Blog
1,
2018
If you’re in the market for a reverse mortgage (also known as a Home Equity Conversion Mortgage, or HECM), it’s a guarantee you’ll have a lot of questions, including what you’ll need to provide to make it happen. Even in the digital age, documents and paperwork can take some time and planning, so it’s good […]
18,
2017
Home equity conversion mortgages (HECM), also known as reverse mortgages, let eligible Americans 62 and older borrow money from their home equity. While HECMs can be a powerful tool for certain individuals and families, they’re not meant for everyone. Watch this video to learn if a HECM could be right for you.
5,
2017
Are harsh winters putting a chill on your retirement plans? If snow and ice are keeping you from year-round enjoyment of your golden years, perhaps an annual change of scenery is in order. While not for everyone, the lifestyle of a winter visitor, aka snowbirds, may be just the thing to heat up a conventional […]
28,
2017
The wellbeing of a child is typically a parent’s highest priority; parents make every effort to keep them healthy, happy and safe. However, as time goes on, these roles can reverse, with adult children feeling responsible for the care of their aging parents. Starting the Conversation Navigating this transition is not always easy. Parents often […]
20,
2017
Let’s talk home equity. As we navigate the complex world of home financing, it’s important to know exactly what the term means, and how it relates to you. Here’s a basic definition as it pertains to the homeowner: Equity is the difference between how much your home is worth and how much you owe on […]
9,
2017
There’s no shortage of choices when it comes to a Home Equity Conversion Mortgage (HECM). Also commonly referred to as a reverse mortgage, it offers an array of options that can be tailored to specific needs of the borrower. Using the loan to bulk up a fixed monthly income? Perhaps you’d like to travel more […]
30,
2017
26,
2017
If you’re considering refinancing, you’ll need to do the numbers more than once—and different homeowners have different needs and goals. If you’re a recent retiree with a traditional 30-year fixed rate mortgage, the current rates on a 15-year mortgage might have you wondering: is refinancing worth it? On the other hand, parents with a young […]
9,
2017
If you’ve found yourself in a house that has rooms going unused, or you’ve abandoned your sewing, crafting or model ship-building room, there are plenty of ways to get that square footage back to work. While some of these are easy to implement, others may take a little bit of preparation and foresight, but could […]
27,
2017
Open Mortgage is committed to keeping all of our customers up to date on today’s reverse mortgage environment. Recently, The Department of Housing and Urban Development (HUD) announced changes to both the Reverse Mortgage Initial Principal Limit (“PL” – the amount you are able to borrow) and the Mortgage Insurance Premium (MIP). These changes have […]
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