Learn the truths about Reverse Mortgages

Learn the truths about Reverse Mortgages

The biggest misconception is that the bank owns the home….NOT TRUE! A requirement of the HUD loan is that the title remains with the homeowner ONLY. Some think that the home needs to be free and clear (no mortgage) This is not true, and in fact many people do...
History of Reverse Mortgages

History of Reverse Mortgages

The origins and history of reverse mortgages shows a loan product that has evolved dramatically over the last 40 years. The first reverse mortgage loan was written in 1961 by Nelson Haynes of Deering Savings & Loan (Portland, ME) to Nellie Young, the widow of his...