All Reverse Mortgage Company

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All Reverse Mortgage Company® is wholly owned by United Southwest Mortgage Corporation Inc., and works only with borrowers age 62 and older to fulfill their reverse mortgage needs.
We are an approved correspondent lender with the Department of Housing and Urban Development (HUD), which allows us to offer the FHA Reverse Mortgage Program.
We are proud members of the National Reverse Mortgage Lenders Association and strictly adhere to its Code of Conduct.
We maintain an A+ Exemplary rating by the BBB.

Our goal is to not only meet, but to exceed your reverse mortgage and other service expectations. It is our desire to help find you the best reverse mortgage program to meet your needs, often helping you realize thousands of dollars more in loan proceeds as well from your reverse mortgage.

Every one of our staff members is a reverse mortgage expert. We don't employ just anyone to work on your reverse mortgage loans. Our team has written and sold reverse mortgage loan programs directly to Wall Street and has insured them with HUD. Our "processors" are so much more than ordinary "paper pushers", they each have the HUD Direct Endorsement CHUMs number and have underwritten reverse mortgages so they really know what each loan needs to go through the first time, with as few delays as possible. Our goal is to be your reverse mortgage source of information, not frustration!
When you compare our pricing you will find that we are usually priced better than our competition. This is because we are able to deliver to all reverse mortgage lenders and can take advantage of the best reverse mortgage programs available which suit your needs. After all, that's what it's all about... making sure that we find the best program to fulfill your requirements and meet your needs. Since we do have the relationships in the industry, we can obtain the best pricing for all the different reverse mortgage programs and then pass that pricing advantage on to you. We use our industry contacts and expertise to make certain that our customers pay the least fees possible.
NEW! For the month of October 2010 we offering an exciting promotion which credits you the entire Mortgage Insurance Premium (Up to $12,510 Savings ). Avoid paying the single largest fee on any reverse mortgage loan by starting with a no-obligation quote & analysis.

There are no income or credit score requirements.
The money you receive does not affect public benefits such as Medicare or Social Security.
You never make a monthly mortgage payment as long as you live your home, maintain it, pay property taxes and keep up your homeowners insurance.

*always consult with your tax professional and / or trusted financial advisors.

All Reverse Mortgage® in the Wall Street Journal read story »
All Reverse Mortgage® In the Los Angeles Times. read story »

"We were treated with the highest degree of professionalism and made to feel comfortable during the process, thank you for a job well done by all who worked so hard to make this possible"
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The Reverse Mortgage is a national program for homeowners age 62 and better, which enables you to access your home's equity without a monthly repayment.
The reverse mortgage is safe and is Government-Insured by the Federal Housing Administration (FHA), a division of the Department of Housing and Urban Development (HUD). The reverse mortgage was signed into law as a national program in 1988 and since its inception has helped thousands of homeowners safely access the equity in their homes, helping them better enjoy their retirement years.
Reverse Mortgage General Requirements:

Income / Credit: No income or minimum credit score is required
Eligible Properties: 1-4 Unit properties including HUD approved Condominiums, PUD’s, and manufactured homes meeting HUD standards
Occupancy: You must occupy your home as your primary residence, maintain home in a reasonably good condition, continue paying property taxes and homeowners insurance.

It's Official! - Congress Extends $625,500 Loan Limit Through 2010
The continuing resolution that was passed by Congress yesterday and is now headed for the President's signature extends the $625,500 national loan limit for HECM through calendar year 2010. Although this is a temporary measure providing funding through 12/18/09 it will allow for a little more time for the final bill to be completed.

The Reverse Mortgage Calculator is a system designed by the Federal Housing Administration that determines a homeowner’s eligibility for a reverse mortgage HECM transaction.
Reverse mortgage proceeds available are based on the youngest borrower and property value. Unlike general consumer calculators found elsewhere, we regularly update and include current reverse mortgage programs and rates currently offered.
Borrowers have a choice of how they can receive their money. After the current liens on the property are paid off, you can choose a number of different ways to receive cash. You can choose to receive the funds all at once, in monthly installments, as a line of credit you can access as you choose, or a combination of any or all of the above.
Regardless of how you choose to receive your reverse mortgage funds, you never make a monthly payment for as long as you live in your home, maintain required taxes and insurance.

