A reverse mortgage is an increasingly popular way for Canadians aged 55 and older to access the equity they’ve accrued in their homes. Reverse mortgages can provide financial flexibility and peace of mind, particularly for retired homeowners living on fixed incomes. But there’s a lot to ...
A critical part of the reverse mortgage process is the home appraisal. This is the case whether obtaining a traditional reverse mortgage or aReverse Mortgage for Purchase. The appraised value of the home is one of the important factors that determines the amount available through the reverse mortg...
False or misleading advertisingthat convinces a homeowner to get a reverse mortgage without fully understanding the implications—or when another solution might provide financial security without sacrificing the home—continues to plague the marketplace. A report by theConsumer Financial Protection Bureau(CF...
Whether you're the borrower on the reverse mortgage or an heir, you'll need to pay it back. Here's how to repay a reverse mortgage.
During the call, your counselor will explain how HECM works, including payment options, costs, tax implications, benefits and drawbacks. Get Your Certificate After completing the counseling session, your counselor will quickly get you a copy of your certificate so you can continue the process with...
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To potential homebuyers and current homeowners, SMPL Mortgage is a generational lending leader in mortgage financing.
• Save one’s home when faced with foreclosure or tax forfeiture. • Have funds to full fill needs and goals. • To live with security, independence, dignity and control. I have helped seniors where a reverse mortgage has fulfilled all of these reasons and more, providing hope for th...
Are you interested in receiving information about a reverse mortgage? Get a free information package that includes answers to frequently asked questions along with specific scenario of what a Reverse Mortgage can do for you. Call us at (800)405-6000.
So that they are clear on the implications of entering into a reverse mortgage, many people seek counseling before entering into a loan. This commonly happens whether or not divorce is part of the equation. In fact, counseling is a requirement of most reverse mortgage lenders prior to closing...