Open Resources
This book covers the basics to advanced topics on a reverse mortgage and retirement finance. From the history of the reverse mortgage up to current practices. Learn what it takes to qualify, how this loan works, if the loan is for you, and how to step through the whole process. We cover the life of the loan and how it is ultimately discharged.
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The Tao of Open shares the corporate culture of Open Mortgage and gives a snapshot of some of our people. We trademarked the phrase “Where better is possible” because of our core belief that we should all be on a journey of self-improvement. We can do better for our customers, be better for our partners and coworkers, and be better for ourselves.
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Things to know about Reverse Mortgages:
- At the conclusion of a reverse mortgage, the borrower must repay the loan and may have to sell the home or repay the loan from other proceeds
- Charges will be assessed with the loan, including an origination fee, closing costs, mortgage insurance premiums and servicing fees
- The loan balance grows over time and interest is charged on the outstanding balance
- The borrower remains responsible for property taxes, hazard insurance and home maintenance, and failure to pay these amounts may result in the loss of the home
- Interest on a reverse mortgage is not tax-deductible until the borrower makes partial or full re-payment
- This material is not from or approved by HUD, FHA, or a Government Agency
Loan Origination is a popularity contest, and it always has been. But today there is a new way to get popular, and it’s known as social media. This book explains the social media landscape and shows you where to start in 2019. It shows you what to focus on and why, how much to do, and who can help you.
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