> View this week's interest rates
Interest Rates are updated every Monday afternoon following the weekly Wall Street Journal Index
Fixed Rate Cash Lump Sum: For those who plan to take the full draw of their reverse mortgage funds in the beginning anyway, such as those paying off an existing mortgage or those planning to use the money immediately for other purposes, the fixed rate reverse mortgage will often give you thousands of dollars more than the adjustable reverse mortgage options. Recent improvements to the fixed rate option has greatly reduced the costs involved.
Adjustable Rate Credit Line: Unlike Home Equity Lines of Credit offered by your local bank, the line of credit reverse mortgage cannot be closed or frozen. The line also increases in availability each month based on the unused portion.
Tenure Payment Plan: Sometimes referred to as an "annuity mortgage", the proceeds made available to you may be structured into monthly installments guaranteed for life.

A Reverse Mortgage is definitely not for all. It may surprise you to hear a reverse mortgage lender saying this but it is true.
Borrowers looking for a short term loan may be better suited for a different type of financing as the loan requires insurance, origination and third-party fees that all must be financed making the loan impractical for a short term solution.
However, for those who wish to remain in their homes and need extra income or cash to do so, the Home Equity Conversion Mortgage may be exactly what you are looking for.
Educate yourself or family on the safeguards and laws with our free Informational guides. We explain what it is, how it works and provide answers to many Frequently Asked Questions and Common Misconceptions.
You may also find current information in Our Blog > with articles, personal advise, and industry updates.
Our writer and CEO Michael G. Branson has over 32years banking experience and has been instrumental in educating some of the largest banks on the nuances of the program and its benefits to mature homeowners.

The oldest and most popular reverse mortgage is the Federally Insured HECM which was signed into law by Ronald Reagan back in 1988. HUD guarantees you will receive your funds for the life of your loan.
With the passing of the economic stimulus of major improvements the product include higher nationwide lending limit of $625,500 and the use of proceeds for a home purchase.
Non-Recourse Part of the HUD insurance guarantees that you and your children will never have to pay more than the property is worth in a bona-fide sale.
If you or your heirs attempt to sell the home and an arms-length sale nets less than the amount owed, you or your heirs will not be responsible to pay that portion which the sale did not cover. Learn more about non-recourse loans.

Mandatory counseling is one of the first steps which may take place by either phone or in person for a reverse mortgage. The role of the counseling agency is to review your unique financial situations during this private session and explore any alternatives that may be available such as selling your home and downsizing, available city or state grants, or other alternatives that may be available to you.
Although not a requirement of the reverse mortgage loan, counselors are now required to ask potential borrowers about income, assets, debts and monthly living expenses in order to perform a budget analysis. Once you have completed this session you will be provided a counseling certificate which you will need to sign and deliver to your lender of choice.
As a lender we must also give you a list of no less than 10 agencies, 5 of which are mandated by the FHA and include the National Council on Aging.

Considering Purchasing a new home?... Stay Liquid with a Federally-Insured Purchase Reverse Mortgage. You can purchase real estate without a mortgage payment! This is exciting news to Senior Americans who have wanted to downsize, upsize, move closer to family and friends, move into senior communities for the activities or amenities they offer, or for those who find that their current home simply does not meet their needs any longer.
Your Guide the Purchase HECM Starts Here:

Working with a Realtor? If you are ready to make an offer on a property you must first be issued a pre qualification and attend specific purchase counseling. We have successfully closed the Purchase HECM and are ready to assist you with the necessary steps for approval.

2011 is fast approaching and people are still asking about the reverse mortgage pros and cons. We have seen some changes over the past year and it's time to update some of the reverse mortgage pros and cons that were reported in our last article...
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HUD has made it official. With Mortgagee Letter 2010-34, HUD announces the Reverse Mortgage HECM Saver program. HUD has changed the reverse mortgage known for so many years simply as a HECM ("Heck-um" or Home Equity Conversion Mortgage) to the H...

HUD had been discussing a new variation of the Reverse Mortgage program for quite a while and they finally announced some of the particulars. The program, which they have decided to call the HECM Saver, will be a limited version of the regu...

I just read an article on reverse mortgages and how they can lead to big trouble. After I read the entire article, I became enraged. Not just angry, but really, really mad due to the fact that the man who calls himself the "ConsumerMan" obvi...