Blog
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 […]
Dec
29
2020
29
2020
It’s never too late for a fresh start. In fact, it’s possible to support your retirement and move into a new home at the same time. In this video, Open Mortgage CEO and founder Scott Gordon discusses the financial flexibility of a HECM for Purchase mortgage. Some topics he covers: Downsizing or relocating to cut […]
Nov
19
2020
19
2020
Do you envision a reverse mortgage in your future? Possibly in 2021? In this video, our CEO and founder Scott Gordon advises you on preparing for a reverse mortgage application. Some of the topics he discusses: Which documents you’ll need to start gathering Communicating with heirs about your decision to apply for a reverse mortgage […]
Oct
20
2020
20
2020
While leisure travel is on hold for most of us, that’s not likely to be the case forever. As restrictions ease and confidence in our ability to do so safely returns, there will likely be a growing demand to make up for lost time. In particular, retirees may see the end of this pandemic as […]
Jul
30
2020
30
2020
Reverse mortgages have recently started to become a proactive part of a comprehensive retirement plan. They can be particularly effective for homeowners whose wealth is primarily in home equity. Watch this video if you are a new retiree who doesn’t need money now but wants the security that comes with knowing it’s available during economic […]
Jun
17
2020
17
2020
The coronavirus has tested the financial stability of many; that’s especially the case for those preparing for—or currently navigating—retirement. If you have a reverse mortgage, or you’re considering one, this video is for you. Here are some of the topics our CEO and founder, Scott Gordon, discusses: How reverse mortgages might act as a financial […]
Apr
21
2020
21
2020
Reverse mortgages are often stigmatized as a last resort financial option for retirees. This couldn’t be farther from reality. These types of loans could be a proactive way to explore your retirement plans—one in which you’re able to use home equity as an emergency lifeline for cash in your daily life, especially during periods of […]
Apr
9
2020
9
2020
Amid the COVID-19 Pandemic, emergency rate cuts by the Federal Reserve have brought the federal funds rate to nearly zero. While not directly influenced by those cuts, mortgage rates for home buyers have followed a similar, downward trend and hover near historic lows. As applications for new mortgages and refinancing grow in response, homeowners with […]
Jan
21
2020
21
2020
Retirement-age baby boomers have recently been shifting the tides of the real estate market in what’s become known as The Silver Tsunami. Increasingly interested in downsizing, empty nesters are selling their single-family homes and embracing the amenities that condos offer. Here are some core reasons behind this new trend that’s been sweeping across the country: […]
Jan
14
2020
14
2020
Home Equity Conversion Mortgages (HECM), also known as reverse mortgages, are an attractive tool for retirees looking to secure their financial future. Repayment of the loan is deferred so long as the homeowner, or non-borrowing spouse is alive, uses the home as their primary residence, pays relevant property taxes, insures the home, and maintains it […]
