This morning, I was watching C-Span as I drank my morning coffee. A gentleman from the Association of Realtors was on discussing the housing market. A woman called in and asked about reverse mortgages. She said many seniors are loosing their homes and asked if reverse mortgages can help. The C-Span guest went on to say that when the senior’s home is paid for, they can draw money monthly and ease their financial burden and that it was a good thing. What he failed to mention was, your home doesn't need to be paid off.
More and more, Realtors will encounter reverse mortgages. Either with a listing where a reverse mortgage is to be paid off or using a reverse mortgage as purchase financing. The National Association of Realtors is hosting a webinar on reverse mortgages. It will be held Thursday, June 28th at 3:00 eastern time. For the NAR article and link to sign up for the webinar, click here.
Increase your sales with the reverse mortgage purchase program!
It's pretty hard to believe that you can get a fixed rate reverse mortgage for 4% interest rate but it's true! Now is a great time to get a reverse mortgage, especially if you have a home valued above the fha maximum claim amount becuase the max claim is currently $625,500 and scheduled to go down to $417,000 on October 1st. So with the incredibly low interest rates and high lending limits, make sure you don't miss this opportunity (0 comments)
In this blog, I go into detail on reverse mortgage information, through questions seniors and their families ask, industry news and current events, new programs; rate options, client stories and experiences and more. From my 20 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
maggie@rmstore.net www.ReverseMortgageStore.com
NMLS #279499 Equal Housing Opportunity/ 411500