Reverse Mortgage News

What Is Mortgage Insurance and Why Is It On Reverse Mortgage Loans?

In this video Bruce Simmons explains what mortgage insurance is and why it is on all reverse mortgage loans.

Mortgage insurance is required on all FHA insured reverse mortgage loans.

It does two things:

It protects the lender against loss should the loan balance exceed the value of the home.
It also protects the homeowner (indirectly), from the lender ever coming back to them, their estate, or their heirs.

Please check out the video and also download this article to learn more.

Bruce Simmons

I absolutely love what I do - working with senior homeowners to help them live a more comfortable, flexible and secure retirement. I have the absolute best customers in the world, and even though I worked in the forward mortgage business for a number of years, I could never go back to doing conventional loans. I'm a 100% reverse mortgage specialist.