If you’re considering a reverse mortgage or already have one, understanding how it concludes is essential. In this article, we’ll explore the events and considerations involved when reaching the end of a reverse mortgage’s life. Maturity Events and Defaults A reverse mortgage typically concludes due to either a maturity event...
Turning Loss into a New Beginnings and Security in Retirement In the golden years of their life, Mary and Larry were the epitome of a partnership built on love, dreams, and shared aspirations. Their home, nestled in the heart of a community they adored, was more than just a structure;...
Navigating the Journey: Understanding Your Reverse Mortgage Payoff For many of us reaching the golden years, the idea of a reverse mortgage might seem like a comfortable cushion for our retirement strategy. But, as with any financial decision, it’s natural to wonder about the details, especially concerning when and how...
When a person or a couple takes out a reverse mortgage, what are the final considerations that must be made at the end of the loan cycle?The short answer is that when the last borrower on the loan decides to move out voluntarily or because they die or are in...
If I had a group of people who were in New England for the first time and they only had one day to explore, some would want to go to the mountains, some to the beach, some to the lakes, some to Boston or Portsmouth. There are so many choices! ...
We learn best from real life examples – we, as people like to see how it has worked out for others and hopefully to learn from them. Below is an example of a client that utilized a Home Equity Conversion Mortgage, or AKA a reverse mortgage to be able to...
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