Mortgage Tips and Advice

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 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

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?