Industry Articles Home > Reverse Mortgage News
Non-profit credit counseling service offers free reverse mortgage counseling to seniors
2010-05-26
Reverse mortgages are popular options for seniors that have paid off their mortgage or owe very little. Many who may have little retirement income often turn to their home equity as a source of funding. Springboard NonProfit Consumer Credit Management announced they will provide information to seniors about the process at no cost.
Counseling services will begin on June 1 and help consumers decide if a government-insured reverse mortgage, known as a Home Equity Conversion Mortgage is right for them.
"We know that these are very challenging economic times," Springboard's community outreach and industry relations senior vice president Melinda Opperman said. "It's smart to know more about reverse mortgages, and by offering free counseling sessions we're able to help more seniors make an informed choice and decide if one is right for their needs," Opperman added.
Reverse mortgages are typically available to seniors ages 62 and over. The mortgage loans allow them to use their home equity to fund their retirement, pay off bills, or assist in a medical emergency. Loans from reverse mortgages are usually not paid back until the senior passes away or moves to another primary residence.
|
- Retirees should take advantage of low 15-year mortgage rates to pay off home faster
- 2010-06-02
- Reverse mortgages becoming cheaper for seniors
- 2010-05-26
- Study shows Americans' homes inadequately protected
- 2010-05-19
- Many states see a rise in reverse mortgages
- 2010-05-10
- Many financial advisors urge to seniors to pay off their mortgage before retirement
- 2010-04-30
- Massachusetts Senate adopts measures to protect tenants
- 2010-04-30
- Foreclosures hurt seniors' chance of obtaining reverse mortgages
- 2010-04-30
- HECMs got more popular in March, data shows
- 2010-04-23
- Reverse mortgages get more attractive as costs fall: NYT
- 2010-04-21
- Reverse mortgage lenders slash fees to entice consumers
- 2010-04-20
- Washington State imposes new protections for reverse mortgage borrowers
- 2010-04-15
- Pay down debt with a reverse mortgage
- 2010-04-14
- Pensions in peril: the need to look elsewhere for income
- 2010-04-08
- Reverse-mortgage protections bill passes Arizona House
- 2010-03-26
- Tough housing market dashes retirees' reverse-mortgage dreams
- 2010-03-25
- FTC supports reverse-mortgage protection rules
- 2010-03-23
- Reverse mortgages require planning: MSN Money
- 2010-03-23
- Reverse mortgages are vastly underutilized: Financial Planning magazine
- 2010-03-18
- Home prices' rise will make a reverse mortgage more attractive
- 2010-03-05
- Reverse mortgages can fund retirement dreams
- 2010-03-01
- Rescue retirement with a reverse mortgage: Motley Fool
- 2010-02-24
- Reverse mortgages can be a secure source of retirement income
- 2010-02-22
- Tough new reverse mortgage licensing test designed to protect seniors
- 2010-02-20
- Consider a reverse mortgage to make up for inadequate savings
- 2010-02-10
- Older workers seek out retirement income
- 2010-02-08
- Reverse mortgages can maintain cash flow in retirement
- 2010-02-03
- Reverse mortgage can fund home improvement, meet income shortfall
- 2010-01-27
- Reverse mortgage industry safe, finance professor says
- 2010-01-25
- Some retirees opt to pay long-term care costs with reverse mortgage, AARP says
- 2010-01-22
- Another organization announces free reverse mortgage counseling
- 2010-01-20
- Retirees may need cash from reverse mortgages after Medicaid cuts
- 2010-01-20
- Reverse mortgages can be a "great tool," Bankrate says
- 2010-01-15
- Wealthy Americans' retirement attitudes shifting, reverse mortgages may see more adoption
- 2010-01-14
- Credit counseling group announces free reverse mortgage counseling
- 2010-01-12
- Seek experts' advice on reverse mortgage, financial planner writes
- 2010-01-12
- Even with a reverse mortgage, not all retirees can afford to maintain standard of living
- 2010-01-11
- Reverse mortgage counseling available free to Arkansans
- 2010-01-04
- Seniors considering reverse mortgage should perform diligence
- 2009-12-30
- Proposed laws in California would offer new protections to reverse mortgage seekers
- 2009-12-29
- Low interest rates lead retirees to seek cash in reverse mortgages
- 2009-12-28
- Reverse mortgages are widely available, even as regular mortgages are tightening standards
- 2009-12-21
- Federal group: better reverse mortgage information should be provided to consumers
- 2009-12-18
- Economy is forcing some older people into retirement, The Wall Street Journal reports
- 2009-12-10
- Reverse mortgage counseling set to improve, The New York Times reports
- 2009-12-08
|
