Regardless of which economist you listen to, no one disagrees with the fact that we are in a recession. It seems that the only argument now is how long it will last and what is the best way to get out of it. Millions of American families faced with the uncertainty of the economy and the steps being taken to stimulate it, coupled with the falling stock market, are left drowning in a sea of...
I always have people asking me which option is better, a fixed rate or an adjustable rate for their reverse mortgage. Both have benefits and both have drawbacks. And what about now while the margins keep moving and since lenders just announced another round of margin increases.
The answer I give the person asking the question is invariably the one that is right for YOU. And then we start to...
\"I don\'t think a reverse mortgage is for me, I planned for my retirement!\" Does this sound like something you are thinking or have thought? Then you are not alone.
We have had so many borrowers tell us that they thought they had planned adequately for their retirement and never thought they would need a reverse mortgage. Some even felt embarrassment or shame that the retirement plans...
It may surprise you to hear a reverse mortgage lender saying this but it is true. The loan is intended to be the last loan you will ever need and not a short term financial instrument.
Borrowers looking for a short term loan may be better suited for a different type of financing as reverse mortgages require mortgage insurance, origination fees and third-party fees that all must be paid...
Depending on your political persuasion, you may be expecting this Bill to be one of the best things to come along since sliced bread or one of the worst possible disasters since the dropping of the atomic bomb.
Americans are split deeply about this legislation and as one might expect, much of the split does run along party lines, but also along the lines of those who support big government...
The US Labor Department Jobs Report came our for December showing a sobering loss of yet another 524,000 jobs, which totals 1.9 Million in the year\'s final four months since the credit crisis began in September. 2008 will truly be remembered for a number of things, but as it relates to jobs, the news is all bad.
The annual jobs-lost is the highest yearly jobs-lost rate since 1945. The...
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 understand anymore.
This will be possibly an over-simplified...
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 reverse mortgage applicants.
As great as this product is, it is not right for everyone and it...
Starting January 1, 2009, FHA will begin to insure reverse mortgage loans for purchases. What does this mean? Senior borrowers age 62 and over can now purchase a home using a reverse mortgage rather than a traditional forward mortgage.
This is great news to seniors who have had a desire to purchase a new home but felt they could not either due to their credit, their income, they did not...
According to the Mortgage Bankers association, there are now a record 1.35 million homes in foreclosure. The delinquency rates also rose to 6.99% which is up from 5.59% a year ago.
Sub-Prime loans which started the real estate delinquency problems, are still leading the delinquencies at almost a 20% delinquency rate and also lead foreclosures are no longer the only loans on which the...
