What options do the heirs have when it comes to reverse mortgages

What options do the heirs have when it comes to reverse mortgages

One of the largest misconceptions with reverse mortgages is that the homeowner loses ownership of the home, and they cannot pass the home onto their heirs. That is simply not true, you still retain ownership, and you can absolutely still pass the home to your heirs in the future.

Are reverse mortgages expensive?

Are reverse mortgages expensive?

People ask me the question, are reverse mortgages expensive? I typically reply by asking the question, “compared to what”?  

Housing market trends: Signs nationwide show upside for buyers

Housing market trends: Signs nationwide show upside for buyers

The housing market continues to be challenging for home buyers and sellers alike, especially in Boulder County where price increase and low inventory exceed national averages. Experts suggest patience and a knowledgeable Realtor help navigate these unprecedented market challenges.

Is Buying a New Home Now Financially Savvy?

Is Buying a New Home Now Financially Savvy?

Given today’s market, is it better to wait to buy that new house, sidelining the lifestyle you crave, or is it financially wiser to take advantage of the equity you have now?

Are there alternatives to foreclosure?

Are there alternatives to foreclosure?

At the first sign of not being able to make the monthly mortgage payment, the homeowner should start out with contacting a real estate attorney, a Realtor®, and their mortgage lender to review all the options

Rising interest rates decrease purchasing power

Rising interest rates decrease purchasing power

Today’s market is tough on first time buyers. The inventory of homes and condos purchased by first-time buyers continues to be low, and along with inflation, home prices are being pushed upward in most markets.

A Closer Look: The 30-year mortgage

The average interest rate on a 30-year mortgage is now 5.35 percent. That’s over two percentage points higher than at the beginning of 2022. These higher interest rates will undoubtedly change the home-buying scene as people weigh the costs of borrowing. But one constant is that the majority of new mortgages are of the 30-year fixed variety. Ever wonder why?