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CHIP Reverse Mortgage Program in Canada | HomEquity Bank

Your home It's where you raised your family and built your memories. When something means this much to you, it can be hard to think about the challenges. But challenges do exist. If you're like many Canadians, you've spent much of your life working hard and diligently making your mortgage payments. Yet now that you need income the most, there’s a good chance the bulk of your net worth is locked up as equity in your home. Fortunately there's a solution. By choosing the CHIP Reverse Mortgage, you receive income in your lifetime while retaining full control of the place where you rest your head.

Category: Reverse mortgage


HECM Advisors Group - About Don Graves, RICP® - HECM Advisors Group

Don Graves, is the president and founder of the HECM Institute for Housing Wealth Studies and an Adjunct Professor of Retirement Income at The American College of Financial Services. He is considered one of the nation’s leading educators on HECM Reverse Mortgages in Retirement Income Planning. Don has a skill for common-sense analysis and application, a strategic focus on advanced HECM education, as well as nearly two decades of experience in the Home Equity Retirement Planning space. His teaching course at the American College currently has more than 14,000 advisors enrolled and his personal practice has generated more than 12,000 HECM consultations, leading to nearly 3,000 clients.

Category: Reverse mortgage


Home

Fill out a short form to view your free educational video series and eBook now. Questions? We’ve got answers to the following: How a Reverse Mortgage Loan Works Safeguards. Check Here for the Latest Info on Reverse Mortgages. As one of the largest reverse mortgage lenders in the U. S. , we help homeowners discover how a reverse mortgage loan may help them access funds to meet their short-term financial goals and plan for a more secure retirement. A reverse mortgage is a unique, Federal Housing Administration (FHA)-insured loan that allows eligible homeowners age 62 years and older to convert a portion of their home’s equity into tax-free1 funds without having to make monthly mortgage payments.

Category: Reverse mortgage


What Happens After Death? | All Reverse Mortgage

Seems that one of the most popular questions we get is what happens with my reverse mortgage and my home after death. After all, the reverse mortgage is intended to be the last loan that borrowers will ever need, so this is a question many Mature Americans and their heirs have on their minds. If they do get a reverse mortgage and it does enable them to live in their homes without paying a mortgage payment for the rest of their lives, what happens when they pass? Borrowers may or may not know that the benefit amount is based on the age of the youngest borrower.

Category: Reverse mortgage


Cash-strapped seniors: Weigh reverse-mortgage pros, cons

You don't have to be old, poor and stupid to get a reverse mortgage. Despite still being hawked on late-night infomercials along with miracle solvents, indispensable kitchen utensils and can't-fail weight-loss programs, reverse mortgages are becoming an increasingly popular and practical product for Americans who need income in retirement. "Those late-night ads are a really bad idea for the industry," said John Salter, a certified financial planner with Evensky & Katz/Foldes Financial and an associate professor at Texas Tech University.

Category: Reverse mortgage


Top Quality Leads for Reverse Mortgage Lenders

With the reverse mortgage industry getting more and more crowded (read: more lenders, agents, and brokers), the need for quality reverse mortgage leads has become more important. Reverse mortgage leads are what you could call “pockets of information” on the most worthwhile prospective customers. A lead contains detailed information about that customer. As the industry becomes more and more competitive, it's no wonder that the whole gamut of lenders, agents, and brokers are looking toward companies that generate reverse mortgage leads. Such reverse mortgage leads companies are spread throughout the United States.

Category: Reverse mortgage


Educating You On How Reverse Mortgages Work

Wednesday, April 19, 2017For many Americans, social security benefits are a vital part of their retirement income plan. Therefore, it’s important to understand the rules and stay informed of any changes. Below are a few lesser-known facts about social security that may surprise you. 1 Did you know that unmarried children under the age of 18 can receive benefits? […]Mortgage interest rates are likely on the rise, so if you’re thinking about refinancing or buying a home, now may be a good time. Below are some helpful tips to keep in mind as you shop for a mortgage:1 Paying Attention to Interest Rates Even a small movement in mortgage rates can have a significant […]For many Americans, the equity they have in their home is their largest asset.

Category: Reverse mortgage


Reverse Mortgage -- What Is It, How Does It Work, And More

© India Picture/Shutterstock. com A reverse mortgage is a type of home equity loan for older homeowners. It does not require monthly mortgage payments. The loan is repaid after the borrower moves out or dies. It is also known as a home equity conversion mortgage, or HECM. Reverse mortgages are often considered a last-resort source of income, but they have become a great planning tool for cash-strapped homeowners. The first FHA-insured reverse mortgage was introduced in 1989. Such loans enable seniors age 62 and older to access a portion of their home equity without having to move.

Category: Reverse mortgage


Frequently Asked Questions | American Advisors Group

FHA-insured Home Equity Conversion Mortgages (HECM) have a loan limit of $636,150 (updated January 1, 2017), regardless of the borrower’s home value. Jumbo reverse mortgages are loans that allow qualified borrowers to obtain a reverse mortgage on properties valued at up to $6 million. In 2015, AAG began offering these reverse mortgage loans, also called the AAG Advantage, in a growing number of states. Some of the important benefits are: You can never owe more than the value of your home. As long as you reside in your home and comply with the loan terms, you do not have to make payments on the loan.

Category: Reverse mortgage


A reversal on reverse mortgages? | The Portland Press Herald / Maine Sunday Telegram

The reverse mortgage industry was born in Portland in 1961 when Nelson Haynes of Deering Savings & Loan approved a loan for Nellie Young, the widow of his high school football coach, to help her stay in her home despite the loss of her husband’s income. Reverse mortgages hit their peak in the U. S. amid the financial turmoil of 2009, but have been on the decline in recent years. Now, new changes to the federal rules governing reverse mortgages could make volume shrink even more. A reverse mortgage, available to borrowers who are at least 62 years old, pays out the equity of a home through a lump sum or installments.

Category: Reverse mortgage


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