HOME KEEPER REVERSE LOAN BALANCE
Finding out how your loan balance is determined starts with knowing what your loan balance is, and what it is not.   With your Fannie Mae Home Keeper Reverse Mortgage, you are given a set amount up to which you can borrow.  This amount is known as the maximum principal amount, and [...]

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HOW MUCH CAN I BORROW?
Fannie Mae has several different factors that it takes into consideration when they determine how much you can borrow, and these three factors include your age or the ages of your co-borrowers (if there is more than one borrower), the value of your home, and the “adjusted property value” of your [...]

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INTRODUCTION TO REVERSE MORTGAGE FEES
There are fees associated with the reverse mortgage loan aside from the interest payments. If you have any question regarding the fees, be sure to discuss them with your local reverse mortgage lender and have them answer all of your inquiries, as you are entitled to know. Acquiring reverse mortgage loans [...]

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FINDING AN “OUT” ON REVERSE MORTGAGE LOAN
 
If you feel that you cannot continue with the reverse mortgage contract after you have signed, the law gives you three business days to cancel the contract without penalty. Called right of rescission, this borrower’s right is essentially a cool-off period for people who believe they have made a [...]

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The Home Equity Conversion Mortgage, also known as HECM, is the most popular type of reverse mortgage loan. What makes the home equity conversion mortgage so popular?
HECM Explained
The various payments options, low interest rates and the fact that it is the only reverse mortgage insured by the Federal Housing Administration (FHA), a branch of the [...]

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