Both products are worth exploring for seniors this year. Here's how to determine which could be best for you now.

Reverse mortgages allow homeowners to tap into the equity they’ve built up in their homes without having to make monthly ...

Make sure you understand all the costs, terms and conditions before applying for a reverse mortgage. Reverse mortgages are widely advertised to older adults as a way to convert part of the equity in a ...

As we grow older, our financial needs change. Perhaps you need a different strategy to cover your regular living expenses, or ...

In March, we explored the difference between Home Equity Conversion Mortgage (HECM) “expected rates” and “note rates” and why most reverse mortgages depend on these two interest rates. In April, we ...

Inflation continues to strain the economy and American household budgets with higher prices at the gas pump, grocery store and other everyday purchases. As a result, many are taking on extra jobs and ...

If you're like many retirees, your home equity represents one of your largest stores of wealth. While many homeowners turn to home equity loans and lines of credit (HELOCs) to unlock their home's ...

Reverse mortgage professionals made more inroads into the forward mortgage industry in 2024. This happened through dedicated conversations, partnerships between reverse and forward mortgage companies, ...

Home equity is a valuable financial resource. By definition, it’s the difference between your home’s value and how much you owe on your mortgage. For example, if your home is worth $500,000 and you ...

One of the first reverse mortgage programs had such negative ramifications that it was labeled a “black eye” for the industry. That specific program, however, is nearly as old and outdated as some of ...

For older homeowners who need cash, a reverse mortgage may be an option. But if your home value is higher than federal reverse mortgage limits allow, you might consider a jumbo reverse mortgage. Jumbo ...