Blog

Jul 22 2021
Older couple driving an RV
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
Older couple shocked at paperwork
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
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 […]
Jun 8 2021
Senior couple in doorway
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
Older couple
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
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 […]