logo

News & Updates

Get together with SAA

Press releases and announcements

HECM, Reverse Mortgage and More

Recent news

For many seniors, reverse mortgages offer some significant and valuable income source. A reverse mortgage involves utilizing the equity in your property to receive a line of credit, a lump sum of bills, or any other expenses. But what are the factors every senior need to know concerning a reverse mortgage loan? No Monthly Mortgage Payments There are no monthly regular payments, unlike a regular loan of both principal and […]

Read more

The idea behind senior reverse mortgage has always been to help seniors in need. The senior reverse mortgage is only available to senior citizens to provide them a fixed source of income. With the rise of Line of Credit as a retirement tool, many retirees have turned to HECM reverse mortgage to boost the retirement security. With time, changes are made and a reverse mortgage is no exception. The Home […]

Read more

Many times people tend to misunderstand the idea around senior reverse mortgage. As a result, it is perceived as a risky and a loan not worth taking. For better understanding, a senior reverse mortgage can be referred to as a type of a home loan for the elderly that do not require them to pay monthly mortgage payments. It may be considered as a way that gives them the opportunity […]

Read more

Once you have decided on getting a reverse mortgage the next decision is to choose the best reverse mortgage lender in the market because there are a lot out there. The best choice is the one that meets your personal needs. Sometimes loans from the bank are not enough, they do require payments, and there are times that you wouldn’t be able to make the proper payments. Therefore reverse mortgage […]

Read more

(HECM) is a reverse mortgage program that allows homeowners to convert equity into cash without fixed monthly installments. Any person who goes for this program needs to continue paying their insurance and property taxes. Most importantly, the home must be maintained according to the guidelines provided by Federal Housing Administration (FHA). For one to qualify for HECM, he or she must be 62 years of age or older. Other than […]

Read more

Before you decide to get a reverse mortgage, it’s a good idea to learn as much as you can about them; determine such things as how does reverse mortgage work, what is a reverse mortgage, their benefits, and even their drawbacks. This article will explain in details about Why is reverse mortgage right for you. With a reverse mortgage, you never have to make monthly repayments for as long as […]

Read more

Refinancing reverse mortgage loan is a second home loan to pay off your first mortgage. The money borrowed by the debtor in the mortgage refinance must be higher than the amount of the reverse mortgage. As such, the senior who is the subject of the mortgage refinance will be able to pay in full the amount left to be paid for the reverse mortgage. If you are having trouble in […]

Read more

A mortgage where a homeowner can borrow money which is against the value of their home is a senior reverse mortgage. It means that they will receive money as a fixed monthly payment. Transactions are always structured in a way that they do not exceed the value of the home across the life of the loan. There are different types of senior reverse mortgages as stated below. Single-purpose reverse mortgage […]

Read more

A senior reverse mortgage is a situation where homeowners can borrow money against the value of their property with no repayment required. It is suitable for older homeowners as the person receives the loan every month in a fixed amount. The loan is only repaid when the owner of the home dies or sells the property. The loan offered cannot exceed the value of the home enabling the bank to […]

Read more

A FHA reverse mortgage is a home loan for elderly citizens. It has no monthly mortgage repayments. Borrowers are liable for property owner’s coverage and property taxes. It enables the aged to access the home equity they have in their homes now, and defer payment till they move out or die. Interest is added to the principal loan per month. The loan balance can grow to surpass the cost of […]

Read more