hecm: Reverse Mortgage Myths | The Truth about Reverse Mortgages - 06/19/19 12:30 PM
Reverse mortgage myths are very common. Reverse mortgages are different than a traditional forward mortgage, therefore many people are afraid of them.  Few people have studied the benefits and the guidelines but are quick to dismiss what they don’t understand.  My name is Richard Woodward, and I am a certified reverse mortgage specialist. I’m going to give you the truth about reverse mortgages.
In 2017 HUD made sweeping changes to the government insured reverse mortgage program. These changes were designed to enhance the program and reduce the number of foreclosures. I like to call these improvements the beginning of The New Reverse Mortgage Program. In … (0 comments)

hecm: Reverse Mortgage Myths | Part 2 - 06/19/19 12:13 PM
Reverse mortgage myths part two. The truth about reverse mortgages is that most people just don’t understand them. I work with loan officers and Realtors every day, and the vast majority of them have no idea of how a reverse mortgage actually works.
 I am a certified reverse mortgage specialist and I have been doing reverse mortgages for over 10 years. FHA insured reverse mortgages technically called HECM, have been around since the 80s. Originally there were no credit or income qualifications and one could borrow a great deal of their homes appraised value. Because of that, many borrowers would cash out … (0 comments)

hecm: The New Reverse Mortgages, zero monthly Mortgage payment joy - 03/07/19 03:11 PM
The New Reverse Mortgages, zero monthly Mortgage payment joy with a Reverse Mortgage. Discover what you don’t know about The New Reverse Mortgage.  Safer, Better, Smarter.
Can you relate to Jeanne & Frank? For years, this husband and wife team have helped others discover their zero mortgage payment joy* through Home Equity Conversion Mortgage (HECM: aka THE NEW Reverse Mortgage).    Now it’s Jeanne and Frank’s turn to tap into their hard-earned equity and live without the stress of monthly mortgage payments. *
Many of their real estate clients have used reverse mortgage to purchase new homes.  But, after raising three kids in the … (0 comments)

hecm: The New Reverse Mortgage Video with Richard Woodward - 02/22/19 12:13 PM
The new reverse mortgage. So much has changed in the last few years with reverse mortgages. Reverse mortgages are far safer when utilizing the FHA Government Insured HECM program.
As a licensed loan officer and certified reverse lending specialist, I can assure you that if you ever thought about a reverse mortgage, now is the time to get one.
www.mortgageprosus.com/loan-options/featured/reverse-mortgage-for-purchase/reverse-mortgage/
Reverse Mortgage
A reverse mortgages (also called home equity conversion loans or HECM) enable homeowners age 62 and older to tap into their equity without selling their home (or purchase without making mortgage payments) The lender pays you money based on the equity you’ve accrued … (0 comments)

hecm: Hey Realtors, Did You Forget Someone? - 10/02/18 02:54 PM

Does this scenario haunt you?
Maybe you’ve helped a couple like Steve and Alyssa find the perfect family home, then overlooked helping Steve’s parents in their quest to move nearby.
You may have handed two additional real estate transactions to another agent.
Steve’s baby boomer folks have tremendous equity in their existing home, but are concerned about whether they’ve saved enough for retirement. They also represent 25% of the residential real estate market. So, are you prepared to help this special sector of the market feel confident about making a move to be near loved ones?
If you’re able to share with seniors 62+ how … (0 comments)

hecm: Discover Your Zero Mortgage Payment Joy - 06/28/18 04:10 PM
Meet Jeanne and Frank. They now Enjoy Zero Mortgage Joy
For years, this husband and wife team have helped others discover their zero mortgage payment joy* through Home Equity Conversion Mortgage (HECM: aka Reverse Mortgage).  Now it’s Jeanne and Frank’s turn to tap into their hard-earned equity and live without the stress of monthly mortgage payments. *
Discover Your Zero Mortgage Payment Joy
 
Many of their real estate clients have used a reverse mortgage to purchase new homes.  But, after raising three kids in the family home, they’re looking forward to making more memories in it.  Thanks to their reverse mortgage, they’ll also have access to funds … (0 comments)

hecm: How a reverse mortgage helped an 84-year-old retired schoolteacher - 11/20/17 12:57 PM
How a reverse mortgage helped an 84-year-old retired schoolteacher purchase a home even with horrible credit.  She needed to sell her existing larger home so she could move closer to her grandchildren and save the expense of a large home.
Many seniors try to help their adult children by cosigning credit accounts with them. Unfortunately, many times those children don’t make the payments and ruin the credit of their parents. When that happens seniors have few if any alternatives for a mortgage.  This wonderful lady could not get a regular mortgage even with a huge down payment because her credit score was … (1 comments)

 
Richard Woodward  NMLS#217454, Service Beyond Expectations! Your Texas Lender (Service First Mortgage, NMLS #166487) Rainmaker large

Richard Woodward NMLS#217454

Service Beyond Expectations! Your Texas Lender

Dallas, TX

More about me…

Service First Mortgage, NMLS #166487

Address: 6800 Weiskopf Ave., Suite 200, McKinney, TX - Texas, 75070

Office: (214) 945-1066

Mobile: (972) 814-3587

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