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HECM Loan Specifics

HECM Loan Specifics

What keeps you up at night? What keeps you up at night? Financial stress and monthly cash-flow pressures create anxiety for a lot of folks. These financial pressures can be magnified when you are at retirement age. A solid financial plan can alleviate much of this...

Why I Believe in Reverse Mortgages

Why I Believe in Reverse Mortgages

I have been in the mortgage business for about 20 years and I originated my very first Reverse Mortgage back in 2005. I feel Reverse Mortgages are the best kept secret in mortgage lending…there simply isn’t a loan that has this amount of flexibility or allows for more...

Myth: A Reverse Mortgage is Expensive

Myth: A Reverse Mortgage is Expensive

Reverse Mortgage Myth Buster #4 Another misconception I hear a lot is…the idea that a Reverse Mortgage is expensive…well…here’s the truth. The basic costs of a Reverse Mortgage really aren’t that different than a traditional forward mortgage, i.e. there are title and...

Myth: Left with Large Debt at the End of Life

Myth: Left with Large Debt at the End of Life

Reverse Mortgage Myth Buster #2 A second common misconception I hear a lot surrounding Reverse Mortgages is this: If a senior homeowner does a Reverse Mortgage then the family or that senior homeowner will be left with a large debt at the end of their life…this is NOT...

Myth: The Lender Slowly Takes Over The Home

Myth: The Lender Slowly Takes Over The Home

Reverse Mortgage Myth Buster #1 Reverse Mortgages often get a bad rap…it may surprise you, but this reputation is mostly undeserved. A Gov’t insured Reverse Mortgage can be a powerful and flexible tool for a lot of people. Way too many borrowers who would benefit from...

Reverse Mortgage 101

Reverse Mortgage 101

Reverse Mortgages have suffered from misconceptions for far too long, I’d like to dispel a few of those myths today. What is a Reverse Mortgage? A HECM Reverse Mortgage is a federally regulated program for homeowners, aged 62 and older. It allows the equity in your...

Colorado Reverse Mortgage Trusted Advisor

Colorado Reverse Mortgage Trusted Advisor

Littleton based Tim Oddo and Dave Simonson specialize in consulting with homeowners who are downsizing and contemplating their next move in life. Perhaps their goal is to eliminate any mortgage payments so that they can enjoy their retirement. Tim Oddo provides...