A few weeks ago, I ran into a situation that made me stop and think about something many families probably never consider.
An elderly gentleman had signed a Durable Power of Attorney in 2024. His attorney had recommended that he … Read the rest
Membership Matters
… The History of the Reverse Mortgage Loan
Many people think reverse mortgages are a relatively new idea, but they’ve actually been around for more than 65 years.
The first reverse mortgage was made in 1961 in Portland, Maine. A savings and loan executive named Nelson Haynes created … Read the rest
What Is a Reverse Mortgage Proposal?
One of the things that surprises many homeowners is how little information I need to prepare an initial reverse mortgage proposal.
Before anyone spends time completing an application or gathering paperwork, I first want to determine whether a reverse mortgage
Who Needs to Attend Reverse Mortgage Counseling?
One of the best consumer protections built into a Reverse Mortgage is required counseling. Before a Reverse Mortgage application can move forward, borrowers must complete an independent counseling session with a counselor approved by the U.S. Department of Housing … Read the rest
Why Do Different Websites Show Different Mortgage Rates? August 3, 2026
One of the questions I hear from homeowners is:
“Why does Mortgage News Daily show one mortgage rate, Freddie Mac shows another, and the Mortgage Bankers Association (MBA) shows something different?”
The short answer is…they’re all correct. They are simply … Read the rest
Reverse Mortgages Don’t Eliminate Every Housing Expense
One of the biggest misconceptions about reverse mortgages is that because there is no required monthly mortgage payment, there are no housing expenses. That’s simply not true.
You must still pay your:
- Property taxes
- Homeowners insurance
- Basic maintenance of
Reverse Mortgage: Can a Surviving Spouse Stay in the Home?
Can a Surviving Spouse Stay in the Home After a Reverse Mortgage Borrower Passes Away?
One of the most important consumer protections built into today’s FHA-insured reverse mortgages is the protection for an eligible non-borrowing spouse.
If one spouse … Read the rest
Can a Power of Attorney Be Used to Sign a Reverse Mortgage?
Many families ask this question when a homeowner wants a reverse mortgage but is unable to handle all the paperwork personally. The answer is yes, a Power of Attorney (POA) may be used in certain circumstances, but there are … Read the rest
How Is the Loan Limit Determined for a Reverse Mortgage Loan ?
One of the first questions homeowners ask is, “How much money can I qualify for with a reverse mortgage?” The answer depends on several factors, not just the value of your home.
For a federally insured Home Equity Conversion Mortgage … Read the rest
Can a Reverse Mortgage Exceed Home Value?
Many homeowners worry that a reverse mortgage could eventually grow larger than the value of their home. Is that possible? Yes. But the important question is: Who is responsible for the difference? The answer surprises many people.
The good news
Could a Reverse Mortgage Help You Buy Your Next Home?
Most people think reverse mortgages are only for homeowners who want to tap into the equity in their current home. But did you know that if you are 62 or older, you may be able to purchase your next home … Read the rest
What Are the Types of Reverse Mortgages?
Many homeowners have heard of reverse mortgages but may not realize there are different types of programs available. The two primary types are:
1. HECM (Home Equity Conversion Mortgage)
This is the most common reverse mortgage and is insured by … Read the rest
Consumer Protections Built Into Reverse Mortgages
One of the biggest misconceptions about reverse mortgages is that they are risky or unregulated. The truth is just the opposite.
Today’s Home Equity Conversion Mortgage (HECM), the FHA-insured reverse mortgage, is one of the most highly regulated mortgage programs … Read the rest
Thank You for the Wonderful Review, Beth Ann!
Beth Ann Filippiopen
I highly recommend Paul Sanfilipo and Mortgage Magic for your home loan or refinance. Paul is calm, caring, personable and on top of every detail! He made our refinance go very smoothly. If I can say, Paul