Blog
Sep
14
2021
14
2021
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
2
2021
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
10
2021
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
5
2021
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
1
2021
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
29
2021
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
22
2021
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
17
2021
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
27
2021
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
8
2021
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 […]
