If you’ve been receiving this newsletter long enough, you may recall that in 2009 I introduced a handout that I named the “Colorado Consumer Guide to Reverse
Mortgages”.
However, with all the changes that HUD intro-duced to the Home Equity Conversion Mortgage program, The Consumer Guide quickly became obsolete.
With the introduction of Financial Assessment now under our belt, and assurances from HUD that they wouldn’t be making any major chang-es anytime soon,
I figured now would be good time to introduce an updated version of the “Colorado Consumer Guide to Reverse Mortgages”.
The highlights of the updated divided into three sections
- The Basics
- Special Reports
- Miscellaneous
The Basics
This portion discusses what a reverse mortgage is and how it works. It compares reverse mortgages to traditional mortgages, discusses different interest
rate and program options as well as closing costs and the actual process of getting a reverse mortgage.
Special Reports
In this section, I have put together articles that I have written in the past to help inform and educate people about a number of specialized topics including,
seven mistakes to avoid when choosing a lender, misconceptions about reverse mortgages, how to use a reverse mortgage to buy a home and even when not
to get a reverse mortgage.
Miscellaneous
This section has an expanded FAQ portion as well as two full pages of mortgage definitions to help you understand what you are reading. I also included
a page on how to proceed to find out if a reverse mortgage is right for you.
I would love to send the updated Colorado Consumer Guide to Reverse Mortgages to you with absolutely zero commitment on your part. Please feel free to
call me at 303-467-7821 for a free copy of this guide or send an e-mail to me at bruce@almortgageinc.com.
I will be glad to answer any of your question or just send you the guide.
