Ellen Adam's Blog

Jean Chatzky gives for getting over your fear of retirement - use your Home Equity with a Reverse Mortgage! I've been in the mortgage industry for 16 years.  While working with first time home buyers is my heart of hearts, explaining the process to them, seeing the smile on their faces and the ex...

Is FHA Mortgage Insurance REALLY going to increase by 25%? It's true.  FHA announced it is increasing monthly mortgage insurance from .90% to 1.15% - a 25% increase - effective April 18th, 2011. But that doesn't have to be bad news for all my clients.  Watch this video and learn how I "taylor fit...

What are the Reverse Mortgage payout options, and are they taxable? A question I'm often asked about a Reverse Mortgage is: how do I get the money? And, will I be taxed on the money from a Reverse Mortgage? There are 6 different payout options for a Reverse Mortgage, and they are all based off th...

Our home is not paid off, can we still get a Reverse Mortgage? Question:  I'm wondering if you can help me.  I'm 66 and my wife is 64 years old.  We are interested in a Reverse Mortgage but don't know if we can get one because our home is not completely paid off.  Can we get a Reverse Mortgage if...

Do I have to be in credit trouble to get a Reverse Mortgage? Question:  I've heard that to get a Reverse Mortgage I have to be 62 and be in credit trouble.  I am not in credit trouble, but don't have a lot of retirement income.  Can I still get a Reverse Mortgage? Answer:  This is a question I am...

Can the bank kick me out of my home if I get a Reverse Mortgage? Question:  I recently turned 62 and am interested in a Reverse Mortgage.  I've heard that once the bank pays me the full amount of the Reverse Mortgage they take my home and I have to move out.  My home is full of years of memories ...

I didn't think it would happen to me, but I've been MeMe'd by Mary Yonkers! As I understand it, I must write 5 things about myself that I've never talked about on ActiveRain, so here goes: 1)  I have three children:  A daughter who is 40 and a son who is 37, and a step son who is 31. 2) My favori...