Everything You Need To Know About Reverse Mortgage For Purchase
Reverse Mortgages, once typically thought to only help struggling seniors, have undergone enormous changes recently and are being used to help even affluent retirees achieve their retirement dreams and home buyers purchase new homes. The Reverse Mortgage for Purchase program is quickly gaining in popularity. This program allows seniors to purchase a home using a reverse mortgage […]
Pros and Cons of Reverse Mortgage For Purchase vs Cash Purchase
In this day and age, buying a home with cash is rare. And not because of the reasons you may think – such as who has that much cash nowadays? Well, that is part of the reason, but it’s a little more complicated than that. Those who have a substantial amount of cash are finding […]
Boomers Are Buying Homes At Faster Rate Than Millennials But Are They Considering A Reverse Mortgage?
Baby boomers are buying homes at a faster rate than millennials for the first time ever, but this trend also comes with an increasing amount of debt near retirement age. While owning a home can be a valuable asset, carrying debt into retirement can create financial stress and strain. However, there is a solution that can help […]
Here’s What You Need To Know About Reverse Mortgage For Purchase
Reverse Mortgages, once typically thought to only help struggling seniors, have undergone enormous changes recently and are being used to help even affluent retirees achieve their retirement dreams and home buyers purchase new homes. The Reverse Mortgage for Purchase program is quickly gaining in popularity. This program allows seniors to purchase a home using a reverse mortgage […]
Buying A Home? Here’s Why You Should Consider A Reverse Mortgage If You’re 62 or Older
Reverse Mortgages, once typically thought to only help struggling seniors, have undergone enormous changes recently and are being used to help even affluent retirees achieve their retirement dreams and home buyers purchase new homes. The Reverse Mortgage for Purchase program is quickly gaining in popularity. This program allows seniors to purchase a home using a reverse mortgage […]
FHA Backed Reverse Mortgages Offer Protection For Heirs
If you’ve taken the time to learn even a little bit about a reverse mortgage, it’s likely you’ve heard the term “FHA insured” at least a couple of times. But what exactly does it mean? Homeowners 62 and over, with significant equity in their home, may be eligible for a reverse mortgage. These loans are typically insured by the […]
Boomers Are Buying Homes At Faster Rate Than Millennials And They Should Be Using A Reverse Mortgage
Baby boomers are buying homes at a faster rate than millennials for the first time ever, but this trend also comes with an increasing amount of debt near retirement age. While owning a home can be a valuable asset, carrying debt into retirement can create financial stress and strain. However, there is a solution that […]
Reverse Mortgage For Purchase Helps Boomers Buy Homes
For the first time in 8 years, boomers are buying homes at a faster rate than millennials. A reverse mortgage for purchase can be a good option when they’re looking to buy a home. A reverse mortgage for purchase allows seniors to purchase a new home and pay for it without making monthly mortgage payments. […]
Understanding The Reverse Mortgage Maturity Event
For many who have had a conventional mortgage on their home, they are familiar with the “maturity date”. But with a reverse mortgage, there is no maturity date, only a “maturity event”. So, what’s the difference? A maturity date indicates the date which the borrower will make the final payment on the loan, including principal and […]
Everything You Need To Know About Reverse Mortgage For Purchase
Reverse Mortgages, once typically thought to only help struggling seniors, have undergone enormous changes recently and are being used to help even affluent retirees achieve their retirement dreams and home buyers purchase new homes. The Reverse Mortgage for Purchase program is quickly gaining in popularity. This program allows seniors to purchase a home using a reverse mortgage […]
What Does It Mean When A Reverse Mortgage Is FHA Insured?
If you’ve taken the time to learn even a little bit about a reverse mortgage, it’s likely you’ve heard the term “FHA insured” at least a couple of times. But what exactly does it mean? Homeowners 62 and over, with significant equity in their home, may be eligible for a reverse mortgage. These loans are typically insured by the […]
Considering Buying A Home? Why You Should Consider A Reverse Mortgage
Reverse Mortgages, once typically thought to only help struggling seniors, have undergone enormous changes recently and are being used to help even affluent retirees achieve their retirement dreams and home buyers purchase new homes. The Reverse Mortgage for Purchase program is quickly gaining in popularity. This program allows seniors to purchase a home using a reverse mortgage […]
Should You Be Considering A Reverse Mortgage To Buy A Home?
