Many people are aware that a home can be purchased using a Home Equity Conversion Mortgage, also known as HECM loan or senior financing. But most people don’t realize that there are actually four types of HECM loans.
In all four loan types, the loan amount is determined by the home’s […]
The Parade of Homes is now in full swing! Welcome to all of you who love to come and see the latest and greatest in home designs. Builders, designers and craftsman have been working at a dizzying pace to prepare amazing homes so that you can explore the possibilities and dream […]
I love the holidays at the end of the year. They’re a great opportunity to get together with family and friends to celebrate beliefs and traditions or to just have fun eating together or watching your favorite football game. The holidays are a time of thankfulness, giving and renewal as the […]
Home Equity Conversion Mortgages (or reverse mortgages) have been around since 1961, but they have only become a main-stream financial product in recent years. Because HECMs are still a relatively new product many people have misconceptions about how they work. Here are ten of the top myths about reverse mortgages:
Several of my clients and realtor friends have come to me at one time or another and asked a common question: “If I can pay cash for a home, why would I ever want to use a Home Equity Conversion Mortgage (HECM) to purchase my home?” This is a VERY important […]
A few years ago a local Realtor referred a special client to me. She had been diagnosed with stage four cancer and thanks to aggressive treatment, was in remission. She owned a comfortable, small home but needed more space, wanted to be closer to the hospital for treatments and, uncertain of […]
Many seniors in today’s economy retire with a mortgage on their home. As they shift to a retirement income and they face increasing health care and living costs, some seniors find it difficult to make ends meet and stay in the home that they love. Many people don’t realize that they […]