Due to the recent changes in the reverse mortgage market. It has become difficult to compare benefits and costs between lenders on FHA’s HECM (Home Equity Conversion Mortgage) the most popular reverse mortgage in the country.
This site will analyze each week who is offering the best terms at the lowest cost. We use the lenders Calculators from their website.
Each week we will equally apply the same age, home value and interest rate factors and rank the results accordingly.
Bookmark this site and check back often. We UPDATE EVERY TUESDAY!
Reverse Mortgage Borrowers, Counselors, and Industry Professionals Have Benefited From This Site
Week of August 19, 2008
Facts used in this comparison:
Borrower Age: 01/01/1928 (80 years old)
Home Value: $500,000
Property Zip: 92506
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Ibis Software has been the standard of the reverse mortgage industry since 1995. Our software covers the full loan cycle from proposals to counseling to application to underwriting to documents to investor. We do not make loans, we make software programs that help you make loans.
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Read or Download FREE educational material on Reverse Mortgages provided by 3rd party sources such as AARP, HUD, Fannie Mae and NRMLA.