However, as of April 27, 2015, we can no longer just look at the home and order an appraisal. Seniors now have to qualify with their income as well. Doesn’t matter if you live in Visalia, Fresno, or anywhere else in the United States. … (0 comments)
Irene, the woman who called, was at her wits end. She has been working with her sister, the estate planning attorneys and the banks since January trying to get answers on how all of this works.
Irene’s sister is adamant that she wants to leave an inheritance to the people she loves and cares about. Those same people only want her and her husband to be taken care of in their elderly … (4 comments)
reverse mortgage tulare: Fresno Question: Can I Get a Reverse Mortgage on My Mobile Home?
- 05/15/15 05:40 AM
THIS LAST WEEK, I RECEIVED A CALL FROM A LADY IN DESPERATE NEED OF GETTING SOME QUICK CASH IN ORDER TO SAVE HER HOME.She was living in a beautiful mobile home park for 55+. Her mother had passed away a few years before and she had taken her inheritance and invested in a beautiful double-wide mobile home, also known as a manufactured home. Her home was in pristine condition. Three big bedrooms, two full bathrooms, a nice sized living room and kitchen. It was perfect for her in every way except one. She had recently become sick and could no longer work. … (0 comments)
reverse mortgage tulare: Korean War Vet Loses Home After Girlfriend Gets a Reverse Mortgage
- 05/15/15 05:37 AM
KOREAN WAR VET LOSES HOME OF 32 YEARS AFTER GIRLFRIEND GETS A REVERSE MORTGAGE.This is the headline I woke up to on Friday, April 2, 2015. The article is full of false and misleading information about Reverse Mortgages that I would like to take a moment to clarify for those who might have read this article and are confused. 1. Mr. Hamann has lived in this home since the mid-80’s. Based on this piece of data alone, I am sure Mr. Hamann knew that his girlfriend had got a reverse mortgage. She most likely would not have been old enough to get the … (1 comments)
reverse mortgage tulare: Why Do I Need Reverse Mortgage Counseling in Fresno?
- 05/15/15 05:29 AM
SO YOU KNOW YOU WANT TO PROCEED WITH A REVERSE MORTGAGE, BUT NOW YOU ARE TOLD THAT YOU MUST HAVE A COUNSELING APPOINTMENT. WHY? First of all, the counseling is required by the U.S. Housing and Urban Development also known as HUD. The counselors must be approved by HUD before they can begin counseling seniors seeking a reverse mortgage. For a list of approved counselors click HERE. WHAT SHOULD YOU EXPECT DURING YOUR COUNSELING SESSION?The appointment will take about an hour. You can choose a counselor who will do it over the phone or one that does it in person. Some of … (0 comments)
Prior to April 27, 2015, seniors were not required to income qualify for a reverse mortgage. All they had to do was make sure there was enough equity in the home to qualify.
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