reverse mortgage: Financial Tsunami Devastates Retirees - 02/04/09 02:34 PM
A recent publication in AARP Bulletin Today, entitled "Tough Times For Retirees," describes the stark reality that many older Americans are facing as they witness their retirement savings being swept away by the financial tsunami that has devastated Wall Street and Main Street.Millions of retired Americans are facing the prospect of … (0 comments)
reverse mortgage: Top Ten List For Why Seniors Get A Reverse Mortgage Loan - 11/19/08 07:09 PM
OK, so this is not David Letterman's Top Ten List, but it is AARP's Top Ten List for why seniors are deciding to get an FHA insured HECM Reverse Mortgage loan.So, here we go: Top 10 Reasons Seniors Get A Reverse MortgageNumber 10. Investments, annuities, or long-term care insuranceNumber 9. To … (2 comments)
reverse mortgage: Reverse Mortgages Get Second Look Due To Scant Increase For Social Security Benefits - 11/05/08 12:33 PM
Social Security benefits will be increased in January 2009 for 50 million people. The increase will be 5.8 percent and will be the largest increase since 1982 when Social Security benefits increased 7.4 percent. The 2009 increase will be more than double the raise that retirees received in 2008, which was … (3 comments)
reverse mortgage: Seniors Turn To Reverse Mortgages Due To Lost Dividend Income & Stock Market Plunge - 10/12/08 07:46 PM
The unprecedented plunge of the U.S. stock market during the past week has unnerved every American regardless of age, or economic status. Anxiety is running high. No one seems to know what shoe will drop next. Each attempt by the Federal Reserve, the Secretary of the Treasury, the Congress, the coordinated … (3 comments)
reverse mortgage: Market Chaos & Reverse Mortgages - 09/23/08 06:27 PM
We are witnessing an historic calamity in our financial markets that is unprecedented since the stock market crash in 1929, which was followed by the great depression. The total affects of this meltdown are completely unknown to us as regular American taxpayers, and even more frightening, they are unknown to those … (1 comments)
reverse mortgage: Defining Non-Recourse With Regard to Reverse Mortgages - 09/16/08 11:46 AM
HECM reverse mortgages, insured by FHA and backed by HUD are the most widely used reverse mortgages in the U.S. It is estimated that 85 to 90% of all the reverse mortgages originated are HECM reverse mortgages. (Home Equity Conversion Mortgage.)The reasons for the popularity of HECM reverse mortgages are many. … (1 comments)
reverse mortgage: Can The Lender Make Me Sell or Move If I Have a Reverse Mortgage? - 09/09/08 01:18 PM
You can never be forced from your home or required to sell your home if you have an FHA insured HECM reverse mortgage loan. A question that comes up frequently from folks that are considering a reverse mortgage is:
"If I live long enough to use up all the equity in … (2 comments)
reverse mortgage: Does Hospitalization Cause a Reverse Mortgage Payoff? - 08/27/08 01:40 PM
One of the questions that I have been asked time and time again from folks considering a reverse mortgage loan is: "What happens if I have a reverse mortgage and I am hospitalized or have to go to a nursing home before I die?"This question is usually asked by someone who … (1 comments)
reverse mortgage: Housing Bill Offers Reverse Mortgage Improvements - 08/11/08 05:47 PM
The Housing and Economic Recovery Act of 2008 provides good news for consumers interested in tapping home equity through the use of an FHA insured HECM reverse mortgage. The changes that pertain to reverse mortgages have been languishing in Congress for more than two years. Thankfully, they were finally included in … (1 comments)
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A recent publication in AARP Bulletin Today, entitled "Tough Times For Retirees," describes the stark reality that many older Americans are facing as they witness their retirement savings being swept away by the financial tsunami that has devastated Wall Street and Main Street.Millions of retired Americans are facing the prospect of … (0 comments)
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