There are 8 common myths about Reverse Mortgages:

A reverse mortgage sells the home to the lender
Heirs will not inherit the home
The homeowner could get forced out of the home
You could outlive the reverse mortgage
Social Security and Medicare will be affected
The homeowner pays taxes on a reverse mortgage
There are large [...]

We all see commercials and news reports on Reverse Mortgages that often contradict one another. First, understand that there are now state and national initiatives addressing predatory practices on Reverse Mortgages. This is happening because it has the potential to become the latest and greatest way for predatory lenders to make a quick buck. However, keep in mind [...]

Many people are talking about Reverse Mortgages right now, so we thought we’d take the opportunity to explore different aspects of this loan option.
In this article, we’ll review the the basics. A Reverse Mortgage is a low-interest loan for a senior homeowner that uses a home’s equity as collateral. The loan amount is a percentage of the [...]

Have you wondered what the difference is between a lender and a broker, and why you should choose one over the other to support you in financing your home?
 
Here’s an article from the Everett Herald worth the read that objectively describes the roles. At Columbia Funding Mortgage, our brokers ensure that – through pre-planning and [...]