reverse mortgage expert: Certified Reverse Mortgage Professional - 03/28/14 06:27 AM
Certified Reverse Mortgage Professional
In order to become a Certified Reverse Mortgage Professional, mortgage professionals have to adhere to a rigorous list of requirements which, when completed, demonstrate the professional's commitment to excellent service and education.
In order to become a CRMP, a professional must have originated reverse mortgage for two years or more and closed at least 50 loans or more. In addition, future CRMPs must have earned 12 continuing education credits, completed NRMLA's Ethics Course and pass an exam as well as a background check. While the certification is good for 3 years, CRMPs must earn 12 CE credits … (0 comments)

reverse mortgage expert: Brokers Should Practice Effective Time Management - 06/26/13 05:46 AM
Brokers Should Practice Effective Time Management
Time is one of the few things that stops for no one.
As much as we may want time to hold up for just one second and give us a chance to breathe, it never happens. Daylight Savings Time helps--when it gives us one hour--but everytime we have to set that clock forward, a sinking feeling sets in. The feeling that time, our precious time, has been wasted and it will never be given back (!!!!).
Taking into consideration how much time we waste in the day--from mindlessly exploring the internet on our phones … (0 comments)

reverse mortgage expert: MetLife exits Reverse Mortgage Business - 05/08/12 01:15 AM
MetLife is only the most recent casualty in the Reverse Mortgage business.  Last year, my industry saw Bank of America and Wells Fargo leave this space for their own reasons.  This does not change the face of the Reverse Mortgage Program as there is still strong supply AND demand.  Its just the players who are part of the ever changing landscape.
I remain in the business and regardless of my company I offer the best service possible for anyone in Miami, South Florida, and Florida in general.
Thanks for all your support over the years!
… (1 comments)

reverse mortgage expert: Rates are still low, just not as low... - 02/02/11 01:14 AM
Just because Mortgage rates are no longer in the low 4's doesn't mean they are no longer LOW.  Rates are still very low, and below 5% for the most part.  Its all based on credit, down payment or LTV (loan to value), and whether you are picking a governemnt program like FHA/VA or if you are going with the conventional mortgages which currently have higher rates but no MIP or PMI at 80% LTV or below.
All signs are pointing towards rates inching up further, even though its a slow climb that is expected.  All economists anticipate the bond market to … (1 comments)

reverse mortgage expert: REVERSE MORTGAGE MIAMI – Not Just for the Desperate - 01/26/11 12:30 AM
This is a story about a Reverse Mortgage in Coral Gables, Miami, Florida…
Many believe that the Reverse Mortgage is for the poor, desperate, or those on the verge of foreclosure.  My grandfather feels the same way, but after years of explanation and my Aunt Uncle, and I offering our support my grandparents used the Reverse Mortgage for themselves.  Unfortunately, there are a lot of myths and misunderstandings about the program.  This blog is not about the program and how it works; rather it’s about different clients of mine who have closed using the program and why they did it.
 
… (3 comments)

reverse mortgage expert: Reverse Mortgage for Purchase - Not known by many - 01/21/11 08:39 AM
-Do you know about the Reverse Mortgage for Purchase Program aka Reverse Purchase?
-Do you have buyers or sellers who are over 62? 
-Did you know that if the buyer has a large enough down payment (30% to 50%), they can purchase a home and never have to make a single mortgage payment FOR LIFE?
-Or better yet, if you have sellers who are looking to down size, then I can show you a way for them to keep more of their proceeds from the sale, and still buy another property without a new mortgage payment.
This program is … (2 comments)

reverse mortgage expert: Reverse Mortgage Info from a Lender in the Miami & South Florida area - 01/18/11 02:54 AM
Reverse Mortgage Info from a Lender in the Miami & South Florida area. 
Most Mortgage Brokers and some Lenders offer the Reverse Mortgage, but they simply do it out of necessity or because a Reverse Mortgage client has come their way.  There are some companies that focus the majority of their attention on certain niche products, and my company and I focus over 90% of our efforts on offering the Reverse Mortgage program to our clients 62 and over.
I am a Reverse Mortgage Expert.  I specialize in this program, and focus on my attention on helping the borrowers who … (2 comments)

