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seniors: Reverse Mortgage vs. REX Agreement - 03/10/08 11:42 AM
Over the weekend, I received the following question from a reader in Illinois:
Corey - do you have any thoughts on the REX Agreement? They have been advertising a lot here in Chicago and I’d like to understand how it works better. They are extremely complicated and seem rife with potential pitfalls.
Real Estate Equity Exchange, or REX, is not technically a loan. Unlike reverse mortgages, which are available in all 50 states, REX agreements are only available in California, Colorado, Illinois, Florida, New Jersey, North Carolina, Virginia and Washington state. The homeowner and real estate investment company establish an … (3 comments)

seniors: Reverse Mortgage = Economic Stimulus - 01/31/08 01:30 PM
In some of my daily reading yesterday, I came across an interesting fact I had wondered about, but never really researched. I found that the average senior between the age of 65 and 74 spends 92% of their income. This is startling, but not to be outdone, seniors 75 and older spend 98% of their income.
 
On Tuesday, the House approved a plan by a margin of 385 to 35 which excludes a great many seniors because they do not have sufficient income. However, there is some noise being made which would allow seniors to include their Social Security payments … (6 comments)

seniors: The Emotions of Reverse Mortgage - 01/22/08 12:35 PM
There was an article in USA Today on Friday entitled Reverse mortgages aren't for everyone which has caused a bit of a stir. I participated in some of the online conversation which caused at least one individual to question my credibility because, in his mind, I was using "emotion" to sell reverse mortgages. This seems to be his comeback to anything anyone says which is pro-reverse mortgage.
This reminds me that many professionals are educated beyond their humanity. Everything is numbers. It's not about people and what they want, it's about how smart I am and you're stupid or a crook … (7 comments)

seniors: Advantages To Being "Over The Hill" - 01/12/08 12:24 PM
You know, we spend our lives climbing and climbing. It takes a lot out of you, doesn’t it? The phrase “over the hill” is clearly understood as a euphemism for being past your prime, or even irrelevant. If you’ve ever hiked up a hill or climbed a mountain, you’ll find that the best view and vantage point is…the top. When you reach this plateau, you gain a perspective almost impossible to achieve from any other place or any other way. The picture you see below is one I took not long ago while visiting the Pine Mountain Lake area of Northern … (0 comments)

seniors: The Rest of the Story - 12/05/07 01:32 PM
As I have delved into the wonderful world of blogging and daily browsing of the internet for all things reverse mortgage, I have realized that there is a never ending parade of people disseminating misinformation and half-truths about reverse mortgage. These are commonly written by people who seem rather passionate against reverse mortgages in general. I have come to the conclusion that such folks are either;opposed to reverse mortgages because they don't know the truth, or...spreading untruths because they're opposed to reverse mortgagesEither way, these people sure make my days spicy! I enjoy reading these articles and sharing the truth they … (3 comments)

 

Corey Matelli

San Jose, CA

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Reverse Mortgage Company

Office Phone: (408) 689-1235

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