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Reverse Mortgage Tips - Coming of Age TV

Reverse mortgages are a hot topic among retirees these days, as well as those thinking about retirement. But beware, a reverse mortgage is not for ...

The American College champions reverse mortgages

Since home equity remains the single largest asset for most Americans, Hopkins believes reverse mortgages can play a significant role in retirement income planning.

“It is simply just too important to be ignored,” Hopkins said. “The research around reverse mortgages and retirement income planning shows not only that it can be a useful product, but that in some cases it might be the difference between running out of money and living a financially secure retirement.”

Despite the college’s push, Hopkins said he doubts if reverse mortgages will be fully embraced by the Baby Boomer generation.

“The reality is that very few financial advisors do comprehensive retirement income planning today,” Hopkins said. “It is very hard to use a reverse mortgage in its best fit unless you are practicing comprehensive retirement income planning for a client.

Cash-out refinance rules: know the drill

In this article:

How cash-out refinance rules work Cash-out refinance rules for conforming, FHA, USDA and VA home loans Cash-out refinancing with a reverse mortgage

A cash-out refinance can put real dollars in your pocket. But you need to know the rules and practice good strategy.

Verify your new rate (Aug 28th, 2018) Home values are up

If you’ve owned real estate for the past few years, the odds are that your net worth has significantly increased. According to the National Association of Realtors, existing home values nationwide increased from $196,230 in June 2009 to $276,900 in June 2018.

That’s $80,670 in additional equity on average. Add in mortgage amortization, the reduction of loan balances with each monthly payment, and many homeowners have more than $100,000 in equity.

What’s a cash-out refinance?

With a cash-out refinance, you don’t move or sell. But you can take out some of the equity for such things as starting a business, paying tuition or making home improvements.

can a disabled person apply for reverse mortgage at age 55?

I'm 55 years old and physically disabled from the waist down, mortgage payments are difficult to meet and I would like to apply for a reverse mortgage, Is this possible?

disability is not a criteria for qualifying for a reverse mortgage; only age. currently, everyone on title must be 62 years old by the time the loan closes.