Jeri Carmicheal's (jcarmicheal) Blog

  Reverse mortgages used to have a reputation as a very expensive loan.  But things have changed a lot in the last few years. One of the largest fees on a reverse mortgage used to be the FHA MIP.  Now borrowers have the option of a new HECM Saver reverse mortgage which only carries an upfront pre...

  Both the fed and the adjustable are great reverse mortgages, but before you jump the gun and pronounce the fixed rate reverse the winner.  There are some things to know about the adjustable.The adjustable rate reverse is the reverse that allows you to take your money in differing ways:  A line ...

  Talking with a broker sales manager for a big name real estate company and after our chat he told me.  Dang! “Ya just don’t know what ya don’t know!”  I had spent the last half hour going over the HECM For Purchase Program with him because one of my buyers saw his sign on a listing and wanted t...

  What happens if I outlive a reverse mortgage?As long as the home is your principal residence, you maintain the home, pay the property taxes, insurance and homeowner dues, then the loan just stays in place with you as the homeowner.  What you are probably referring to is, if, over time you withd...