Angella Conrard's (aconrard) Blog

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Mortgage and Lending - Reverse Mortgage Advisor
RECENT BLOG POSTS
For years, reverse mortgage originators have been telling borrowers that reverse mortgages are "non-recourse". They could never owe more than their house is worth at the time the loan is paid back. The Merriam-Webster Dictionary defines non-recourse as being or based on an agreement in which the...
12/30/2008
Considering a reverse mortgage? Here are some questions to ask your self first. It's quoted time and time again; over 95% of seniors want to live the duration of their retirement years in their own homes. Often consumers will start their research on programs, costs and numbers. I propose that if ...
11/09/2008
Purchasing a home in your retirement years just became easier for seniors looking to move, downsize or upsize with no credit score requirements or house payments for the life of the loan. HR. 3221, signed into law last summer has a provision for using reverse mortgages for home purchase that is p...
11/09/2008
The house is big, the kids are gone, you're tired of maintaining the yard and you and your spouse only use half of the house. Could it be time to move and at the same time increase your retirement nest egg and cash flow?   The passing of HR. 3221 and the modernization of FHA and reverse mortgages...
09/13/2008
 FHA Modernization language included in Bill HR 3221 A major housing bill HR 3221 passed yesterday. The president has threatenened to veto it.How does this affect seniors? The reverse mortgage association NRMLA has been working on this legislation to help older homeowners for years! We need highe...
06/25/2008
Last Week Financial Freedom announced they were discontinuing their jumbo Cash Account product. The Cash Account was the first proprietary reverse mortgage jumbo introduced as reverse mortgages became accepted into the main stream market. The reverse mortgage market is similarly affected as the f...
06/25/2008
FHA HECM Fixed Rate reverse mortgage is subject to the same guidelines as all HECM reverse mortgage. The loans are calculated on the county lending limit and vary from county to county. To find out the lending limit in your area go to: https://entp.hud.gov/idapp/html/hicostlook.cfm . There are a ...
06/25/2008
I recently took a tour of the COUNCIL ON AGING - Orange County (COAOC). The Council is an incredible resource that has been serving OC since 1973 as a 501 © (3). The Council mission is to promote adult empowerment, prevent abuse and advocate the rights and dignity of those experiencing health, di...
06/25/2008
Everbank was just recently bought by MetLife Insurance Company. MetLife is the second insurance company to buy a reverse mortgage company behind Genworth. Genworth bought Liberty Reverse earlier this year.   These purchases reinforce my thought that as Baby Boomers age you will see more and more ...
06/09/2008
Consumers want to be prudent and compare reverse mortgage options. Even with internet access, it is difficult to know what all your options are. You can go down to your local bank and ask about reverse mortgages; unfortunately a bank employee is limited to the products offered by their employer i...
06/09/2008
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