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Reverse Mortgage Qualification

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Why a Reverse Mortgage is an Excellent Financial Product

When you’re wondering how the neighbors across the street just purchased a new car, despite having visited the hospital for a lengthy period recently, chances are they have obtained a capital infusion from a reverse mortgage.

A reverse mortgage is an excellent financial product that millions of Americans have already utilized. It is a financial product that takes into account positive past decisions. For many, in order to own a home, it requires a determination to see and property and declare it a good investment. Having done that, the future homeowner often reaches out to a lender to obtain a traditional mortgage. ..Read More>>

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Reverse Mortgage Appraisal Frequently Asked Questions

An appraisal on your property to secure a reverse mortgage can be confusing. There is a lot of jargon that isn’t explained and specific requirements that must be done from the appraiser. Our company, Shop Reverse Mortgage, understands this and seeks to make the appraisal process easy and painless for our customers.

Skyler Smith - UnsplashTo take a step back, a reverse mortgage is a retirement tool for seniors over the age of 62. This financial product is useful for seniors because often times seniors will find themselves to be cash poor but house rich. This is because over the course of their traditional mortgage, the person or couple have built up significant equity in their home over the course of multiple years, usually between 15 to 30. ..Read More>>

HECM Reverse Mortgage Loan Limits for 2016

Gerard Moonen - UnsplashRecently, I had the pleasure to welcome a lovely couple to my office where we discussed options in obtaining financing. They have been married since their 20s and have had a remarkable, long life together. The couple was facing a problem that demanded their full attention—the wife was recently diagnosed with cancer.

While not the first time I had an opportunity to help a couple facing a medical emergency, this time I could see more easily than others how damaging this was to her husband. They needed money to cover the cost that the insurance company required. We discussed their assets and liabilities and determined that their best option was to receive a cash infusion from a reverse mortgage. ..Read More>>

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Can a Reverse Mortgage be a Retirement Tool?

Roll of CashImagine having an extra $25,000 dollars right now. How would you spend it?

Capital is known to become dry for persons over the age of 62. Most Americans near or past that age choose to retire and then must live off of savings that they built due to their excellent foresight during their younger years. ..Read More>>

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How a Reverse Mortgage can Impact Your Taxes

Are you interested in receiving a no risk cash infusion?

After contributing to society for decades, many retirees love the options that their new lifestyle has. This can include the opportunities to kick back, relax, and devote your free time to tackling your unique interests. Common interest pursued by retirees can include, and is not limited to painting, travel, or spending more time with your family—especially your grandchildren. ..Read More>>

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How Do I Know if I Qualify for a Reverse Mortgage?

Qualifying for a Reverse Mortgage

How do I know if I qualify for a reverse mortgage? That is a common question we receive here at ShopReverseMortgages.com, so we figured this would make the perfect first blog post.

Qualifying for a reverse mortgage is simple if you meet certain criteria. It is likely easier to qualify than one would believe.

In this blog post, we will look at all factors that are necessary to qualify for a reverse mortgage. ..Read More>>