HECM for Purchase
Get HECM For Purchase Loans Through South River Mortgage What is a Home Equity Conversion Mortgage (HECM) and how is it different from HECM for…
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About Reverse Mortgages
Using a Power of Attorney for a Reverse Mortgage
Characters POA agent: third party individual named to help manage principal’s affairs Principal: the individual who authorizes the agent to act on their behalf…
Credit Review for a Reverse Mortgage
While credit history is an important qualifying factor for reverse mortgage borrowers, it is not something that will likely make or break the borrower’s opportunity…
Reverse Mortgage Counseling
To protect borrowers, reverse mortgage counseling is often required. Counseling is an important step in the reverse mortgage process as it allows the applicant to…
Making Payments on a Reverse Mortgage
Unlike most traditional mortgage loans, HECM reverse mortgage borrowers are not required to make monthly mortgage payments. Instead, payment is due in full either upon…
Reverse Mortgage on Condominiums: Requirements Explained
For years condominium owners have been denied from reverse mortgages due to strict Federal Housing Administration (FHA) guidelines. Fortunately, as of October 15, 2019, newly…
Reverse Mortgage Example
Oftentimes, questions arise from borrowers, family members and basically every other person who isn’t vested in reverse mortgages and does not exactly understand how it…
Reverse Mortgage on Manufactured Homes or Mobile Homes ?
When it comes to manufactured homes, reverse mortgages are not completely out of the question. However, a number of HUD/FHA requirements must be met in…
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