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Reverse Mortgage GuideReverse Mortgage GuideThe unofficial guide to reverse mortgages. A record number of senior homeowners are today using reverse mortgages as part of their retirement planning. This site is for consumers and industry professionals interested in learning more about reverse m Articles
New Jumbo Reverse Mortgage Announced
2007-10-17 20:12:00 A new and larger reverse mortgage mortgage product for homes worth as much as $2.5 million has been introduced by Lender Lead Solutions. The company says that its “Equity Plus Advantage” allows seniors with higher home values to access greater amounts of their home equity than with traditional reverse mortgage loans. “The Federal Housing Administration (FHA) sets ... read more More About: Mortgage , Reverse Mortgage , Jumbo , Anno , Mort
Reverse Mortgages for the Rich
2007-10-16 21:36:00 Do rich people need reverse mortgages? Maybe “need” is not quite the right word but you get the idea. The Pittsburgh Post-Gazette has a great story that starts off with someone getting a reverse mortgage for a $21 million home, or as the article calls it, a mansion. It also mentions a lender who two provided ... read more More About: Rich , Mortgages , Reverse Mortgage , Mort , Ages
New Retirement Plans Vie For Senior Attention
2007-10-15 19:37:00 Is there a better way to manage retirement funds? The Wall Street Journal is reporting that a number of mutual funds have now begun to enter the retirement finances arena. According to the paper, Fidelity Investments has started 11 Income Replacement Funds while the Vanguard Group says it will offer several Managed Payout funds.”Both companies have ... read more More About: Senior , Retirement , Plans , Attention , Reverse Mortgage
Who Represents Reverse Mortgage Borrowers?
2007-10-14 23:04:00 Did you know that there is a nonprofit, apolitical Pensions Rights Center. Now more than 30 years old, the center specializes in protecting the retirement rights of those who have earned pensions from their many years of work. According to GuideStar.org, a national database of nonprofit organizations, the Pensions Rights Center is “the country’s only consumer ... read more More About: Mortgage , Reverse Mortgage , Mort , Resent
HECM 100 Reverse Mortgages to Continue With Major Lender
2007-10-12 20:53:00 Last month we reported the view of one reverse mortgage lender who believed HECM 100 loans were gradually being phased out, replaced by higher-cost HECM 150 financing. Joffrey Long, a 30-year veteran of the mortgage industry and the President of Southwestern Mort gage in Granada Hills, CA, explained that the interest rates on FHA insured reverse mortgages ... read more More About: Mortgages , Major , Reverse Mortgage , Conti
Senior Home Values & Mortgage Debt Both Increase, Says Report
2007-10-11 19:54:00 National Reverse Mortgage Lenders Association has just released its second-quarter study of senior housing. In a release, NRML reports that: The value of homes owned by Americans age 62 and over increased slightly during the second quarter of 2007, but senior home equity declined slightly, according to the Reverse Mortgage Market Index. Published quarterly National Reverse Mortgage ... read more More About: Senior , Home , Report , Debt
Is It Smart To Trade Down?
2007-10-10 22:19:00 The The American Institute of Certified Public Accountants has an interesting public information collection at 360financialliteracy.org. Included in the collection are a number of items which involve reverse mortgages and related issues. One particular item, Your Home as a Source of Dollars in Retirement, offers some advice of special interest: “If your home is larger than you ... read more More About: Smart , Trade , Reverse Mortgage
North Carolina Sets Rules for Reverse Mortgage Lenders
More articles from this author:2007-10-09 01:24:00 If you need a reverse mortgage you might want to encourage your state to emulate what is being done in North Carolina . While many states seem to allow reverse mortgages from any source and through any “consultant,” North Carolina as a different approach: “The General Assembly,” says the state, “enacted the Reverse Mortgage Act in 1991 (General ... read more More About: Sets , Rules 1, 2, 3, 4, 5, 6, 7 |
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