reverse mortgage florida: How Often Do You Blog? - 11/14/13 11:13 PM
How Often Do You Blog?
As a general rule, I usually blog, explore other blogs and comment on posts at least once a day. I used to blog regularly, back in 2010, before I got too busy to continue. The truth is, if you don't make a habit of blogging, the habit is lost. Like anything else, you have to practice your skills so that they get better, so that you learn and so that you can share what you've accomplished.
If I take more than a few days off of blogging, it can become dangerously easy to loose all that I've … (4 comments)

reverse mortgage florida: Are You an Ostrich? - 10/13/13 10:11 AM
Are You an Ostrich?
According to Reverse Focus, someone suffering from Ostrich Syndrome is: "sticking their head in the sand and hoping they'll never have to face their issues or deal with them when the time comes."
I see it plenty in the Reverse Mortgage industry. Retirees who didn't plan for their retirement, or waited until it got better. Except things didn't and now their stuck. Before you get stuck with your head in the sand, though, it's important to ask yourself:
"Are You an Ostrich?"
Do you stick your head in the sand and hope it all goes away? Or avoid fast approaching … (3 comments)

reverse mortgage florida: Don't Let One Bad Apple (Or a Few) Ruin the Whole Bunch - 10/02/13 12:08 AM
Don't Let One Bad Apple (Or a Few) Ruin the Whole Bunch
Financial Freedom Strikes Again!
An article on KHOU Houston's website, "Texas senior citizen's home ownership threatened by reverse mortgage loan," reports:
"Janet Tannehill, in order to ease her financial burdens, took out a reverse mortgage through One West's now defunct reverse mortgage subsidiary, Financial Freedom. Now, she is in foreclosure because of her reverse mortgage..."
Sounds appalling right? Well, there's more to this story, even if KHOU does not report it.
Namely, the fact that Tannehill took out a reverse mortgage with a PRIVATE LENDER, uninsured by the FHA, and failed to … (0 comments)

reverse mortgage florida: There is No "Magic Number" in Retirement Planning - 09/16/13 01:14 AM
There is No "Magic Number" in Retirement Planning
What is the magic number? When will I get to the magic number? Is there even a magic number?
What am I talking about?
The amount of money you will need in order to retire comfortably.
The truth is, I don't think there is one. I don't think there ever was one, despite the fact that many people thought there was. 
Why can there never be one? Well, we are not fortune tellers. In order to have the magic number, we would need to know what will happen in the future. That is … (0 comments)

reverse mortgage florida: Work to Live or Live to Work...Where Do We Draw the Line? - 09/13/13 12:53 AM
Work to Live or Live to Work...Where Do We Draw the Line?
It's an important question. It's also one that many people have been asking themselves since the death of Bank of America Merrill Lynch intern, Moritz Erhardt (or at least I have). If his death says anything, is that we work too much, stress too much, worry too much, and eventually, all these happen can lead to a very dark place.
I'm not saying give up everything and go live a life of leisure and relaxation because that's not realistic but we should take a step back and evaluate how much … (6 comments)

reverse mortgage florida: Techno Savvy, Business Forward - 09/11/13 07:56 AM
Techno Savvy, Business Forward
In order to continue to be on top of the game, we must adapt to the new changes, not just in the market, but in our personal lives as well. Technology is one of those personal changes that can end up benefiting, not just our business, but our lives in general as well.
In a blog post, Six Quick and Inexpensive Way to Turn Real Estate Technology Excuses into Solutions, Sam DeBord talks about relatively painless ways to get ahead of the curve and become a better agent.
Adjust Your Smart Phone Attitude. It seems incredible that … (2 comments)

reverse mortgage florida: HECM Saver Reverse Mortgage Calculators in Monroe County, Florida - 09/10/13 12:28 AM
HECM Saver Reverse Mortgage Calculators in Monroe County, Florida
Many reverse mortgage sites, including my own, have a reverse mortgage calculator in place to help potential clients determine if a reverse mortgage is right for them before contacting a broker or lender.
Many ask the obvious question such as your age, the value of your home and your current mortgage balance.
Nonetheless, when considering a reverse mortgage it is always best to talk to a representative in person before fulling deciding to commit. The specifics of a case differ from client to client and it is my job to decide how a reverse mortgage can work best for … (0 comments)

