Phil's Blog

Beautiful Hot Property in Rancho Mirage !!!

FHA-Reverse Mtg Specialist Secured Family Investment Inc. — Sat, 06 Sep 2008 01:03:18 -0500

Brett Noel | Keller Williams | 805-975-5781

251 Kavenish, Rancho Mirage, CA

Not On The market Yet - be the first to see this Property Before It sells

2BR/2.5BA Condo

offered at $629,000

Year Built	1985
Sq Footage	2,314
Bedrooms	2
Bathrooms	2 full, 1 partial
Floors	Unspecified
Parking	2 Car garage
Lot Size	3,484 sqft
HOA/Maint	$475 per month

DESCRIPTION

PREMIUM SOUTHERN EXPOSURE! Beautiful South Mountains/Fairway Views- Private Pool-Spa. Aqualink interior controls. Custom Awning w/sun and wind sensors. Open Great Room- Soaring high beamed ceilings, wet bar & built in entertainment center & fireplace. Gourmet eat-in kithcen boasts BULLNOSE SOLID SLAB GRANITE COUNTERTOPS & WINE COOLER. New wide blade window shutters throughout-New berber carpet. Dramatic South mountain views.

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
High/Vaulted ceiling	Walk-in closet	Tile floor
Family room	Living room	Dining room
Breakfast nook	Dishwasher	Refrigerator
Microwave	Laundry area - inside	Yard
Swimming pool	Jacuzzi/Whirlpool

COMMUNITY FEATURES

Garage parking

ADDITIONAL PHOTOS

Seller contact info:

Brett Noel

Keller Williams

805-975-5781

For sale by agent/broker

Equal Opportunity Housing

Posted: Sep 5, 2008, 8:55pm PDT

Hottest Buy in Rancho Mirage!!!

FHA-Reverse Mtg Specialist Secured Family Investment Inc. — Tue, 26 Aug 2008 00:17:06 -0500

Brett Noel | Keller Williams | 805-975-5781

251 Kavenish, Rancho Mirage, CA

Not On The market Yet - be the first to see this Property Before It sells

2BR/2.5BA Condo

offered at $629,000

Year Built	1985
Sq Footage	2,314
Bedrooms	2
Bathrooms	2 full, 1 partial
Floors	Unspecified
Parking	2 Car garage
Lot Size	3,484 sqft
HOA/Maint	$0 per month

DESCRIPTION

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
High/Vaulted ceiling	Walk-in closet	Tile floor
Family room	Living room	Dining room
Breakfast nook	Dishwasher	Refrigerator
Microwave	Laundry area - inside	Yard
Swimming pool	Jacuzzi/Whirlpool

COMMUNITY FEATURES

Garage parking

ADDITIONAL PHOTOS

Seller contact info:

Brett Noel

Keller Williams

805-975-5781

For sale by agent/broker

Equal Opportunity Housing

Posted: Jul 15, 2008, 9:33pm PDT

Reverse Mortgages at a record level

FHA-Reverse Mtg Specialist Secured Family Investment Inc. — Sat, 24 May 2008 17:26:31 -0500

Reverse mortgage activity continues at a record pace.

HUD reports that as of mid-April it had received 73,840 home equity conversion mortgage (HECMs) applications so far in fiscal 2008, the accounting period that began October 1st. This compares with 59,913 reverse mortgages in the same period during FY 2007.

HUD to date has insured 59,413 HECMs, compared with 57,022 reverse loans it insured during the same period in FY 2007.

It seems odd that while applications are up 23.2 percent, actual HECM loan endorsements have risen only 04.2 percent. This is also curious when you see that overall FHA endorsements are 75.5 percent higher than a year ago.

Part of the answer may be that some seniors are waiting for reverse mortgages with higher FHA loan limits.

Another reason for modest HECM growth may seem a little odd: Reverse mortgages insured by HUD have been around for a number of years - seniors have not come to HUD because the private marketplace has closed down, FHA-backed reverse mortgages have long had a dominant position in the marketplace. Alternatively, many forward borrowers have been looking for an alternative to toxic mortgages and subprime loans. The result is that reverse mortgage originations are humming along at record levels for HUD - but the demand for forward FHA loans has increased far more.

One could see a substantial increase in HECM demand if loan limits were raised - and if HUD insurance premiums declined. Stay tuned.