Jay Beckingham's (jayb) Blog

Mortgage and Lending - Bank of England Mortgage - 385907



back in the day when we had the great RE adjustment many of my Realtor friends had put traditional equity lines of credit in place on their homes. they did so in case their income was reduced, or became unstable. Then they could use the equity line to ride out the storm until the market recovered...
well, I don't know...actually I do. Most reverse mortgages, or the most popular reverse mortgages are the FHA HECM (home equity conversion mortgage). They are insured by the FHA (US gov) and have a very distinct and powerful option, that being the guaranteed, and growing equity line of credit whi...
Okay, so what's the one thing everybody knows about reverse mortgages?you don't have to make any monthly payments, right? ever, correct?but you also know that you can if you want, right? So, No MONTHLY PAYMENTS that's pretty cool, so what does that mean? what's the impact? well, if your principle...
here's a question that I get a lot.can you use a reverse mortgage to purchase a home? two pieces of information to consider before evaluating why this question is sooooo important over 10,000 people are turning 62 every day...that's every day folks!1/3 of the population will be 65 years old or ol...
there are a lot of interesting things happening in the Reverse Mortgage industry, but as a Reverse Mortgage Planner I keep a close eye on the advisors, the Loan Officers, the Reverse Mortgage Planners...the me's so to speak, as I am a Reverse Mortgage Planner.so here's the question?Who exactly ar...

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