FHA Increases the HECM Lending Limit

Great News! The Federal Housing Administration (FHA) just announced that the national lending limit for the HECM Reverse Mortgage Program will increase from $679,650 to $726,525 as of January 1, 2019. Why is this great news and what does it mean if you’re considering a reverse mortgage? In essence, it means that borrowers with higher home […]

Why You Should Pay Off Your Mortgage Before You Retire and What to Do if You Cant

USA Today The number of retirees carrying a mortgage balance has grown substantially over the years. In order to pay off their debt, many retirees have turned to their retirement funds to use towards their mortgage payments which may make it hard to pay for current and future living expenses. Learn how to pay off […]

Longbridge Financial, LLC Launches Platinum Mortgage Program

A New Proprietary Reverse Mortgage Allows Eligible Homeowners Access up to $4 Million in Available Cash Longbridge Financial, LLC (“Longbridge”), a national reverse mortgage loan lender and servicer, officially announced today that its new reverse mortgage program, “Platinum”, is now available to consumers and its wholesale partners. Longbridge Platinum is designed to expand the reverse […]

Forget ‘Location, Location, Location’ When making Retirement Housing Decisions

Forbes.com Jamie Hopkins, Associate Professor of Taxation and Co-Director of the American College’s New York Life Center for Retirement Income takes a deep dive into the cash-flow factors affecting homeowners  approaching retirement age in this recent Forbes article, featuring insight from Chris Mayer, CEO of Longbridge Financial and Professor of Real Estate at Columbia University: […]

Why a reverse mortgage might be a good idea for some older homeowners

Los Angeles Times Liz Weston, a certified financial planner offers financial advice for homeowners paying off their mortgage in retirement. Westin covers the basic requirements and lifestyle advantages to opening a reverse mortgage line of credit in this real-world Q&A scenario. Reverse mortgages allow borrowers to tap into their home equity to obtain cash, and […]