Blog

Sep 14 2021
Title over image of two people
You’ve probably heard about the many benefits of reverse mortgages, but aren’t sure when the best time to apply might be. In this video, our CEO and founder, Scott Gordon, discusses several personal and financial circumstances that can help determine when including: At what age do you become eligible for a reverse mortgage How much […]
Sep 2 2021
Two people looking at a tablet
Although many homeowners over 62 opt for a Home Equity Conversion Mortgage (HECM) to eliminate their monthly mortgage payments, they may still face financial struggles. Unexpected events, such as the COVID-19 pandemic and its impact, can derail even the best plans. Fortunately, relief legislation and guidance from the Federal Housing Authority (FHA) and the Department […]
Aug 10 2021
two people with blue overlay and the title
A red-hot real estate market is giving many homeowners a big bump in equity. In this video, our CEO and founder, Scott Gordon, explores a few ways to cash in on years of hard work and currently rising equity. Some of the topics he covers: Home Equity Lines of Credit and Refinancing Home Equity Conversion […]
Aug 5 2021
hand holding small yellow house
A Home Equity Conversion Mortgage (HECM) offers an avenue to borrow a portion of your home’s value and defer repayment of the loan as long as the property remains your primary residence. It’s a flexible option for homeowners who own their home free and clear. Under certain circumstances, it can also be worth pursuing if […]
Jul 1 2021
older man on the phone
A Home Equity Conversion Mortgage (HECM) is typically promoted as a way to remain in a long-owned home despite the income limitations that might come with retirement. However, these loans, known as reverse mortgages, can also play a role for retirees looking to change their living situation, especially in light of the dramatic increases in […]
Jun 29 2021
Older couple on motorcycle
A Home Equity Conversion Mortgage (HECM) is a well-established tool for retirement-age homeowners looking to add more financial flexibility into their future. These loans, often referred to as a reverse mortgage, offer a way to capitalize on a home’s equity without having to part with the property. The eligibility requirements for a HECM include a […]
Jun 22 2021
Older couple hiking
A Home Equity Conversion Mortgage (HECM) is a useful lending tool for those over the age of 62. These reverse mortgages offer access to home equity to support retirement plans, with the repayment deferred as long as the borrowers remain in the home. Deciding if it’s the right tool for you requires careful consideration and […]
Jun 17 2021
Older couple talking
Paying off your mortgage is a major accomplishment AND an opportunity to leverage hard-earned equity to your advantage. In this video, Open Mortgage CEO and founder, Scott Gordon, discusses putting your equity to work. Some of the topics he covers: Reverse mortgages could provide you with access to funds for important daily expenses Downsizing might […]
Apr 27 2021
Older couple talking over paperwork
A reverse mortgage is a useful tool for retirees, but it also comes with several eligibility requirements and responsibilities. In this video, our CEO and founder, Scott Gordon, discusses how status changes can impact your HECM. Some of the topics he covers: Certifying that the property is your primary residence every year Paying your property […]
Apr 8 2021
Annoyed woman in front of laptop
A mortgage minus the monthly payment is an attractive offer. For homeowners over the age of 62 and with substantial equity, it’s also a realistic one. A Home Equity Conversion Mortgage (HECM) provides a loan based on a home’s value and deferred repayment while the property is the borrower’s primary residence. However, that doesn’t mean […]