We’re all familiar with the two most common options to purchase a home – take out a mortgage loan or pay cash. But for seniors 62 and over, there’s another option – the Reverse Mortgage for Purchase program (aka HECM for Purchase). Looking for a home in Fort Collins, Loveland or Longmont, Colorado but finding it’s a bit […]
The Scoop: Reverse Mortgage For Purchase
Reverse Mortgages, once typically thought to only help struggling seniors, have undergone enormous changes recently and are being used to help even affluent retirees achieve their retirement dreams and home buyers purchase new homes. The Reverse Mortgage for Purchase program is quickly gaining in popularity. This program allows seniors to purchase a home using a reverse mortgage […]
Breaking Down The Costs Of A Reverse Mortgage In Colorado
Over the years reverse mortgages have shifted from being a choice of last resort to a creative and effective retirement planning tool. But still many who do not fully understand how reverse mortgages function will immediately bring up the perceived high cost of originating the loan. When all costs and variable options are considered, the opposite is true. Reverse […]
Yes, You Can Have New Home Built Using A Reverse Mortgage
One of the hidden gems within the reverse mortgage program has long been the ability to purchase a home with it; the Reverse Mortgage for Purchase program. But within that program was a frustrating rule – the requirement that the home being purchased have a Certificate of Occupancy before a loan application could be submitted. This meant seniors seeking […]
Colorado’s Reverse Mortgage For Purchase 101
We’re all familiar with the two most common options to purchase a home – take out a mortgage loan or pay cash. But for seniors 62 and over, there’s another option – the Reverse Mortgage for Purchase program (aka HECM for Purchase). Looking for a home in Fort Collins, Loveland or Longmont, Colorado but finding it’s […]
Find A Reputable Reverse Mortgage Lender In Colorado
For many seniors, a reverse mortgage is a feasible option to living within a budget, without the constraints and worry of excessive financial distress. In order to qualify for a reverse mortgage, the individual must own their home, be at least 62 years old, and have some equity in the home. Funds from a reverse mortgage can […]
How To Get A Reverse Mortgage On Your Condo Or Townhouse In Colorado
In October 2019 the FHA made it much easier for condo owners to get HECM Reverse Mortgages in Colorado. Prior to 2019 most condo owners could not obtain HECM Reverse Mortgage loans because they required approval of the entire building, which included multiple units. The FHA change made in 2019 now allows for approval of […]
Increased Reverse Mortgage Lending Limits For 2022
The Federal Housing Administration (FHA) has announced that the lending limit for FHA insured HECM Reverse Mortgages will be increasing for the sixth year in a row. Beginning on January 1, 2022, the lending limit for FHA government-insured reverse mortgages will be $970,800, marking an increase of nearly $150,000 from the lending limit HUD set […]
Reverse Mortgage For Purchase or Cash Purchase? Here’s What You Need To Know
In this day and age, buying a home with cash is rare. And not because of the reasons you may think – such as who has that much cash nowadays? Well, that is part of the reason, but it’s a little more complicated than that. Those who have a substantial amount of cash are finding […]
Is A Reverse Mortgage For Purchase Right For You?
We’re all familiar with the two most common options to purchase a home – take out a mortgage loan or pay cash. But for seniors 62 and over, there’s another option – the Reverse Mortgage for Purchase program (aka HECM for Purchase). Looking for a home in Fort Collins, Loveland or Longmont, Colorado but finding it’s […]
What Do Retirees REALLY Want In Regard To Housing?
If you find yourself yearning for a retirement of comfort in your own home in a community you love, you are definitely not alone. Here are some pretty telling facts and statistics surrounding the desires of older adults in the U.S.. According to research by the American Association of Retired Persons (AARP): Nearly 90 percent of […]
Should Retirees Use Cash Or A Reverse Mortgage for Purchase When Buying A Home?
