For older homeowners considering a reverse mortgage, one of the most important factors to understand is the 60% rule. This lending cap, introduced as a safeguard, determines how much money borrowers ...

When considering a reverse mortgage, understanding the 60% rule is crucial for older homeowners. This rule, which limits the initial access to home equity, is designed to ensure financial stability ...

WASHINGTON - You've probably seen the reverse-mortgage pitchmen at work on your TV screen - former Sen. Fred Thompson and actors Robert Wagner and Henry "Fonzie" Winkler prominent among them - urging ...

HUD’s RFI on reverse mortgage programs highlights an industry focus on mortgage insurance costs and liquidity constraints.

These loans allow older homeowners to borrow against their home equity. But unlike a traditional loan, you don’t have to make a monthly mortgage payment when you take out a reverse mortgage. Instead, ...

Recently, the Department of Housing and Urban Development (HUD) solicited feedback on how to enhance the HECM program. Therefore, I thought this was a perfect opportunity to bring this ...

"I think a real good rule of thumb is don't touch the equity in your home unless you need it. And if you are 62+ and you are limited on income, we need to create income to offset Social Security.

For those who aren’t yet 62, there may be other options. The Home Equity Conversion Mortgage, or HECM, is backed by the ...

For many older Americans, retirement isn't about staying put in their homes. It's a time for making a meaningful change instead. Some retirees want to downsize their home into a more manageable space, ...

We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. There's a lesser-known reverse mortgage designed for specific, essential ...

Reverse mortgage originators often remain a key point of contact for their clients from initial consultation to long after the loan closes. But getting to the closing table can come with its own set ...