When a homeowner applies for a “forward” mortgage, the lender will want to check their credit to make sure the borrowers have good credit scores.
In this video Bruce Simmons explains what mortgage insurance is and why it is on all reverse mortgage loans.
By far, the most common reverse mortgage misconception is that the bank takes the home (and all the equity) when the last homeowner passes away.
Here Are Seven Reasons Why FHA Insured Reverse Mortgages Are Safer Than Conventional Loans.
These are true and tragic situations, but if you can read past the somewhat biased opinions of the article, you’ll see that lenders would honestly prefer to work with the borrowers and heirs.
Negative amortization is the process of how a mortgage balance increases over time instead of decreasing.
This is my very first video blog. I am excited to start this video blog as a way to introduce you to myself and the world of Reverse Mortgages.