reverse mortgages: Saving and Helping Seniors
- 04/24/09 10:39 AM
I have written about Reverse Mortgages in the past, a refresher is always a welcome read. At last evenings workshop on Short Sales an elderly woman was sitting a few seats away from me. Not knowing her situation I managed to pass one of my business cards to her. She appeared lost and needing help. I can only hope that she picks up her phone and calls me to see if I could help her. I did not have the opportunity to talk with her. With our aging population, loss of stock, 401ks..etc etc. The one asset they might still have … (2 comments)
reverse mortgages: Details on purchasing a home using a Reverse Mortgage
- 12/09/08 07:17 AM
HECM for Purchase Frequently Asked Questions What is HECM for Purchase? HECM for Purchase allows seniors, age 62 or older, to purchase a new principal residence using loan proceeds from the reverse mortgage. What is the purpose of the program? The program was designed to allow seniors to purchase a new principal residence and obtain a reverse mortgage within a single transaction by eliminating the need for a second closing. The program was also designed to enable senior homeowners to relocate to other geographical areas to be closer to family members or downsize to homes that meet their … (4 comments)
I have written about Reverse Mortgages in the past, a refresher is always a welcome read. At last evenings workshop on Short Sales an elderly woman was sitting a few seats away from me. Not knowing her situation I managed to pass one of my business cards to her. She appeared lost and needing help. I can only hope that she picks up her phone and calls me to see if I could help her. I did not have the opportunity to talk with her.;)
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