Retirement News with Professor Craig

Retirement News with Professor Craig

The Retirement News blog is dedicated to the financial and physical health and well-being of older Americans. 
Whether you're already in or nearing retirement, you will find important, topical information in the blog to help you make informed decisions on your road to retiring more freely.
As a 25-year veteran in the financial services industry and a certified trainer and teacher, Professor Craig's #1 goal is to help you thrive in retirement with financial peace of mind. 

Subscribe Now



Are You a Good Candidate for a Reverse Mortgage?
Retirement Planning, Reverse Mortgage Facts

Are You a Good Candidate for a Reverse Mortgage?

A reverse mortgage loan can be a fantastic financial tool for homeowners age 62 and older. It can help you or a loved one live a more comfortable retirement, freeing up cash that can be put toward other debt such as medical expenses, or simply have an accessible source of funds when you need them. Overall, it can be a smart means to supplement retirement income — for the right candidate.

Reverse mortgages are not only for those in need of cash. But while there’s no standard applicant for a reverse mortgage, there are certain qualities that would qualify someone as a good candidate for a reverse mortgage, including: 

You’re not planning on relocating soon. Typical terms of a reverse mortgage loan require you to keep the home as your primary residence. So, if you’re planning to stay put for the next few years, refinancing with a reverse mortgage can be a great way to reduce your monthly payments. On the other hand, if you’re eyeing a home in a warmer climate or a property that’s closer to far-flung family, a Reverse Mortgage for Purchase may be a more suitable option.

You’re health-conscious. True, a reverse mortgage loan can be a great tool for helping to pay down medical expenses. But to keep your loan in good standing, you want to make sure you’re healthy enough to live in your home since it must be your primary residence, as noted above. The good news? Temporary stays at a hospital, skilled nursing facility, in-patient rehabilitation, or other healthcare facilities for less than 12 months will not trigger repayment.

You’ve planned for ongoing maintenance costs. From property taxes to homeowner’s insurance and home repairs, failure to keep current with these payments can result in defaulting on your loan. Borrowers should have a plan for how to manage the associated costs of the loan. Often, a reverse mortgage lowers the borrower’s monthly expenses, which can help offset the cost of the loan itself.

Your family prefers to see you enjoy a comfortable retirement. If leaving equity to your heirs isn’t a priority, a reverse mortgage is ideal for tapping into the equity you’ve worked so hard to build. The right loan can provide the funds to “right size” into a more comfortable home, or to stay put and be able to make modifications to safely age in place in your existing home.

Tap into funds that are yours for the taking

Not sure if you passed this reverse mortgage application checklist? Talk to an experienced loan specialist from Reverse Mortgage Funding at 888-277-1567 or check here for a full list of eligibility requirements. We’ll set up a convenient in-person appointment with a specialist from your area to find out if a reverse mortgage loan is a wise choice for a more satisfying retirement.

This content is sponsored by RMF, one of the nation’s leading reverse mortgage lenders. We are dedicated to helping older Americans retire more freely, in the comfort of their own homes. As a result of our commitment to providing an extraordinary and positive customer experience, we have earned a 98% customer satisfaction rating; an ”Excellent” rating on Trustpilot; 4.8 out of 5 stars on LendingTree; and an A+ rating with the Better Business Bureau. Call 888-277-1567 to speak with a licensed reverse mortgage specialist to learn about our retirement financing products and solutions.


If you have equity in your home and believe you meet the eligibility requirements, a HECM may be the option that could help you retire smart.

Check Eligibility



Subscribe to Retirement News with Professor Craig

Join our mailing list to get the latest in lifestyle content, financial advice, news and information from Professor Craig to live a better retirement.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

A More Flexible Home Equity Loan

If you’re 62 or older, there is a home equity line of credit option that offers greater financial flexibility than a traditional Home Equity Line of Credit (HELOC). It’s called a Home Equity Conversion Mortgage (HECM) line of credit. 
If you have an existing mortgage or home equity loan you could refinance them with a HECM line of credit and get enhanced benefits, including a flexible payment feature and a line of credit that GROWS when left untouched.
As with any mortgage, you must meet your loan obligations, keeping current with property taxes, insurance, and keeping your home in good condition.

Equity Elite Reverse Mortgage

Put Your Home Equity to Work for You

Get Your Free Reverse Mortgage Quote

By clicking "CALCULATE", you are providing your signature and express "written" consent to be contacted by or behalf of Reverse Mortgage Funding LLC, its affiliates and/or its agents (collectively Company) at the telephone, email or mailing address that you have provided for purposes of fulfilling this inquiry about reverse mortgages and/or the Company's products or services, even if you have previously registered on a "do not call" government registry or requested Company to not send marketing information to you by email and/or direct mail. You agree that the Company may use automatic telephone dialing systems and prerecorded voice messaging in connection with calls or texts made to the telephone number you provide even if the telephone number is assigned to a cellular or mobile telephone service or other service for which the called party is charged and are representing that you are the regular user of provided number. You understand that you are not required to consent to receiving autodialed calls or texts as a condition of any reverse mortgage and/or purchasing any Company products or services. If you do not wish to authorize Company to contact you in this manner, you can call 888-277-1567 to complete your request. You understand that you can revoke this consent at any time.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.