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.  ..

Life Cycle Of An Appraisal

Bruce Simmons - October 22, 2019
Life Cycle Of An Appraisal

With FHA just recently announcing they are making the “Collateral Risk Assessment” program permanent, I thought this would be good time to talk about the appraisal process. ..

How Does Financial Assessment Work & What Is A Life Expectancy Set-Aside?

Bruce Simmons - September 16, 2019
How Does Financial Assessment Work & What Is A Life Expectancy Set-Aside?

When a homeowner applies for a “forward” mortgage, the lender will want to check their credit to make sure the borrowers have good credit scores.  They will also check their income to make sure they can afford the payment. ..

Seven Reasons Why FHA Insured Reverse Mortgages Are Safer Than Conventional Loans

Bruce Simmons - July 11, 2019
Seven Reasons Why FHA Insured Reverse Mortgages Are Safer Than Conventional Loans

An FHA insured reverse mortgage is called a Home Equity Conversion Mortgage, (HECM).  They have numerous safeguards built in to the process as well as a few that have been added over the years.   ..

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.
 ..

Collateral Risk Assessment Update

Bruce Simmons - April 09, 2019
Collateral Risk Assessment Update

A couple of weeks back I attended the Western Reginal Meeting for the National Reverse Mortgage Lenders Association (NRMLA) in California. ..

What Does It Cost To Get A Home Equity Conversion Mortgage?

Bruce Simmons - March 15, 2019
What Does It Cost To Get A Home Equity Conversion Mortgage?

When I am asked what it costs to get a reverse mortgage, I answer with my most common response:  It depends. ..

The Reverse Mortgage Process

Bruce Simmons - March 11, 2019
The Reverse Mortgage Process

I often say that obtaining a reverse is a process.  This is because there are a number of steps involved and in this article I want to lay them our for you so you know exactly what to expect. ..

Retirement Income Planning – Why Open A Reverse Mortgage Before It Is Actually Needed?

Bruce Simmons - March 08, 2019
Retirement Income Planning – Why Open A Reverse Mortgage Before It Is Actually Needed?

“Would the Line of Credit ultimately be larger if opened earlier rather than later?  We can further explore this question with a more realistic example.” ..

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.  ..


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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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