Is a Fixed Reverse Mortgage Right For You?

By Robert Griffin
There are many common misconceptions regarding the effectiveness of fixed rate Home Equity Conversion Mortgages (HECM) or reverse mortgages. Many mature Americans, over the age of 62, are still unsure if using a fixed rate HECM is a better choice than using an adjustable interest rate reverse mortgage or ARM. Both reverse mortgage [...]

Posted Under: Reverse Mortgage
This post was written by John Andrew on May 19, 2009 Comments (0)

Reverse Mortgage - Fixed Rate Or Adjustable Rate?

By Steven Moline
Reverse Mortgages are available in fixed interest rate and adjustable interest rate loans. How should a senior decide which is best for them? To get to the answer we’ll need to understand how a Reverse Mortgage works, but let’s start with a quick review of traditional ‘forward’ mortgages.
When you purchased your home you [...]

Posted Under: Rates
This post was written by John Andrew on January 4, 2009 Comments (0)