In this day and age, buying a home with cash is rare. And not because of the reasons you may think – such as who has that much cash nowadays? Well, that is part of the reason, but it’s a little more complicated than that. Those who have a substantial amount of cash are finding […]
5 Things You Need To Know About Reverse Mortgages In Colorado
Reverse mortgages have made a serious comeback in the past couple years. After regulation changes were enacted in 2015, the reverse mortgage loan once considered a desperate lifeline is now being used as a retirement tool for even the wealthy. The loans are still only available to seniors 62 and older (including married couples) with the amount of […]
Yes, You Can Get A Reverse Mortgage On A Condo In Colorado
For most of the time reverse mortgages have been around they were not available on condos and many people still believe this to be true. But that changed in 2019. Previously most condos could not obtain HECM Reverse Mortgage loans because they required approval of the entire building, which included multiple units. The 2019 change […]
What You Need To Know About Reverse Mortgage For Purchase
Reverse Mortgages, once typically thought to only help struggling seniors, have undergone enormous changes recently and are being used to help even affluent retirees achieve their retirement dreams and home buyers purchase new homes. The Reverse Mortgage for Purchase program is quickly gaining in popularity. This program allows seniors to purchase a home using a reverse mortgage […]
Is A Reverse Mortgage For Purchase Right For You?
We’re all familiar with the two most common options to purchase a home – take out a mortgage loan or pay cash. But for seniors 62 and over, there’s another option – the Reverse Mortgage for Purchase program (aka HECM for Purchase). Looking for a home in Fort Collins, Loveland or Longmont, Colorado but finding it’s […]
Why Do Only 3% Of Retirees Utilize Reverse Mortgage To Purchase A Home?
Why is it that only 2-3% of older Americans use the Reverse Mortgage for Purchase option to buy a home? Recent studies show that even with the option available to them, they still seek traditional funding or opt to pay cash. Why is that? Well, surveys have shown there are three main reasons: 1.) No one told […]
Everything You Need To Know About Reverse Mortgage For Purchase
Reverse Mortgages, once typically thought to only help struggling seniors, have undergone enormous changes recently and are being used to help even affluent retirees achieve their retirement dreams and home buyers purchase new homes. The Reverse Mortgage for Purchase program is quickly gaining in popularity. This program allows seniors to purchase a home using a reverse mortgage […]
HUD Increases Reverse Mortgage Loan Limits Beginning January 1, 2020
In early December, the Department of Housing and Urban Development (HUD) announced that the lending limit for FHA insured HECM Reverse Mortgages will be increasing for the fourth year in a row. Beginning on January 1, 2020, the lending limit for government-insured reverse mortgages will be $765,600, marking an increase of $39,075 from the lending limit […]
Reverse Mortgage For Purchase Explained
Reverse Mortgages, once typically thought to only help struggling seniors, have undergone enormous changes recently and are being used to help even affluent retirees achieve their retirement dreams and home buyers purchase new homes. The Reverse Mortgage for Purchase program is quickly gaining in popularity. This program allows seniors to purchase a home using a reverse mortgage […]
New FHA Rules Expand Reverse Mortgage Market To Include Condos
Effective October 15, 2019 a new rule by the FHA will make it easier for condo owners to get HECM Reverse Mortgages. Currently most condos cannot obtain HECM Reverse Mortgage loans because they require approval of the entire building, which includes multiple units. The new change allows for approval of single units. This is a […]
Cash Purchase vs Reverse Mortgage For Purchase: Pros and Cons
In this day and age, buying a home with cash is rare. And not because of the reasons you may think – such as who has that much cash nowadays? Well, that is part of the reason, but it’s a little more complicated than that. Those who have a substantial amount of cash are finding […]
Reverse Mortgages Can Help Widows Purchase A New Home
