You might ask yourself, why would I want to make mortgage payments if I’m not required to make mortgage payments? Well, there are a few advantages of making payments with a reverse mortgage that you don’t necessarily get with a traditional mortgage. So let me explain.
One of the most amazing and strategic features of the Home Equity Conversion Mortgage (HECM) is the growing Line of Credit (LOC).
Over the last 35 years, there have been dozens of changes and improvements to make reverse mortgages better and safer than they had been historically.
What did life look like back then? How much did a gallon of gas cost? How much did a dozen eggs cost? How much did a bottle of soda cost? How much did homes cost? Now visualize your retirement. Does it look the same? What’s different?
Many of us have deeply rooted beliefs, which date back to the Great Depression, that we must pay off our mortgage. Does this belief still hold true today? Is paying off your mortgage the best investment strategy given all the new products and solutions available?
In general, I believe there are three primary categories of the ways that homeowners use a reverse mortgage: needs based, lifestyle based and planning based.
America’s love-hate relationship with credit is no new phenomenon. In fact, it began before the turn of the 20th century.
I have had clients in the past tell me that reverse mortgages are confusing, and I do not disagree, they certainly can be confusing.
U.S. mortgage rates fell to a four-month low last week, supporting more home purchases and refinancing.
When you retire, would you rather have $500K of home equity and no cash in the bank? Or would you rather have $500K of cash in the bank and no home equity?
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.
People ask me the question, are reverse mortgages expensive? I typically reply by asking the question, “compared to what”?
In one sentence, a HECM/Reverse Mortgage is a home equity loan that does not require traditional monthly payments.
An exceptional gift idea is helping your relative or loved one with an interest rate or mortgage buydown
Mortgage rates more than doubled in 2022, but good news made an appearance in November, a positive sign for those buying or refinancing a home.
Have you heard of a HECM loan? If not, let me share with you what it is and clarify if it is something you should consider.
The Bodner Team, in partnership with The Rueth Team, has announced its move to OneTrust Home Loans.
The Federal Reserve is raising interest rates yet again. Is there any silver lining to this increase? There’s one: savings accounts.
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.
Colorado homeowners receive an average home equity loan offer of nearly $130,000, which is the largest home equity loan offer in the U.S., according to analysis by LendingTree, an online loan marketplace.
Now that interest rates have risen from the 3.5% range to the 7% range, will home prices decline to balance out the purchasing power?
How can you tell if we are entering a recession or a simple market correction? Here’s what you need to know.
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?
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
