Call Us Today 931-250-8585

Blog

Inheriting a Home in Crossville, Tennessee with a Reverse Mortgage

Posted by Nina Whitehurst | Feb 01, 2020 | 0 Comments

Trying to save a home from foreclosure by a reverse mortgage lender is harder than trying to save a home from foreclosure of a normal, non-reverse mortgage. This is because residential (non-reverse) mortgage lenders are not allowed to call the loan due when the borrower dies if the property is being inherited by a family member. All you have to do is keep paying the monthly payments. With a reverse mortgage, you can't just keep making the mortgage payments in order to save the home.

How to Determine if a Reverse Mortgage is Right for You

Posted by Nina Whitehurst | Sep 25, 2019 | 0 Comments

A reverse mortgage, also known as a Home Equity Conversion Mortgage (HECM), is a type of loan that allows older homeowners (62 or older) to convert part of the equity in their homes into tax-free income. Reverse mortgages are wonderful financial tools for certain individuals; however, it is a very important financial decision. If you are considering a reverse mortgage the first step is to talk with a reverse mortgage counselor.

Be Careful About Putting Only One Spouse's Name on a Reverse Mortgage

Posted by Nina Whitehurst | Sep 24, 2019 | 0 Comments

A case involving basketball star Caldwell Jones demonstrates the danger in having only one spouse's name on a reverse mortgage. A federal appeals court ruled that an insurance company may foreclose on a reverse mortgage after the death of the borrower, Mr. Jones, even though Mr. Jones’ widow is still living in the house. While there are protections in place for non-borrowing spouses, many spouses are still facing foreclosure and eviction.

Areas We Serve

Logo_202.png

Aenean lacinia bibendum nulla sed consectetur. Donec sed odio dui. Maecenas sed diam eget risus varius blandit sit amet non magna. Nulla vitae elit libero, a pharetra augue. Curabitur blandit tempus porttitor. Morbi leo risus, porta ac consectetur ac, vestibulum at eros. Cras justo odio, dapibus ac facilisis in, egestas.

Menu