I like this article because it gives an honest overview of reverse mortgages. There are also some references at the end where the reader can find more information about these loans. The author mentions that these loans are comparatively expensive up front. That is true, but you also need to keep in mind that a reverse mortgage allows the homeowner to stay in the home until they die or move out permanently. If this type of loan enables a retired senior to stay in their home and live comfortabl... Read Full Story

Reverse mortgages allow equity to work for you Reverse mortgages are bright spot in bleak financial arena By DUANE MARSTELLER - dmarsteller@bradenton.com MANATEE — With the credit crunch, tighter lending standards and the weak economy clobbering the conventional mortgage market, more lenders and brokers are going in reverse — as in reverse mortgages. Long considered a niche product, reverse mortgages have been gaining popularity despite widespread public unfamiliarity with them and... Read Full Story

Scott Tucker Reveals ‘How to Take Money Out of Your Home Without the Risk of Foreclosure!’ ‘More & more seniors are realizing that their retirement savings will not be enough to provide for their needs. Or, that they would like to shake-loose the cash for a vacation, a new car, or maybe for their grandkids’ college tuitions. Well, now there is a solution … ‘ Last update: 8:54 a.m. EST Nov. 14, 2008 CHICAGO, Nov 14, 2008 /PRNewswire via COMTEX/ —... Read Full Story

It’s amazing to me how many people are out there spreading confusion and half-truths about reverse mortgages. Many of these are people who should know better. Many are people who apparently are more interested in looking and sounding important and authoritative than in telling the truth. Seniors need to know the real truth so they can make informed decisions. This article is another I’ve found that contains the straight truth about reverse mortgages. A lift for reverse mortgage market By Tom ... Read Full Story

Reverse mortgage route works for Marysville woman After some research, a Marysville woman finds an ideal way to pay for home repairs and a cruise. By Christina Harper Special to The Herald MARYSVILLE — Dorothy Remington of Marysville found herself in a quandary last year when she realized that her house needed a new roof and new windows. Remington, 80, didn’t have the money to make the repairs to the Marysville home that her late husband had built himself for the family. “I... Read Full Story

Reverse Mortgages Provide Valuable Tool For Seniors By THERESA SULLIVAN BARGER |Special to The Courant November 2, 2008 MICHAEL AND CYNCY ABEL enjoy the Oyster River near their Old Saybrook home. They recently got a reverse mortgage, allowing Cyncy to retire and the couple to spend more time together. (PATRICK RAYCRAFT / HARTFORD COURANT / October 24, 2008) Cyncy Abel laughs when talking about how her quality of life has improved since she and her husband, Mike, got a reverse mortgage on ... Read Full Story

America’s retirement accounts have reportedly lost over $2 trillion in the past 15 months, or 20% of their values. Many Americans are having to put off retirement, work longer hours, and/or put off major purchases because of the recent turmoil in the markets. From the Examiner.com, 10.7.08 WASHINGTON (Map, News) - Americans’ retirement plans have lost as much as $2 trillion in the past 15 months, Congress’ top budget analyst estimated Tuesday. …”Unlike Wall Stree... Read Full Story

A reverse mortgage can help the elderly keep their homes without having to worry about foreclosure. Interestingly enough, some new robots can help them live more comfortably in those homes. Robots and sensors to help elderly stay independent 12:42 PM CDT on Wednesday, October 15, 2008 By BOB MOOS / The Dallas Morning News bmoos@dallasnews.com Someday soon, older adults may not need to move into nursing homes because they’ll have a household of technological wonders to keep an eye on... Read Full Story

What’s frustrating is that there is so much misinformation out there about reverse mortgages. If people really knew what a good thing they are, they would be rushing to get them! This is a good article; please click on the title if you want to read the entire thing. Read Full Story

I read some statistics the other day that indicated that seniors make up about 30% of all foreclosures right now. That’s somewhat shocking, but also very sad considering that many of those could have been prevented with reverse mortgages. With a reverse mortgage, any existing payment would go away and you could receive a monthly payment for as long as you live in your home. US foreclosure filings up 71 percent in 3Q Foreclosure filings surge 71 percent in third quarter as mortgage cri... Read Full Story