reverse mortgage expert: What is the Reverse Mortgage? How does it work? And what are its benefits? - 01/18/11 02:41 AM
What is the Reverse Mortgage?  How does it work?  And what are its benefits?
First of all I will tell you what the Reverse Mortgage does NOT do:
-The Lender will NOT own the property
-The Government will NOT own the property
-You are NOT selling the property
-You are NOT coming off title
-You heirs do NOT lose rights to the property
-It is NOT income so the money is tax free
 
Here is what the Reverse Mortgage DOES:
-YOU stay on title and have full rights to sell or pay off the Mortgage with no penalty
-It … (0 comments)

reverse mortgage expert: What is FHA’s MIP for the Reverse Mortgage? - 12/23/10 05:40 AM
FHA’s Mortgage Insurance Premium for the Reverse Mortgage…Why do I need it?
What is the purpose of FHA’s Mortgage Insurance Premium for the Reverse Mortgage?
The Mortgage insurance premium (MIP not PMI) is mandatory on Reverse Mortgages and it’s the main reason the closing costs are as high as they are.  Below is why it is a “necessary evil” so to speak, and is a huge benefit to the Reverse Mortgage borrower and their heirs.
 
MIP:
This guarantees that no one can kick you out of your home, no one can ask you to make payments (until you turn 150 … (0 comments)

reverse mortgage expert: Reverse Mortgage for Purchase Program aka Reverse Purchase - 12/23/10 05:36 AM
-Do you know about the Reverse Mortgage for Purchase Program aka Reverse Purchase?
-Do you have buyers or sellers who are over 62? 
-Did you know that if the buyer has a large enough down payment (30% to 50%), they can purchase a home and never have to make a single mortgage payment FOR LIFE?
-Or better yet, if you have sellers who are looking to down size, then I can show you a way for them to keep more of their proceeds from the sale, and still buy another property without a new mortgage payment.
This program is … (0 comments)

reverse mortgage expert: Blogging is like earning compound interest over time! - 12/23/10 05:28 AM
Blogging is like a monetary investment that gains compound interest!  While radio, TV, and print is the type of marketing that is more like simple interest because there is typically only a 1 time gain.
What do I mean by this?  When you blog or add info to the internet via social media or any other form, you are leaving a digital signature that will last for many years to come. 
Typically, radio, TV, and/or print media are a call to action that gets a response immediately.  If not, then the consumer will usually forget or lose your info.  A … (2 comments)

reverse mortgage expert: Are you a discount Broker? - 12/18/10 08:22 AM
You don’t want me to discount my service, so why do you want me to discount my fees?
This is something I have to consistently tell my clients.  The people who get the best deals or best bang for their buck, with anything in life, are the ones who shop and shop well.  Yet, there are times when you think you are getting the best deal because it costs less, but you are actually hurting yourself. 
 
Just as the saying goes, “YOU GET WHAT YOU PAY FOR!”
 
When clients shop around for the right mortgage they assume that … (1 comments)

reverse mortgage expert: Why do I need Mortgage Insurance for a Reverse Mortgage? - 12/18/10 07:07 AM
What is the purpose of FHA’s Mortgage Insurance Premium for the Reverse Mortgage?
The Mortgage insurance premium (MIP not PMI) is mandatory on Reverse Mortgages and it’s the main reason the closing costs are as high as they are.  Below is why it is a “necessary evil” so to speak, and is a huge benefit to the Reverse Mortgage borrower and their heirs.
 
