As with most Americans, older homeowners have been facing issues with rising living costs and mounting debt. As a result, tapping into home equity has become an increasingly popular financial strategy ...

While most reverse mortgage borrowers don't make regular payments, you're not actually required to wait until a triggering event to repay what you owe. In fact, paying the loan off early, either in ...

For many older Americans, retirement comes with a mix of financial security and new challenges. While Social Security provides a reliable income stream, it's rarely enough to maintain the lifestyle ...

Dear Savvy Senior: What can you tell me about reverse mortgages? When my husband passed away last year my income dropped almost in half, and I’ve been struggling to keep up with my monthly living ...

The Mortgage Industry Standards Maintenance Organization (MISMO)’s dedicated reverse mortgage development work group is targeting January 2025 as the release window for reverse mortgage standards it ...

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 ...

Listen and subscribe to Decoding Retirement on Apple Podcasts, Spotify, or wherever you find your favorite podcasts. If ever you want to clear out a room, start a conversation about reverse mortgages.

When you inherit a home with a reverse mortgage, you're given six months to pay off the balance, or up to a year if you can get the deadline extended. It's best to work with the loan servicer to avoid ...

In 2024, a key element for the reverse mortgage industry was a sense of newfound collaboration that many industry participants felt with forward mortgage players. Longbridge Financial largely sees ...

I am a retired and divorced 75-year-old woman with one daughter. She will inherit what I've got and, believe me, she needs it. About seven years ago, I had a catastrophic health issue that required me ...