Cliff Auerswald's (cliffff) Blog

Content provided in this article includes: 1. HUD issues Purchase Reverse Mortgage Eligibility 2. Link to Purchase Reverse Mortgage Calculator Many senior buyers and real estate agents have been waiting for HUD to issue the Mortgagee Letter which outlines the guidelines for the Home Equity Conver...

What better day to talk about obtaining your financial independence than on Independence Day?!  I don’t think our forefathers ever considered the right to a reverse mortgage when framing the Bill of Rights and our Constitution, but ever since 1988 when Ronald Reagan signed the bill authorizing th...

If you have been reading the articles about jumbo or proprietary reverse mortgages available, you may be wondering what is going on. A jumbo or proprietary reverse mortgage is any program that is not the FHA, government insured Home Equity Conversion Mortgage (HECM or "Hek-um") or the Federal Nat...

12/17/2009 UPDATE! A No Fee Reverse Mortgage is again possible! Click here and get a No Lenders Fee Quote Today!    Reverse Mortgages are a very good tool for many senior borrowers to enable them to access the equity in their home while never having to make another payment as long as they live i...

I just finished reading an article about a network news program that did a negative report on reverse mortgages citing an incident in Los Angeles of a senior borrower who was talked into buying annuities that did not mature until the year 2033 without a substantial penalty. http://video.msn.com/v...

Stop Foreclosure with a Reverse Mortgage Reverse Mortgages are not short term, hard money, bridge or balloon loans normally associated with the type of loans people are forced to get to stop a foreclosure proceeding.  But for seniors aged 62 and over, a reverse mortgage can be a life-line that r...

When is a Reverse Mortgage NOT Right?     I have seen a lot of good that Reverse Mortgages have done for senior borrowers.  I’ve seen them change lives and living situations for the better.  I’ve seen people come out of foreclosure with a reverse mortgage and never have to make another mortgage ...

Using a Reverse Mortgage to Purchase a Home    Did you know that if you are a senior borrower, aged 62 and over you can use a reverse mortgage to purchase a home as well as just to refinance your existing home?  Many senior borrowers have heard about the benefits of paying off an existing mortga...

When is a Reverse Mortgage right?     Since first offering reverse mortgages, I’ve often been asked, “How do I/we know if a reverse mortgage is right for me/us?”  This is a question that has a different answer for different people.  I always start with the same first response, “The first thing I...

Reverse Mortgage Myths by All Reverse Mortgage Company Have you been considering a reverse mortgage but are just afraid of some of the negative things you’ve heard? There are some negative “myths” that senior borrowers have heard about this type of financing that simply aren’t true and we’re goi...