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

Reverse Mortgage Blog

FHA Lending Limit Increases for 2020

Bruce Simmons - January 21, 2020
FHA Lending Limit Increases for 2020

Effective January 1, 2020, FHA increased the Maximum Claim Amount (MCA) from $726,525 to $765,600.  ..

What Does It Mean To Be A CRMP?

Bruce Simmons - April 11, 2019
What Does It Mean To Be A CRMP?

CRMP stands for Certified Reverse Mortgage Professional.

A CRMP is a mortgage professional who has made a long-term commitment to use his or her experience and knowledge to serve older homeowners and is the highest designation a reverse mortgage professional can earn.
 ..

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.  ..

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. ..

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. ..

Home Equity Line of Credit vs Reverse Mortgage Line of Credit?

Bruce Simmons - April 10, 2018
Home Equity Line of Credit vs Reverse Mortgage Line of Credit?

We invited real homeowners to participate in a blind challenge, comparing two home equity line of credit products: a traditional home equity line of credit and a reverse mortgage line of credit. We called this the Home Equity Line of Credit Challenge. Our groups learned that while both products let you tap into the equity in your home to help you fund your retirement, there are some important differences. They discovered that there are options for how and when to repay the loans, that monthly payments and available funds can change over time, and that only one of the products is government insured. Finally, we asked them to choose which product they preferred. ..

Tight Rules On Troubled FHA Loans Increases Fees & Penalties to Servicers

Bruce Simmons - March 06, 2018
Tight Rules On Troubled FHA Loans Increases Fees & Penalties to Servicers

Servicing a troubled Federal Housing Administration-backed loan costs three times as much as a loan from government-sponsored enterprises (GSEs) — largely due to the FHA’s steep penalties for any missteps during the process. ..


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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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