Reverse mortgage has no downside for seniors

Chicago Sun-Times;  May 15, 2006 ;   Terry Savage;   701 words ......new reason to celebrate. Using a "reverse mortgage," they can now create a tax-free monthly...you to at least consider whether a reverse mortgage might be appropriate for you or anyone...months ago when I helped him take out a reverse mortgage on his paid-up retirement condo. So...

Beware of reverse mortgage pitfalls

The Record (Bergen County, NJ);  January 23, 2004 ;   ANURADHA RAGHUNATHAN, The Dallas Morning News;   787 words ......Bergen County, NJ) 01-23-2004 Beware of reverse mortgage pitfalls -- Seniors can boost income...around? That's what happens with a reverse mortgage. Seniors who own their homes outright...However, consumer advocates warn that a reverse mortgage must be approached carefully, because...

Use reverse mortgage as last resort

Deseret News (Salt Lake City);  July 23, 2006 ;   Greg Kratz Deseret Morning News;   603 words ......to help her. "She is considering a reverse mortgage on a condo that has appreciated in...part-time job due to health and age. Is a reverse mortgage a bad thing in her situation? "Also...What kind of interest is fair for a reverse mortgage, and how would she get out of it if...

Include family in decision to use reverse mortgage

Chicago Sun-Times;  September 7, 2003 ;   Sandra Block;   787 words ......The $631 monthly payment from her reverse mortgage has allowed her to remain in her home...It was a blessing," she said. A reverse mortgage allows homeowners like Rogers to earn...house or dies. As the name implies, a reverse mortgage is the opposite of a traditional home...

REVERSE MORTGAGE COULD HELP SENIOR'S FINANCES.(MoneyWise)

The Cincinnati Post (Cincinnati, OH);  December 20, 2005 ;     468 words ......it probably is, something called a reverse mortgage might be it -- especially for older...sitting on a big pile of home equity. A reverse mortgage allows older homeowners to tap into...own your home and are at least 62, a reverse mortgage might allow you to get your hands...

A reverse mortgage will just keep on paying

Deseret News (Salt Lake City);  November 19, 2006 ;   Greg Kratz Deseret Morning News;   713 words ......to them, here's a quick review. A reverse mortgage is a loan that lets homeowners who...payments, according to the National Reverse Mortgage Lenders Association in Washington...unclear on how long a person can collect reverse mortgage payments. "Everything I read says...

For older owners facing financial woes, reverse mortgage can help For...

The Virginian Pilot;  March 22, 2008 ;     787 words ......but nothing was ever offered about a reverse mortgage being a possibility, said Downey...based Golden Gateway Financial, a reverse mortgage brokerage focusing on online customers...foreclosure. I think many people look at the reverse mortgage as a way of actually receiving payments...

Reverse Mortgage's Lifetime Guarantees

The Washington Post;  September 14, 1991 ;   Kenneth R. Harney;   781 words ......resource later this year: The first "reverse mortgage" program that guarantees monthly payments...in her or his principal home. The reverse mortgage concept has been on the market since...steadily. As the name suggests, a reverse mortgage works backward. Rather than the borrower...

Push to revive reverse mortgage

Chicago Sun-Times;  September 10, 1999 ;   JAMES T. BERGER;   392 words ...Although the reverse mortgage concept was introduced in 1981...said Robert S. Camino, senior reverse mortgage specialist for Cole Taylor Bank...becoming increasingly aware of the reverse mortgage product, but "unfortunately...

Reverse Mortgage Industry Leader Joins Senior Financial Corp., an Initial...

PR Newswire;  April 23, 2008 ;     475 words ......Hulbert, a 16 year veteran of the reverse mortgage banking industry and former Chairwoman of the National Reverse Mortgage Lenders Association (NRMLA...into a nationwide leader of reverse mortgage retail banking. We are very...

Reverse mortgage has its good side

The Record (Bergen County, NJ);  December 31, 2004 ;     224 words ......Record (Bergen County, NJ) 12-31-2004 Reverse mortgage has its good side Date: 12-31-2004...Hicks of the (not unbiased) National Reverse Mortgage Lenders Association wrote to us, saying: "You state that the proceeds from a reverse mortgage can be received as a lump sum or regular...

Reverse mortgage can pull finances out of tailspin

Chicago Sun-Times;  July 27, 1990 ;   Mary Hirsch;   787 words ......monthly bills. But after negotiating a reverse mortgage, Gregory now receives an additional...savings kept diminishing, so I thought a reverse mortgage would make it possible for me to maintain...enjoy life," Gregory said. What is a reverse mortgage? The name says it all. Much like ...

Consider a Reverse Mortgage, But Only as a Last Resort

The Washington Post;  June 28, 2008 ;   Benny L Kass;   787 words ......that we get a reverse mortgage. Can you explain...take out a reverse mortgage only as your...Here's how a reverse mortgage works: If...relatively low mortgage balance, you can qualify...payments, with a reverse mortgage you can borrow...a reverse ...

After 20 years, HUD makes reverse mortgage deals legal

Chicago Sun-Times;  May 12, 2000 ;   JAMES T. BERGER;   437 words ......HUD) has finally legitimized the reverse mortgage. In a recent letter to lenders, HUD...Conversion Mortgage, also known as the reverse mortgage. In so doing, HUD turned what had...restrict the commission paid to the reverse mortgage originator to 2 percent of the loan...

SENIOR ALERT: REVERSE MORTGAGE OFFERS

US Fed News Service, Including US State News;  October 30, 2007 ;     527 words ......offers for a specialized loan called a reverse mortgage. Under these arrangements, eligible...But homeowners who are considering a reverse mortgage need to know that these agreements...print before accepting the terms of a reverse mortgage. Seniors who are interested in a ...