Video: HECM for Purchase – Tap your Home EquityEquity is the portion of your home's value that you own. It's calculated by subtracting the balance of your mortgage and any other loans secured by the home from its current market value. Your equity grows in two ways: by paying down... More Are you a senior homeowner that feels your home no longer fits your needs? You don’t need the additional family space anymore, and maintaining a large home is expensive and can be a drain on your time and resources. It might be time to downsize and move into […]
The Reverse Mortgage Line of Credit Stra...
Financial Advisors Like the Reverse Mortgage Line of Credit Strategy As a financial advisor, you may be overlooking a significant planning tool… a reverse mortgage line of credit. The government regulated and insured FHA Home EquityEquity is the portion of your home’s value that you own. It’s calculated by subtracting the balance of your mortgage […]
What Your Credit Score Means
Video: What Your Credit Score Means A credit score is a 3-digit number based on several factors from your financial activity. It’s used to determine your creditworthiness for things like a mortgage, auto loan, or credit card. FICO creates what’s known as a FICO Score, the most widely used credit scoring model today. While there […]
Seniors – Should You Consider a Reverse
Video: Seniors – Should You Consider a Reverse Mortgage? As they enter retirement, many seniors feel comfortable with the amount of equityEquity is the portion of your home’s value that you own. It’s calculated by subtracting the balance of your mortgage and any other loans secured by the home from its current market value. Your […]
Reverse Mortgages – Paying them Off
Video: Reverse Mortgages – Paying them Off A frequently asked question about reverse mortgage loans is, “When do I have to pay it off?” There are several scenarios regarding when a reverse mortgage would have to be paid off. The first would be when the last borrower passes away or moves out for more than […]
Do You Qualify for a Reverse Mortgage?
Video Guide: Do You Qualify for a Reverse Mortgage? If you’re considering a reverse mortgage to help fund your retirement, you may be wondering, “How do I qualify?” To be eligible for a typical reverse mortgage, you must be at least 62 years of age, but for a “Jumbo” reverse mortgage – typically used for […]
Reverse Mortgages – How to Use the Funds
Senior homeowners are using the additional tax-free cash flow generated by a reverse mortgage in many creative ways to benefit themselves and their families. Homeowners are no longer required to make a principal and interestInterest: the cost of borrowing money, charged as a percentage of the outstanding balance and paid in arrears (unlike rent, which […]
Renee Duval of Bookend Lending
Video Introduction: Renee Duval of Bookend Lending Renee Duval of Bookend Lending LLC, your trusted reverse mortgage specialist with nearly four decades of experience here in New Hampshire. Renee assists REALTORS®, financial advisors, and senior homeowners in navigating reverse mortgages. A reverse mortgage allows homeowners aged 62 and older to use part of their home […]
Who Qualifies for a Reverse Mortgage?
Video Guide: Qualifying for a Reverse Mortgage If you’re considering a reverse mortgage to help fund your retirement, you may be wondering, “How do I qualify?” To be eligible for a typical reverse mortgage, you must be at least 62 years of age, but for a “Jumbo” reverse mortgage – typically used for high end, […]
How Are Reverse Mortgage Funds Used?
Video Tip: How Are Reverse Mortgage Funds Used? Senior homeowners are using the additional tax-free cash flow generated by a reverse mortgage in many creative ways to benefit themselves and their families. Homeowners are no longer required to make a principal and interestInterest: the cost of borrowing money, charged as a percentage of the outstanding […]