http://reversemortgageloanblog.com News and discussion about Reverse Mortgages Fri, 16 May 2008 13:24:03 +0000 http://backend.userland.com/rss092 en Helen didn't want to sell her house. She was having a tough time paying for prescriptions, medical bills and she would need a new car soon. If she sold her house, she'd have to make repairs anyway. "I just didn't want to move," she said. "I probably could've gone into something ... http://reversemortgageloanblog.com/2008/05/16/could-a-reverse-mortgage-save-your-parents%e2%80%99-lifestyle/ Experts say American homeowners over the age of 62 are holding more than $4 trillion in untapped home equity that they could be using to help pay their expenses. M&I Bank Indianapolis reverse mortgage specialist Brenda Wheeler says many senior citizens don't know about reverse mortgages. She says reverse mortgages allow ... http://reversemortgageloanblog.com/2008/05/15/reverse-mortgages-can-give-seniors-added-income/ The problem: My parents have lived in their home 36 years and own it outright. My mom is ill and does not work. My dad, 71, wants to get a reverse mortgage. Is this bad timing with the housing market down? The expert: Dennis Haber, attorney at law, Jericho. The rules: Reverse ... http://reversemortgageloanblog.com/2008/05/14/dennis-haber-addresses-merits-of-reverse-mortgages/ RETIREES feeling the pinch from rising inflation and high interest rates could access a little-understood credit stream. Several financial planners suggest the under-utilised product, called a reverse mortgage and designed solely for the over-60s, could help the growing "grey army" who are home owners to supplement their incomes. But other financial advisers ... http://reversemortgageloanblog.com/2008/05/13/retirees-feel-the-pinch-from-inflation-australia/ Reverse mortgages are held out as an excellent way for house-rich, cash-poor seniors to tap into their equity without having to sell and move. And they may well be a good choice for some people. But they are not the only option. A reverse loan is meant to let people 62 ... http://reversemortgageloanblog.com/2008/05/12/look-before-slamming-it-into-reverse/ Many seniors are living longer and looking at the equity in their homes as a way to pay for the escalating cost of living. A reverse mortgage is one option. Ursula Thompson is a homeownership coordinator with the Mississippi Housing Partnership. She counsels seniors and others on all aspects of home ownership, ... http://reversemortgageloanblog.com/2008/05/09/is-a-reverse-mortgage-right-for-you-3/ While thousands of people are losing their homes to foreclosure, others are using their homes as a last resort, borrowing against the equity in their home - without making payments on the loan. Fewer people are getting reverse mortgages now because of the drop in home values, but many people who ... http://reversemortgageloanblog.com/2008/05/08/do-your-homework-before-getting-a-reverse-mortgage/ When 75-year-old Susie Clingan, of Springfield, needed an additional source of steady income in 2006 to meet higher costs of living, she turned to her most valuable possession: her home. Clingan took out a reverse mortgage from BancorpSouth, and though she declined to discuss actual figures, she appreciates the help with ... http://reversemortgageloanblog.com/2008/05/07/reverse-mortgages-steadily-climb/ As money becomes tight during the golden years, retirees are banking on their homes -- in reverse. By taking on a reverse mortgage, borrowers aged 62 and older can cash in on the value of their home and avoid paying back the loan for as long as they live in the ... http://reversemortgageloanblog.com/2008/05/06/reverse-mortgages-101/ Risky reverse mortgages become viable option as baby boomers seek ways to weather housing slump, surging costs A house increasingly is more than a roof over the head for aging Sonoma County residents - it is a tool for financing retirement. A growing number of retirees are tapping equity in their homes ... http://reversemortgageloanblog.com/2008/05/05/tapping-into-equity/