Reverse Mortgage Blog

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Mortgage and Lending - NMLS#279499
In this blog, I go into detail on reverse mortgage information through questions seniors and their families ask, industry news and current events, new program & rate options, client stories and experiences and more. From my 21 years experience as a reverse mortgage specialist, I can help guide and educate you and answer the question, is a reverse mortgage right for you and if so, what is the best option with lowest costs, interest rates and payment plan. I am easily accessible and will be happy to talk with you. Maggie O'Connell direct line 800-489-0986
As I was setting up one of my reverse mortgage seminars, a financial planner asked me why Jane Bryant Quinn is against reverse mortgages. I told himthat in the past, she would recommend it only as a last resort, but with program changes such as lower cost for the line of credit or monthly payment...
I often wonder why is there so much negativity surrounding reverse mortgages and I feel the answers are rooted in deep seated beliefs, such as the leaving a free and clear home to the children and decades of mis-information on the FHA insured HECM loan.  In addition, there seems to be an avoidanc...
You've probably heard about reverse mortgages as many older homeowner's have taken advantage of them to refinance their existing mortgage or increase their cash flow and remain in their home. But many retirees don't realize the opportunity they have to purchase a new home with the HECM reverse mo...
FAQ's Frequently Asked Questions on The NEW HECMReverse Mortgage - The Life MortgageThe new reverse mortgage financial assessment has generated confusion and questions.  Below are answers to the numerous questions asked regarding these new reverse mortgage guidelines.What is considered satisfacto...
When Applying for a Reverse Mortgage, Be Prepared forFinancial Assessment QuestionsUnderstanding the New Reverse Mortgage GuidelinesPotential Reverse Mortgage Borrowers will now be asked numerous questions to determine qualification under the new Financial Assessment Guidelines.  Below is a list ...
HECM Reverse Mortgage Purchase and RefiFinancial Assessment Guidelines and Documentation ListMaggie O'Connell is a Reverse Mortgage Specialist with offices in Danville, California and Reno, Nevadaoffering HECM and Jumbo Reverse Mortgages in all 50 States   A Financial Assessment is now part of th...
Reno - Sparks Adult Communities See Buyers Utilizing Reverse Mortgages to 'Buy Up' Links to Active Adult Senior Housing Communities in Reno - Sparks & Northern Nevada (below) When buyers search for the home of their dreams.... it's most likely above their price range.  That's when the Home Equity...
Reverse Mortgage Underwriting Guidelines Changes Request Application by Overnight Delivery If you are considering a reverse mortgage, get your application in prior to the April 27th deadline to avoid new underwriting requirements.    There are many reverse mortgage lenders out there but none with...
Reverse Mortgage News! HUD Announces Finanical Assessment Implementation Date for April 27th, 2015 Get HECM Applications in Prior to avoid Income and Credit Qualification Guidelines HUD announced the financial assessment underwriting guidelines will be applied to all borrower's with case numbers ...
Reverse Mortgage Financial Assessment is Here! Reverse Mortgage borrowers will soon be required to prove their "ability and willingness" to meet the FHA Home Equity Conversion Mortgage or HECM financial obligations. The new Financial Assessment (FA) requirements go into place for all FHA case num...

Maggie O'Connell

Reverse Mortgage Purchase Specialist
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