Homeowners 62 and older saw their housing wealth grow by three percent or $234 billion in the fourth quarter to a record $8.05 trillion from Q3 2020, according to the latest quarterly release of the NRMLA/RiskSpan Reverse Mortgage Market Index.  The RMMI rose in Q4 ...

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Dear Carrie: My wife and I are in our 60s and looking at ways to reduce our expenses when we retire. We’ve considered downsizing, but after 27 years, our house and the neighborhood still fit us. Our home is finally ...

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Homeowners 62 and older saw their housing wealth grow by 1.4 percent or $98 billion in the fourth quarter to a record $7.05 trillion from Q3 2018, the National Reverse Mortgage Lenders Association reported today in its quarterly release of the NRMLA/RiskSpan Reverse Mortgage ...

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DEAR BENNY: I have a house and some savings. My married sister is 66 years old and retired and her husband is unemployed, but they own a condo worth about $35,000, living off her Social Security and his small inheritance. ...

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My husband took out a reverse mortgage in 2005. I was 58 and he was 62 at the time. I had to give him a quitclaim deed, and later I was put back on the deed. We have contacted our lender and asked if I could be put on the reverse mortgage or refinance it. They said no to both. We have tried to refinance with other companies, but were told we would have to come up with at least $30,000 to do this!

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DEAR BENNY: I have heard that both spouses do not have to be 62 or older in order to obtain a reverse mortgage. Can you advise? – Fred   DEAR FRED: The most common reverse mortgage is insured by the ...

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DEAR BENNY: My wife read to me your comment on the options of the reverse mortgage. You seem to portray the reverse mortgage generally in a good light. I would just like to point out that the standard FHA-backed reverse ...

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DEAR BENNY: My mother has a reverse mortgage on her home, taken out after my father died when as the survivor her name alone was on the title. The usual terms of the reverse mortgage apply, including the acceleration clause ...

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DEAR BENNY: My mother is 75, widowed and in reasonably good health with the attendant financial issues of living on a fixed income. She lives in Michigan and I am in North Carolina. My sister, age 54, lives with her ...

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