By admin on April 18, 2011
Many senior homeowners have lived in their homes for a very long time, have no desire to move and have gotten reverse mortgages so that they can continue to live in their homes payment free for life while accessing their equity to help supply them with income or cash to meet their living needs. Still [...]
Posted in Business and Finance | Tagged a, home, mortgage, purchase, reverse, with, your |
By admin on April 2, 2011
For many seniors, home equity is roughly 30-40 percent of their net worth. They are house poor often times and don’t have the available funds to make repairs. If you and your spouse are both at least 62 years of age and have significant equity in your home, a reverse mortgage can turn that equity [...]
Posted in Business and Finance | Tagged a, help, home, keep, mortages, new, or, purchase, reverse, seniors, their |
By admin on February 2, 2011
You may have been hearing a lot about reverse mortgages these days and may be wondering how does a reverse mortgage work, what they are and if you should get one. If you own a home and have sufficient equity you have three choices if you want to tap your equity: sell your home, take [...]
Posted in Business and Finance | Tagged a, Does, dont, how, mortgage, reverse, tell, they, what, work, you |
By admin on January 4, 2011
Many people get very confused when they try to grasp how a reverse mortgage really works. They look at the different interest rates, the mortgage insurance, the servicing fees, principal limits, net principal limits and before long, they just want to know the bottom line as they’re so confused they don’t want to try to [...]
Posted in Business and Finance | Tagged a, Does, how, mortgage, reverse, work |
By admin on January 4, 2011
I can almost hear it now, This is an article written by a guy who does reverse mortgages? There probably won’t be any con’s! As passionate as we are about the reverse mortgage product, there are some drawbacks in some instances and we make certain that we point out the pro’s and con’s to all [...]
Posted in Business and Finance | Tagged amp, cons, mortgage, of, pros, reverse, the |
By admin on December 13, 2010
The last jumbo or proprietary reverse mortgage lender in the market just announced today that they are suspending their jumbo reverse mortgage program. Their official announcement came out at 5:00 tonight stating that any loans in their pipeline must close by November 26, 2008 or the loans would have to be changed to the government [...]
Posted in Business and Finance | Tagged halts, jumbo, market, mortgages, reverse, secondary |
By admin on December 10, 2010
Many senior borrowers who start looking into reverse mortgages are not aware of it, but there is a fixed rate Home Equity Conversion Mortgage (HECM) available. The HECM or Heck-um as you may hear it called, is the government insured reverse mortgage program offered by lenders and insured by the Federal Housing Administration. Most Reverse [...]
Posted in Business and Finance | Tagged 568, announced, fixed, for, mortgages, rate, reverse |