Real estate blog entries tagged with reverse mortgages by Luke Helm (www.Reverse-Mortgage-Info.net)

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reverse mortgages: Reverse Mortgage Referral Fees No More - 09/24/08 11:03 AM

Bank of America has announced that it will no longer accept reverse mortgage applications containing a broker advisor agreement in response to the new law called the National Housing Act (HR 3221). I suspect that other reverse mortgage lenders are likely to interpret the new law in the same way and … (0 comments)

reverse mortgages: Reverse Mortgages in California's Southland - 06/27/08 07:00 PM

From uninsured medical bills, to prescription drugs, to home maintenance and even at home care, social security income alone often cannot cover all of a seniors' expenses. Many Southern California seniors have found a solution to affording the high cost of living in our region with a Reverse Mortgage. And in … (1 comments)

reverse mortgages: Reverse Mortgage Interest Rates This Week - 06/24/08 11:49 AM

The following is an interest rate update on reverse mortgage programs.
FHA Reverse Mortgages (Home Equity Conversion Mortgage or ‘HECM')
The HECM rate is at 4.07%. This is based on the One Year CMT index at 2.57% plus a margin of 1.5%.
The fixed rate HECM is at 6.30% to 6.68% … (2 comments)

reverse mortgages: Florida Reverse Mortgages - 06/06/08 06:39 PM

Reverse mortgages in Florida have become increasingly popular over the past 5 years as seniors have discovered what a viable option they are to secure a more financially comfortable retirement. A few worthy reasons seniors across the state have adopted reverse mortgage programs include paying off existing mortgage debt to rid … (2 comments)

reverse mortgages: Reverse Mortgage California – Loan of Last Resort? - 05/05/08 03:10 PM

As if our industry needs any more cautionary opinions about reverse mortgages, here is a recent news story that says the programs should be a last resort, not a "ticket to the resort". Such statements toward this relatively new program are still made with some frequency. Of course the writer was … (0 comments)

reverse mortgages: Reverse Mortgage Loans or the Option ARM for Seniors - 04/30/08 01:06 PM

There are two surprisingly similar home mortgage options that seniors can consider to tap into their home equity: the reverse mortgage and the option ARM. The option-ARM has been frequently used by seniors to take cash out of their home equity since monthly payment amounts are much less than those of … (0 comments)

reverse mortgages: Reverse Mortgages or Pay-Option Mortgage – What’s the Best Loan for Seniors? - 04/23/08 03:05 PM

The reverse mortgage and the pay-option mortgage are two surprisingly similar home mortgage options that are both worth considering by senior homeowners wishing to tap into their home equity. Many seniors in recent years have used the option-ARM to access cash from their home equity, which results in far lower monthly … (0 comments)

reverse mortgages: Reverse Mortgages California: Growing in Popularity - 04/21/08 11:17 AM

To be a senior homeowner in California is, for the most part, fortunate. As we all know, many seniors who have owned a home in California for a long time have seen massive increases in their home equity. Their employer pensions may have been cut, their social security alone may not … (0 comments)

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