It’s a scenario all to familiar for the elderly in Northern Colorado… A spouse passes away leaving behind a widow. The remaining partner wants to move closer to family. But there’s a catch – although the widow’s current home is owned outright, they would typically need to sell it before they could purchase another. And […]
5 Fast Facts About Reverse Mortgages in Colorado
Reverse mortgages have made a serious comeback in the past several years. After regulation changes were enacted in 2015, the reverse mortgage loan once considered a desperate lifeline is now being used as a retirement tool for even the wealthy. The loans are still only available to seniors 62 and older (including married couples) with […]
Deciding If A Reverse Mortgage For Purchase Is Right For You
We’re all familiar with the two most common options to purchase a home – take out a mortgage loan or pay cash. But for seniors 62 and over, there’s another option – the Reverse Mortgage for Purchase program (aka HECM for Purchase). Looking for a home in Fort Collins, Loveland or Longmont, Colorado but finding it’s […]
Only 3% Of Retirees Utilize Reverse Mortgage To Purchase A Home
Why is it that only 2-3% of older Americans use the Reverse Mortgage for Purchase option to buy a home? Recent studies show that even with the option available to them, they still seek traditional funding or opt to pay cash. Why is that? Well, surveys have shown there are three main reasons: 1.) No one told […]
5 Things You Need To Know About Reverse Mortgages
Reverse mortgages have made a serious comeback in the past couple years. After regulation changes were enacted in 2015, the reverse mortgage loan once considered a desperate lifeline is now being used as a retirement tool for even the wealthy. The loans are still only available to seniors 62 and older (including married couples) with the amount of […]
Reverse Mortgages Can Help Widows Purchase A Home
It’s a scenario all to familiar for the elderly in Northern Colorado… A spouse passes away leaving behind a widow. The remaining partner wants to move closer to family. But there’s a catch – although the widow’s current home is owned outright, they would typically need to sell it before they could purchase another. And […]
Reverse Mortgage For Purchase – A Hidden Gem
Nearly everyone is familiar with a Reverse Mortgage and many even know someone who has used one to increase cash flow or help them remain in their existing home. But what many people don’t realize is that you can also use one to purchase a home. This little known portion of the reverse mortgage program, called Reverse Mortgage […]
What Does it Mean When a Reverse Mortgage is FHA Insured?
If you’ve taken the time to learn even a little bit about a reverse mortgage, it’s likely you’ve heard the term “FHA insured” at least a couple of times. But what exactly does it mean? Homeowners 62 and over, with significant equity in their home, may be eligible for a reverse mortgage. These loans are typically insured by […]
Is a Reverse Mortgage for Purchase Right for You?
We’re all familiar with the two most common options to purchase a home – take out a mortgage loan or pay cash. But for seniors 62 and over, there’s another option – the Reverse Mortgage for Purchase program (aka HECM for Purchase). Looking for a home in Fort Collins, Loveland or Longmont, Colorado but finding it’s […]
Why Reverse Mortgage for Purchase is Different
The Reverse Mortgage for Purchase program is an age-based mortgage insured by the FHA for individuals and married couples aged 62 and older. Unlike a traditional mortgage, monthly payments are deferred and the loan balance increases over time. Because the loan is backed by the FHA, neither the borrower(s) nor their heirs are personally liable for the […]
What Will I Be Responsible For After I Get A Reverse Mortgage?
Reverse Mortgages have helped millions of seniors live more plentiful lives as they age. Homeowners and their spouses over the age of 62 are eligible for Home Equity Conversion Mortgages (HECM), but although they will NOT have a monthly mortgage payment to pay, they are still responsible for some financial obligations regarding the home. These include: […]
Is Your Home Eligible For A Reverse Mortgage?
Reverse Mortgages are a specialized loan available to seniors 62 and over. This creative resource is used by a wide demographic – from those looking to supplement a fixed income, to the more affluent in need of protection for retirement assets, and even those wanting to purchase a home in retirement. But there are some requirements when it comes […]
Why Do Only 3% of Seniors Use a Reverse Mortgage to Purchase a Home?
