Colorado’s First Certified Reverse Mortgage Specialist  - (303) 467-7821

Reverse Mortgage Blog

Retirement Plans That Incorporate Housing Wealth

Bruce Simmons - December 03, 2018
Retirement Plans That Incorporate Housing Wealth

Curtis Cloke is an award-winning financial advisor, educator and speaker with over three decades of experience helping families achieve retirement security. ..

How To Shop For A Reverse Mortgage

Bruce Simmons - November 08, 2018
How To Shop For A Reverse Mortgage

In case you didn’t know, I have a 30 minutes radio show that airs on KLZ AM 560 every Thursday afternoon at 2:30 PM and replays on Saturday and Sunday.   On October 18th, 25th and November 1st I discussed how to shop for a Home Equity Conversion Mortgage (HECM).This is the name for the FHA insured reverse mortgage. ..

Collateral Risk Assessment Update

Bruce Simmons - November 06, 2018
Collateral Risk Assessment Update

At the end of October, I attended the National Reverse Mortgage Lenders Association (NRMLA) annual conference.  We discussed FHA’s new “Collateral Risk Assessment (CRA) at length and I wanted to update you on what I learned. ..

Changes To HECM Appraisals

Bruce Simmons - October 02, 2018
Changes To HECM Appraisals

On Friday, September 28th , the Federal Housing Administration (FHA) announced it will require a second appraisal on Home Equity Conversion Mortgages (HECM) that have been flagged by the agency as having the potential for an inflated property valuation (appraisal). Beginning on October 1st, lenders will have to submit all appraisals that have an FHA case number of October 1, 2018 or later, to undergo a “collateral risk assessment” conducted by FHA. ..

Get A Reverse Mortgage Now, Especially If You Don’t Need It (part II)

Bruce Simmons - September 11, 2018
Get A Reverse Mortgage Now, Especially If You Don’t Need It (part II)

Last month in part one of this series that I discussed the benefits of “Payment Flexibility” with reverse mortgages. For this article, I want to discuss the benefits of the Line of Credit (LOC). ..

Who uses a reverse mortgage to purchase a house?

Bruce Simmons - September 04, 2018
Who uses a reverse mortgage to purchase a house?

No one, really, even though it could be a retirement gamechanger. ..

Reverse Mortgage Math - How is the loan amount calculated for a reverse mortgage?

Bruce Simmons - July 31, 2018
Reverse Mortgage Math - How is the loan amount calculated for a reverse mortgage?

Some people think that reverse mortgages are complicated in the way the loan amount is calculated.  While it is different than a regular mortgage, it is not complicated.  ..

Get A Reverse Mortgage Now, Especially If You Don’t Need It (part 1)

Bruce Simmons - July 25, 2018
Get A Reverse Mortgage Now, Especially If You Don’t Need It (part 1)

PAYMENT FLEXIBILITY

Back in 1987, when I first entered the finance business, it very quickly became evident to me that it is a whole lot easier to borrow money when you do NOT need the money than when you do. ..

Help a Bereft Loved One Get Their Finances in Order

Bruce Simmons - July 18, 2018
Help a Bereft Loved One Get Their Finances in Order

From time to time, I come across an article that I think would be beneficial to my audience. Lucille Rosetti runs the web-site www.thebereaved.org. She has graciously allowed me to repost her article on my site. www.thebereaved.org has great information about dealing with the loss of a loved one and I highly recommend you check it out. Lucille can be reached at info@thebreaved.org..

What Happens with the Reverse Mortgage When There is No Equity Left?

Bruce Simmons - July 11, 2018
What Happens with the Reverse Mortgage When There is No Equity Left?

The short answer in two words – Nothing Changes.

Before I get into more details about this specific question, I want to briefly explain what a reverse mortgage is and how it works. ..


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Bruce Simmons Reverse Mortgage Specialist

American Liberty Mortgage, Inc.
Bruce E. Simmons, CRMP
Reverse Mortgage Manager
NMLS #409914

1932 W 33rd Ave
Denver, CO 80211

Direct: (303) 467-7821
Cell: (303) 513-2748
Toll Free: 1-877-467-7801

Fax: (303) 600-7871
bruce@almortgageinc.com

Licensing: Colorado LMB #100036937 // American Liberty Mortgage, Inc NMLS #1462
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