Archive for February, 2006

Reverse Mortgage Counseling

Monday, February 27th, 2006

Am I required to receive counseling before I get a reverse mortgage?
Yes. Counseling, one of the safeguards of reverse mortgages, is required for all three current reverse mortgage products before you can obtain a loan. Counseling is an educational session at which you are informed about reverse mortgages and your other options. You can get [...]

Reverse Mortgage Counseling

Monday, February 27th, 2006

Am I required to receive counseling before I get a reverse mortgage?
Yes. Counseling, one of the safeguards of reverse mortgages, is required for all three current reverse mortgage products before you can obtain a loan. Counseling is an educational session at which you are informed about reverse mortgages and your other options. You can get [...]

Are reverse mortgages a good deal?

Monday, February 20th, 2006

‘We own our home and my son thinks we should take out a reverse mortgage on our house to enjoy ourselves. Does that make sense to you?’
By Walter Updegrave, MONEY Magazine senior editor
NEW YORK (CNNMoney.com) - We own our home outright and are virtually debt-free. My son thinks we should take out a reverse mortgage [...]

HUD lifts cap on senior-citizen reverse mortgages

Wednesday, February 1st, 2006

Lawmakers now focusing on amount of cash that can be pulled from homes
Federal legislators are divided on numerous topics in the nation’s capitol, but expanding the possibilities for senior citizens to live more comfortably is not one of them.
Members from both sides of the aisle are finally seeing the light on reverse mortgages, the once-controversial [...]