Why is it that only 2-3% of older Americans use the Reverse Mortgage for Purchase option to buy a home? Recent studies show that even with the option available to them, they still seek traditional funding or opt to pay cash. Why is that? Well, surveys have shown there are three main reasons: 1.) No one […]
Three Things You Never Knew About A Reverse Mortgage
Reverse mortgages are available to senior homeowners 62 and over, even married couples. The borrower will live mortgage payment free and always retain the title to the home. There are many myths and misconceptions that surround reverse mortgages – but there are also some not-so-known perks to the loans. Here are my top three: 1.) Most […]
Everything You Need To Know About A Reverse Mortgage For Purchase
We’re all familiar with the two most common options to purchase a home – take out a mortgage loan or pay cash. But for seniors 62 and over, there’s another option – the Reverse Mortgage for Purchase program (aka HECM for Purchase). Looking for a home in Fort Collins, Loveland or Longmont, Colorado but finding it’s […]
A Look At Data and Housing Desires of Retirees
If you find yourself yearning for a retirement of comfort in your own home in a community you love, you are definitely not alone. Here are some pretty telling facts and statistics surrounding the desires of older adults in the U.S.. According to research by the American Association of Retired Persons (AARP): Nearly 90 percent […]
How A Reverse Mortgage for Purchase Can Help You Get Your Dream Home
When we’re working hard and raising a family, there are two things we often hope to achieve in our future – having no house payments and living in our dream home. Then as the years close in on retirement, these may still seem unachievable – but they’re not. With the Reverse Mortgage for Purchase program seniors 62 and over […]
Changes in the Reverse Mortgage for Purchase Certificate of Occupancy Rule
One of the hidden gems within the reverse mortgage program has long been the ability to purchase a home with it; the Reverse Mortgage for Purchase program. But within that program was a frustrating rule – the requirement that the home being purchased have a Certificate of Occupancy before a loan application could be submitted. […]
Everything You Need To Know About Reverse Mortgage For Purchase
Reverse Mortgages, once typically thought to only help struggling seniors, have undergone enormous changes recently and are being used to help even affluent retirees achieve their retirement dreams and home buyers purchase new homes. The Reverse Mortgage for Purchase program is quickly gaining in popularity. This program allows seniors to purchase a home using a reverse mortgage […]
What is a HUD Eligible Home for Reverse Mortgages?
Reverse Mortgages are a specialized loan available to seniors 62 and over. This creative resource is used by a wide demographic – from those looking to supplement a fixed income, to the more affluent in need of protection for retirement assets, and even those wanting to purchase a home in retirement. But there are some requirements when it comes […]
Why Do Only 3% Of Seniors Use A Reverse Mortgage To Purchase A Home?
Why is it that only 2-3% of older Americans use the Reverse Mortgage for Purchase option to buy a home? Recent studies show that even with the option available to them, they still seek traditional funding or opt to pay cash. Why is that? Well, surveys have shown there are three main reasons: 1.) No one told […]
Should You Pay Cash For Your Retirement Home or Consider a Reverse Mortgage for Purchase?
In this day and age, buying a home with cash is rare. And not because of the reasons you may think – such as who has that much cash nowadays? Well, that is part of the reason, but it’s a little more complicated than that. Those who have a substantial amount of cash are finding […]
Understanding Different Reverse Mortgage Professionals
When you start navigating the waters of reverse mortgages, you will undoubtedly come across MANY different companies and individuals ready and willing to help. Flashy ads, website calculators, famous spokesmen, and more. But who are all these people? And what is the difference between them? How do you know what is the best fit for […]
Should You Refinance Your Reverse Mortgage Loan?
Reverse mortgages are for seniors 62 and older, including married couples, and were once considered a life line. Times have changed, and now reverse mortgages are regularly being incorporated into retirement planning. But refinance a reverse mortgage? It’s not something you hear about often, or maybe you don’t even realize it’s an option. And why […]
How A Widow Can Buy A Home Using A Reverse Mortgage
It’s a scenario all to familiar for the elderly in Northern Colorado… A spouse passes away leaving behind a widow. The remaining partner wants to move closer to family. But there’s a catch – although the widow’s current home is owned outright, they would typically need to sell it before they could purchase another. And […]
Why You Should Pay Off A Traditional Mortgage With A Reverse Mortgage
A recently released university report by the Michigan Retirement Research Center and funded by the Social Security Administration showed that 55% of those utilizing a reverse mortgage are using some of the proceeds to pay off a traditional mortgage. So, when is this a good strategy? 1.) They’re living in a house they can’t afford When […]
Does My Home Qualify For A Reverse Mortgage?