MIP:
This guarantees that no one can kick you out of your home, no one can ask you to make payments (until you turn 150 years old, ha ha ha, seriously), and your mortgage amount owed can … (1 comments)

reverse mortgage expert: What is the Home Equity Conversion Mortgage or HECM? - 12/18/10 07:05 AM
What is the Reverse Mortgage?  How does it work?  And what are its benefits?
First of all I will tell you what the Reverse Mortgage does NOT do:
-The Lender will NOT own the property
-The Government will NOT own the property
-You are NOT selling the property
-You are NOT coming off title
-You heirs do NOT lose rights to the property
-It is NOT income so the money is tax free
 
Here is what the Reverse Mortgage DOES:
-YOU stay on title and have full rights to sell or pay off the Mortgage with no penalty
-It … (0 comments)

reverse mortgage expert: Reverse Mortgage Lender Serving Miami & South Florida - 12/11/10 09:43 AM
Reverse Mortgage Info from a Lender in the Miami & South Florida area. 
Most Mortgage Brokers and some Lenders offer the Reverse Mortgage, but they simply do it out of necessity or because a Reverse Mortgage client has come their way.  There are some companies that focus the majority of their attention on certain niche products, and my company and I focus over 90% of our efforts on offering the Reverse Mortgage program to our clients 62 and over.
I am a Reverse Mortgage Expert.  I specialize in this program, and focus on my attention on helping the borrowers who … (0 comments)

reverse mortgage expert: What is the point of Reverse Mortgage Counseling? - 12/11/10 09:35 AM
What is the point of Reverse Mortgage Counseling?
Some clients of mine complain that they have to sit through the counseling even though they fully understand the program.  I believe this counseling is highly beneficial.  It takes away the possibility that a Fraudulent Mortgage Broker will take advantage of a senior borrower.  Below are some details about the current changes to the counseling process.
 
The Reverse Mortgage Counseling has become more in depth and complex, but this is better for the borrower.  In the past, the Reverse Mortgage’s mandatory FHA Counseling was nothing more than the person spending 30 to … (2 comments)

reverse mortgage expert: Reverse Mortgage in Miami & South Florida - 11/26/10 08:26 AM
Reverse Mortgage Info from a Lender in the Miami & South Florida area. 
Most Mortgage Brokers and some Lenders offer the Reverse Mortgage, but they simply do it out of necessity or because a Reverse Mortgage client has come their way.  There are some companies that focus the majority of their attention on certain niche products, and my company and I focus over 90% of our efforts on offering the Reverse Mortgage program to our clients 62 and over.
I am a Reverse Mortgage Expert.  I specialize in this program, and focus on my attention on helping the borrowers who … (1 comments)

reverse mortgage expert: What is the Reverse Mortgage? - 11/26/10 08:20 AM
What is the Reverse Mortgage?  How does it work?  And what are its benefits?
First of all I will tell you what the Reverse Mortgage does NOT do:
-The Lender will NOT own the property
-The Government will NOT own the property
-You are NOT selling the property
-You are NOT coming off title
-You heirs do NOT lose rights to the property
-It is NOT income so the money is tax free
 
Here is what the Reverse Mortgage DOES:
-YOU stay on title and have full rights to sell or pay off the Mortgage with no penalty
-It … (1 comments)

reverse mortgage expert: Congress Extends Higher Reverse Mortgage Limits - 11/25/10 04:19 AM
Congress Extends Higher Reverse Mortgage Limits, which is great news for the Mortgage & Real Estate Industry.  What a seesaw ride the last few months have been in the Reverse Mortgage Industry.  Much of the news has been doom and gloom.  First, we waited for congress to sign the $250 Million appropriation that FHA was asking for, but it never came.  FHA needed this money to supplement and diminishing Mortgage Insurance Fund, but congress only allowed for $150M and then reduced it to $140M.  This in turn caused FHA to announce that they would lower the Principal Limit for Reverse Mortgages … (0 comments)

reverse mortgage expert: You don’t want me to discount my service, so why do you want me to discount my fees? - 11/25/10 04:07 AM
You don’t want me to discount my service, so why do you want me to discount my fees?
This is something I have to consistently tell my clients.  The people who get the best deals or best bang for their buck, with anything in life, are the ones who shop and shop well.  Yet, there are times when you think you are getting the best deal because it costs less, but you are actually hurting yourself. 
 
Just as the saying goes, “YOU GET WHAT YOU PAY FOR!”
 

When clients shop around for the right mortgage they assume … (0 comments)