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

Reverse Mortgage Blog

25 Ways To Use A HECM Reverse Mortgage

Bruce Simmons - January 21, 2019
25 Ways To Use A HECM Reverse Mortgage

The National Revere Mortgage Lenders Association (NRMLA), puts out a monthly magazine appropriately named "Reverse Mortgage". ..

How Interest Rates On Home Equity Conversion Mortgages Determine Loan Amounts

Bruce Simmons - January 16, 2019
How Interest Rates On Home Equity Conversion Mortgages Determine Loan Amounts

Most people don’t know that there are actually two different interest rates when it comes to reverse mortgages.  ..

FHA Increases the Lending Limit for Home Equity Conversion Mortgages

Bruce Simmons - January 14, 2019
FHA Increases the Lending Limit for Home Equity Conversion Mortgages

FHA has increased the Maximum Lending Limit for the Home Equity Conversion Mortgage (HECM) for 2019  from $679,650  to $726,525.  This is the third year in a row that FHA has increased the lending limit. ..

The Reverse Mortgage For Purchase Money Page

Bruce Simmons - January 10, 2019
The Reverse Mortgage For Purchase Money Page

69-year-old Alice decides to sell her home and downsize. She sells her home for $325,000 and after $18,000 in closing costs and paying off a $30,000 HELOC balance has $277,000 remaining. However, she has fallen in love with a new patio home for $400,000. She knows she can’t afford it because she cannot afford a new mortgage payment plus the HOA dues on her SS and pension of $1,850 per month. But what if she didn’t have a mortgage payment*?...

 ..

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. ..


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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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