Reverse Mortgages are a specialized loan available to seniors 62 and over. This creative resource is used by a wide demographic – from those looking to supplement a fixed income, to the more affluent in need of protection for retirement assets, and even those wanting to purchase a home in retirement. But there are some requirements when […]
Reverse Mortgage For Purchase – Everything You Need to Know
Reverse Mortgages, once typically thought to only help struggling seniors, have undergone enormous changes recently and are being used to help even affluent retirees achieve their retirement dreams and home buyers purchase new homes. The Reverse Mortgage for Purchase program is quickly gaining in popularity. This program allows seniors to purchase a home using […]
Retire in Comfort – How a Reverse Mortgage Can Help
For many who remember the reverse mortgage scares of the yester-years, the terms ‘comfort’ and ‘reverse mortgage’ seem like an unlikely duo. But they shouldn’t be. Since the FHA and HUD changed a few regulations stabilizing reverse mortgages in 2015, they have quickly been garnering new attention. Whether looking to boost monthly income, protect […]
The 7 Worst Myths Surrounding Reverse Mortgage in Colorado
Reverse Mortgage was created to give our retiring generation a way to keep their homes and manage the ever increasing costs of life in America after working long and hard over the years. It is an option that could be just right for you. All applicants are required to participate in HUD approved counseling to […]
Reverse Mortgage in Colorado – 5 Quick Facts
The Reverse Mortgage, created to aid the realization of retirees dreams, will be in your face if you have approached, or are approaching, the eligible age of 62. As with the all special offers across Colorado, marketing can promote it in such a way as to allure you – or to terrify you. There […]
Should Cash Home Buyers Consider a Reverse Mortgage for Purchase?
In this day and age, buying a home with cash is rare. And not because of the reasons you may think – such as who has that much cash nowadays? Well, that is part of the reason, but it’s a little more complicated than that. Those who have a substantial amount of cash are finding […]
A Client’s Review of Reverse Mortgage for Purchase
This first hand account of how the decision to go with a Reverse Mortgage for Purchase instead of paying cash for a home changed the course of life for these homeowners is really impressive. I absolutely LOVE hearing stories like this! Reverse Mortgage for Purchase (aka HECM for Purchase) is available to seniors 62 and […]
Get Your Dream Home with Reverse Mortgage for Purchase
When we’re working hard and raising a family, there are two things we often hope to achieve in our future – having no house payments and living in our dream home. Then as the years close in on retirement, these may still seem unachievable – but they’re not. With the Reverse Mortgage for Purchase program seniors […]
Reverse Mortgage For Purchase – What You Need To Know
We’re all familiar with the two most common options to purchase a home – take out a mortgage loan or pay cash. But for seniors 62 and over, there’s another option – the Reverse Mortgage for Purchase program (aka HECM for Purchase). Looking for a home in Fort Collins, Loveland or Longmont, Colorado but finding […]
Reverse Mortgage Helps Widow Buy a Home
It’s a scenario many wish wasn’t reality, but often it is… A spouse passes away leaving behind a widow. The remaining partner wants to move closer to family. But there’s a catch – although the widow’s current home is owned outright, they would typically need to sell it before they could purchase another. And […]
A Hidden Gem – Reverse Mortgage for Purchase
Nearly everyone is familiar with a Reverse Mortgage and many even know someone who has used one to increase cash flow or help them remain in their existing home. But what many people don’t realize is that you can also use one to purchase a home. This little known portion of the reverse mortgage program, […]
Reverse Mortgage for Purchase : A Crash Course
Reverse Mortgages, once typically thought to only help struggling seniors, have undergone enormous changes recently and are being used to help even affluent retirees achieve their retirement dreams and homebuyers purchase new homes. The Reverse Mortgage for Purchase program is quickly gaining in popularity. This program allows seniors to purchase a home using a […]
Reverse Mortgage for Purchase – from a Client’s Perspective
This first hand account of how the decision to go with a Reverse Mortgage for Purchase instead of paying cash for a home changed the course of life for these homeowners is really impressive. I absolutely LOVE hearing stories like this! Reverse Mortgage for Purchase (aka HECM for Purchase) is available to seniors 62 […]
Should Seniors Buying a Home Use A Reverse Mortgage for Purchase?
