“Understanding Reverse Mortgages”...Expanding on Financial Consumer Agency of Canada information. The government provides basic details to provide a starting point for consumers. Here are a few ideas on what more you need to learn to fully understanding reverse mortgages... mortgages

The FCAC material in itallics is expanded on in the section directly below that sentence or section from "Understanding Reverse Mortgages".

1. FCAC: “A reverse ... << MORE >>

Don't let misunderstandings and misconceptions about traditional mortgages make understanding reverse mortgages even harder. Don't apply what you believe to be true about traditional mortgages to reverse mortgages until you verify that you do have everything right...Interest rates

•    Interest Rates
Interest rates matter, but contract terms and conditions may matter more. Borrowers of traditional mortgages focus on 1/4% differences in rates and overlook often-costly terms and conditions in the mortgage contract. These typically favour the ... << MORE >>

Steve Ranson, President and CEO of HomEquity Bank, provider of the CHIP Home Income Plan, spoke candidly with PJ Wade about current challenges as a reverse mortgage provider and future potential for the reverse mortgage industry. << MORE >>

1600 mortgage professionals from across Canada met in Toronto last week at MORTGAGE FORUM 2011 to exchange ideas and information on mortgages and industry trends, however, reverse mortgages--with the potential to drive a multimillion dollar industry--were not on the agenda. When I spoke with individual mortgage professionals, they were intensely interested and usually spoke of growing interest in this home equity conversion tool. Expect to hear more about reverse mortgages on this professional front...<< MORE >>

"HELP FOR SENIORS: Reverse mortgages expected to draw more interest" by FP Mortgages journalist Paul Barker (page SR 1 and 3). The lead story in the National Post's "Special Report on Mortgages" stressed the tremendous business potential in reverse mortgages. This is not news (my first book 1993). It is news that this potential may become mainstream...To paraphrase a common mis-definition of reverse mortgages, will the Canadian reverse mortgage market be exactly the same as the current mortgage industry, just backwards?<< MORE >>

What will happen and what could happen over the decades the reverse mortgage may exist? Here’s an actual example of how these two issues can combine. One that you can follow in the news and can contribute your comments to...According to Reuters’ Corbett B. Daly, “The lawsuit alleges that the Bush administration in late 2008 changed HUD practices so that a surviving spouse who is not on the mortgage would be required to pay the full loan balance, even if that balance was for more than the home's value ... << MORE >>

Education Notice: National Reverse Mortgage Lenders Association NRMLA West

NRMLA West: New Requirements, New Relationships
Fairmont Newport Beach Hotel
Newport Beach, California
March 15-16


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A reverse mortgage is not a desperate last resort although it should be the last choice taken when other acceptable options are available.

Best friend when the fit is perfect, a reverse mortgage can be a worst enemy in two situations...How are you sure advisors fully understand your point of view on staying in the home you know and love?
1. When it is the best solution and is not considered fully, so lesser options, like selling and moving when you don’t want to or need to, are taken.

2. When a reverse mortgage is taken out, and it is ... << MORE >>