Reverse mortgages allow homeowners to tap into the equity they’ve built up in their homes without having to make monthly payments.

The Home Equity Conversion Mortgage (HECM) for Purchase (H4P) program has long been positioned by reverse mortgage professionals as a viable path for expanding the base of reverse mortgage business.

CMG Home Loans, the retail lending division of CMG Financial, has its eyes on growing its dedicated reverse mortgage segment. In addition to recently making a key operations hire in an effort to ...

A forward mortgage is a mortgage loan used to purchase a home that typically involves a fixed interest rate and monthly payments. Conversely, a reverse mortgage allows homeowners 62 and older to ...

Homeowners have multiple avenues to look into if they want to tap their home equity. A home equity line of credit (HELOC) is one such tool, and while this line of credit offers flexible financing, it ...

Recently, the Department of Housing and Urban Development (HUD) solicited feedback on how to enhance the HECM program. Therefore, I thought this was a perfect opportunity to bring this ...

Not all reverse mortgages are scams, but people exploring them should be extremely wary. Many reverse mortgage scams — carried out by unscrupulous parties from financial advisors to contractors — can ...

A reverse mortgage must be paid back when the borrower dies, moves out of the home or stops fulfilling the terms of the agreement, such as paying property taxes. You might choose to get out of a ...

For many retirees, the challenge isn't just making their money last. It's figuring out how to access the wealth they've already built. With inflation still pushing up the cost of groceries, gas and ...

Finance of America agreed to acquire the home-equity conversion mortgage servicing portfolio and certain reverse-mortgage assets from PHH Mortgage.

In connection with the transaction, Finance of America will also acquire PHH’s pipeline of reverse mortgage loans, bring select members of PHH’s experienced origination team into its platform and ...

Editor’s note: This is part seven of an ongoing series throughout this year focused on helping older adults navigate the financial difficulties of gray divorce. See below for links to the other ...