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What is the Difference Between a Reverse Mortgage and a Home Equity Conversion Mortgage?

May 25, 2023 by Robby Oakes

A reverse mortgage and a home. equity conversion mortgages (HECM) are both types of loan products that allow homeowners to tap into the equity they have built up in their homes. However, there are some important differences between the two.

Filed Under: Mortgage Tagged With: Home Equity, Mortgage, Reverse Mortgage

A Reverse Mortgage And A Home Equity Conversion: What To Know

March 14, 2023 by Robby Oakes

If you are getting ready to retire, you need to make sure you have income to support yourself during your golden years. One popular option is a reverse mortgage, and you can use it to supplement the benefits you receive through Social Security. On the other hand, you may have also heard about a home equity conversion mortgage. What are the differences between them, and which one is right for you?

Filed Under: Mortgage Tagged With: Equity, Mortgage, Reverse Mortgage

Important Things To Know Before Signing Your Reverse Mortgage

September 9, 2022 by Robby Oakes

There are many reasons people take out reverse mortgages. However, this option is usually considered by cash-strapped seniors who own their homes and are looking to ease the burden of their golden years. The beauty of reverse mortgages is that you’ll receive money as long as you are current on property taxes and homeowners insurance.

Filed Under: Mortgage Tips Tagged With: Home Buyer Tips, Mortgage Tips, Reverse Mortgage

Can A Reverse Mortgage Impact Your Social Security Or Medicare Benefits?

December 10, 2019 by Robby Oakes

One of the most common worries that people have is money. When it comes to those golden retirement years, many people worry about running out of money. At the same time, most people who reach their retirement years have a lot of equity in their home.

Filed Under: Mortgage Tagged With: Financing Options, Mortgage, Reverse Mortgage

Is A Reverse Mortgage Right For You?

September 19, 2018 by Robby Oakes

Imagine the bank depositing monthly premiums into your account instead of you writing a mortgage check. That’s basically how a reverse mortgage works.

Filed Under: Mortgage Tagged With: Mortgage, Retirement, Reverse Mortgage

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