Seniors typically want to be homeowners, often purchasing a new home during their retirement years – some for the very first time. The reasons they are looking to purchase varies, ranging from downsizing, eliminating burdensome stairs or extensive grounds upkeep, moving closer to family, or possibly purchasing their dream home in a different climate. Whatever the […]
Baby Boomers Have Largest Home Equity, Study Finds
Although Zillow’s Negative Equity Report for the second quarter of 2014 may have some negative numbers (for instance there are more than 8.7 million homeowners with a mortgage still remaining underwater), there are a few highlights to mention. First, while approximately 18.7 percent of Generation X homeowners are underwater on their mortgage only 10.9 […]
Why Reverse Mortgage for Purchase is Different
The Reverse Mortgage for Purchase program is an age-based mortgage insured by the FHA for folks aged 62 and older. Unlike a traditional mortgage, monthly payments are deferred and the loan balance increases over time. Because the loan is backed by the FHA, neither the borrower(s) nor their heirs are personally liable for the debt. There are […]
Reverse Mortgage for Purchase Down Payment Information
Reverse mortgage for purchase is a popular option for seniors wishing to purchase a home and live mortgage payment free, just as they would with a traditional reverse mortgage. This program has been a wonderful tool used by homeowners in Northern Colorado, including Longmont, Fort Collins, Loveland and Greeley. Here are few basics to the […]
Strong Home Sales Highlight Reverse Mortgage for Purchase
As existing home sales rose in December of 2013, the year ended with the strongest sales since 2006, as reported by Realtor.org report. This is great news according to Lawrence Yun, NAR chief economist, who said housing has experienced a strong and encouraging recovery over the past two years. “Existing-home sales have risen nearly […]
Reverse Mortgage and the Housing Supply
With the baby boomer generation coming of age, we’re seeing a noticeable shift in how seniors exist in today’s society. No longer are the days of nursing homes and wheelchairs, or moving in with adult children. Many of today’s seniors are more independent than ever before, outliving the elderly of yesterday by leaps and bounds. […]
Reverse Mortgage Boosts Cash Home Buyers
In this day and age, buying a home with cash is rare. And not because of the reasons you may think – such as who has that much cash nowadays? Well, that is part of the reason, but it’s a little more complicated than that. Those who have a substantial amount of cash are finding […]
Reverse Mortgage Helps Widow Buy a Home
It’s a scenario all to familiar for the elderly in Northern Colorado… A spouse passes away leaving behind a widow. The remaining partner wants to move closer to family. But there’s a catch – although the widow’s current home is owned outright, they would typically need to sell it before they could purchase another. […]
Marisol Senior Living Community in Loveland, Colorado
I recently had the honor of contributing to a piece in “At Home“, the real estate insert included in Loveland’s Reporter Herald newspaper. This piece highlighted a beautiful senior community called Marisol Senior Living located in south-west Loveland and I was pleased to discuss the reverse mortgage options available. About Marisol Senior Living […]
Reverse Mortgage for Purchase by the Numbers
The Reverse Mortgage for Purchase product allows seniors 62 years and older to use a reverse mortgage to purchase a home all in one transaction. By utilizing this product, along with a down payment, older Americans can fulfill their dreams of living closer to family, move to a senior community, downsize or upsize without a […]
FAQ’s about Reverse Mortgage for Purchase
In a recent blog article, I discussed the various options to use reverse mortgage to purchase a home. One of those options is the Reverse Mortgage for Purchase program (aka HECM for Purchase). This is an excellent option to acquire a home in Fort Collins, Loveland or Greeley, Colorado – and offers flexible options […]
How to Purchase a Home with Reverse Mortgage
There are many reasons a senior may want to purchase a new home versus staying in an existing home. Possibly they want to move closer to town or to family, or eliminate stairs, or reduce size and upkeep. As long as they are 62 years or over, the Reverse Mortgage for Purchase Program could be […]
