Do You Really Need an Annuity or Insurance?

The new Housing and Economic Recovery bill prohibits reverse mortgage companies from requiring borrowers to purchase financial products in order to qualify for a reverse mortgage. This arose out of concern for applying for reverse mortgages who were being taken advantage of by unscrupulous lenders and scam artists that tried to sell unnecessary financial [...]

Reverse Mortgage Costs

Reverse mortgage fees are standard for reverse home loans, as with any mortgage product. While a somewhat unique financial product, a reverse mortgage is still a loan that has a lender, borrower, repayment terms, and fees. Borrowers can anticipate paying several expenses, including an appraisal fee, repair fees, up-front mortgage insurance premiums, an origination fee, [...]

Basic Features of a Reverse Mortgage

A reverse equity mortgage can be an attractive option for some seniors, but this type of loan does come with a specific set of requirements and regulations. Any consumer considering using a reverse mortgage to unlock the equity in his or her home should carefully examine the terms of the mortgage before committing.
• Reverse mortgage [...]