I’m RJ Baxter with , reverse mortgage specialist in Colorado and 15 other states.  I want to talk today about taxes, specifically property taxes, and whether getting a reverse mortgage exempts you from property tax exemptions. There’s a couple main types of property tax exemptions that we see in different states. This of course varies…

The Hot Topic Realtors Are Talking About!- I was at a networking event yesterday talking to a bunch of different realtors, and the overall predominant topic of conversation was how great of a market it is right now for buyers. It’s such a great opportunity, and the realtors, I’ve been seeing this now for a…

One of the most common questions that we get is, can I deduct the interest on my reverse mortgage? The short answer is no. The reason why is you’re not actually making a payment. Typically on a reverse mortgage, one of the reasons why a lot of folks look at reverse mortgages is because you…

One of the most common questions we get is, do I need to maintain homeowner’s insurance on my property? I mean, I’m paying my insurance and taxes on my own on a reverse mortgage. Is a lender really going to check on that? Do I have to keep carrying homeowner’s insurance? And the answer is…

I wanted to share with you one of the most common questions we get about a reverse mortgage. And that is, how old do I need to be to get a reverse mortgage? And the short answer is 62 or older. That’s the age limit for qualifying for a reverse mortgage. However, if your spouse…

One of the most common questions we get from folks seeking a reverse mortgage is will I lose my government benefits if I take out a reverse mortgage? Will I lose my Social Security? Will I lose my Medicare? These are very, very important questions to consider when you’re looking at a reverse mortgage. And…

Does your home qualify for a reverse mortgage? And there’s a few things we look at for this. The first one is, is the home your primary residence? We cannot do a reverse mortgage on a vacation home or on an investment property. The home must be your primary residence. The second thing we look…

A question we get commonly on reverse mortgages, and that is how much money can I get on the reverse mortgage? The basic bottom line way to think about it is, it’s very low loan to value ratio, so the total loan amount versus the value of your property. The reason why is because the…

I wanted to explain an important term that you might have seen if you’re seeking a reverse mortgage and researching how they work called a maturity event. What a maturity event is, is this is referring to any event which may cause a reverse mortgage to be due and payable. This’ll happen in certain circumstances. I’m going…

The question I get commonly is, what credit score do I need to qualify for reverse mortgage? And the answer is you don’t need a credit score at all to qualify for reverse mortgage. It doesn’t matter if your credit score is low, or if you’ve had credit events in your past, you can still…