logo

News & Updates

Get together with SAA

Press releases and announcements

HECM, Reverse Mortgage and More

Recent news

A senior reverse mortgage is a loan given to homeowners aged, 62 years and beyond allowing them to convert part of the equity in their home to cash. A senior reverse mortgage was introduced in order to help the people who were retiring and had low income, use the accumulated wealth in their homes to pay their bills and equally meet their monthly expenses. The most common type of reverse […]

Read more

A reverse mortgage is a loan which applies to people who are 62 years old or older. Basically, a senior reverse mortgage allows people to convert part of their equity in their homes into money or cash. The main aim of introducing the senior reverse mortgage was to facilitate the retirees who have limited income or resources. This allows the people to have tax-free income without selling their homes with […]

Read more

You might be thinking about knowing the senior reverse mortgage credit requirement. This is important for you because you want to take out a loan right away. You need to get the right information at the right time so you can be on the safe side. We will let you know more about this right away. Review of Credit History and Satisfactory Credit Your reverse mortgage lender will take a […]

Read more

A senior reverse mortgage loan also known as a Home Equity Conversion Mortgage (HECM) is a unique financial tool for seniors above the age of 62. This home equity loan does not require monthly mortgage payment, but instead, it is paid after the borrower dies or moves out. Borrowers of this loan are still responsible for homeowner’s insurance including property taxes. This type of mortgage is increasingly growing in popularity […]

Read more

Upon settling for the best reverse mortgage, it is very important to look at the amortization schedule. An amortization schedule is a table of loan payment that shows the principal and the interest comprising each payment until the loan is completely paid. Basically, it provides the best estimate of how the loan will eventually grow. While the periodic payments are of the same amount early in the schedule and the […]

Read more

A senior reverse mortgage is typically a type of loan, but it is precisely a home equity loan. Every loan has a reverse mortgage interest rates that have to pay in addition to the principal amount and hence the senior reverse mortgage also have rates. The only significant difference is that for this type of loan you don’t have to make any loan payments as long as you remain in […]

Read more

Sometimes you reach a time in life where you need to raise some cash. Whether you need to pay medical bills, have decided to go on a long vacation, are planning home renovations, or are just looking to supplement your retirement income, a reverse mortgage may be exactly what you are looking for. A reverse mortgage is a special type of loan for those ages 62 and older. Senior reverse […]

Read more

A mortgage is an agreement between a bank or a creditor with an individual, group or a couple legally made, where the creditor takes the title of the borrower’s property as a cover that the loan is paid, which then expires after the debt is paid in full. In case of a divorce and a couple had taken a loan, they may need to clear one of the members who […]

Read more

Like all structures, buildings are also affected by environmental factors and wear and tear due to usage over a period. So often the homeowner will undertake renovation projects of the home so that they can continue living in the home comfortably. Installing a solar system is one of the home renovation projects that many homeowners undertake, as it will greatly reduce the monthly utility bills. Many homeowners who are over […]

Read more

In the old rules, borrowers of a senior reverse mortgage didn’t have the same rights as nonborrowers. Previously, non borrowers were left with very little options if their spouse died. The media covered some of these cases. However, the situation has changed, and new rules have been implemented by the federal government so as to deal with this issue. The rules protect non borrowing spouses of reverse mortgage and mainly […]

Read more