Blog
Jul
22
2021
22
2021
With retirement around the corner, you may have big plans for filling your more flexible schedule. One of our recent posts explained many of the ways a reverse mortgage can expand your travel options. Now we’ll talk specifically about using a Home Equity Conversion Mortgage (HECM) to take your retirement on the road. Your House […]
Jul
13
2021
13
2021
A Home Equity Conversion Mortgage (HECM) is becoming an increasingly popular tool for retirement planning. In recent years, the addition of homeowner protections, coupled with a better understanding of the responsibilities that come with these types of loans, give borrowers over the age of 62 a responsible way to access their home’s equity. Still, pursuing […]
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 […]
Jun
8
2021
8
2021
A Home Equity Conversion Mortgage (HECM), or reverse mortgage, is unlike a traditional mortgage. While it’s still a loan, the program is limited to those over the age of 62. In addition, repayment can be deferred as long the property remains the primary residence of the borrower. However, a HECM does share some similarities with […]
May
4
2021
4
2021
A Home Equity Conversion Mortgage (HECM), or reverse mortgage as it is commonly known, relies on the accrual of substantial equity. Often, a HECM is a tool used by homeowners who have successfully paid their mortgage in full but prefer not to sell the home to access its cash value. In these cases, pursuing a […]
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 […]
