Reverse mortgages can help you stay in your home and even add to your monthly income. All you need is to be over 62 years of age and have enough equity in your home. Before you can take a HUD backed HECM reverse mortgage, you will need to go through a counseling session. A reverse…
Tag: Dollars and Sense
Features, July 2019
Dollars and Sense: What the average retiree spends a month
Melanie Sedam of ReverseMortgage62AZ.com Naturally, your spending in retirement will vary based on countless variables. Read on to learn how retirees’ spending habits tend to differ from the working population and how you can plan for your personal post-work needs. Spending By Category: With fewer dependents and no work-related costs to worry about, you may…
Features, June 2019
Dollars and Sense
What is a reverse mortgage? Melanie Sedam, ReverseMortgage62AZ.com Reverse mortgages were originally created in the 1980s to help Americans age 62 and older convert part of the equity in their home into money that could be used during retirement. Equity is the amount of money you have made as a result of the value of…
Features, May 2019
Dollars and Sense: Is the HECM refinance mortgage (reverse mortgage) controversial? Well, it shouldn’t be.
Melanie Sedam The implication is that there is something amiss or wrong with the HECM program. There is absolutely nothing wrong with HECM mortgages. In fact, they are the most heavily regulated mortgages in the country; they require HUD counseling even before an application can be submitted. There’s not another mortgage anywhere that can do…