reverse mortgage florida: Reverse Mortgage Calculators in Palm Beach County, Florida - 09/04/13 12:09 AM
Reverse Mortgage Calculators in Palm Beach County, Florida
Many reverse mortgage sites, including my own, have a reverse mortgage calculator in place to help potential clients gauge if a reverse mortgage is right for them before contacting a broker or lender. Many ask the obvious question such as your age, the value of your home and your current mortgage balance.
Nonetheless, when considering a reverse mortgage it is always best to talk to a representative in person before fulling deciding to commit. In the end, every case is different and none should be handled in the same manner as those that came before it or those who will … (2 comments)

reverse mortgage florida: When Does a Reverse Mortgage Have to Be Repaid? - 08/30/13 01:27 AM
When Does a Reverse Mortgage Have to Be Repaid?
A reverse mortgage is a viable option for baby boomers looking to supplement their retirement income, and have enough tucked away for a rainy day or as part of a retirement planning option. If you are 62 years of age and older, live in your primary residence, and have enough in your home, you may qualify for a reverse mortgage.These requirements are changing, and soon, but, as of now, they are still in place.
It's crucial to know though, from the very beginning, what will trigger the repayment of your reverse mortgage. 
Typically, … (0 comments)

reverse mortgage florida: "It's Like Learning a New Language...You Learn The Bad Words First." - 08/29/13 12:05 AM
"It's Like Learning a New Language...You Learn The Bad Words First."
I was recently sitting down with a client who was considering a reverse mortgage. I was explaining to him the in's and out's of the program so he could determine if it was the best course of action for him during his retirement.
He had heard about the reverse mortgage program before--all bad things of course--from various news sources as well as friends and acquaintances.  Things he realized were myths by the end of our meeting.
To me, this was nothing new.
It's something I have to deal with, day … (2 comments)

reverse mortgage florida: R.E.S.P.E.C.T. Reverse Mortgages - 08/27/13 02:00 AM
R.E.S.P.E.C.T. Reverse Mortgages
The lack of respect for reverse mortgages continues even as many older Americans, who have used them, continue to rave about their benefits.
One couple in particular, Bob and Fran Ciaccia, have taken full advantage of the reverse mortgage they took out in 2005. Using the $120,000 HECM loan they obtained, on their $220,000 home equity, the Ciaccias bought a recreational vehicle (RV) to travel their home state of Pennsylvania and saved the rest in a line of credit for future expected (and unexpected) expenses. 
Older Americans aren't taking advantage of the reverse mortgages though. In fact, according … (2 comments)

reverse mortgage florida: Golden (Debt) Years - 08/26/13 12:29 AM
Golden Debt Years
The Golden Years might not be so "golden" anymore, especially because of debt. More and more often, older Americans are retiring to soaring medical care expenses, high credit card balances and the stress of second mortgages, making retiring to a "life of luxury and relaxation" a distant dream instead of a promising reality.
In an article published in The Miami Herald, "More seniors Head into the Golden Years with Debt," outlines the daily struggle of current retiring Americans. Specifically, the fact that the baby boomer generation will retire with more mortgage and credit care debt than any previous generation had … (2 comments)

reverse mortgage florida: Reverse Mortgages in Broward County, Florida - 08/22/13 02:50 AM
Reverse Mortgages in Broward County, Florida
Reverse mortgages, also known as Home Equity Conversion Mortgages (HECM), get a bad reputation for being the next subprime disaster waiting to happen. I beg to differ. The reverse mortgage is an available tool for homeowners, 62 years of age or older, which occupy the property as their primary residence.
What makes the reverse mortgage different from other mortgages? The borrower does not have to make monthly payments on the mortgage as the interest and service fees build up over time. Also, there is no income or credit requirement allowing those who own a home with equity, but have … (2 comments)

reverse mortgage florida: Retirement Planning is Like Evolution...? Say What? - 08/21/13 12:12 AM
Retirement Planning is Like Evolution...? Say What?
It's something I haven't thought about before but it makes sense. If evolution is all about adapting, and therefore, changing ourselves to better suit our current conditions, then it might as well be just like retirement planning, especially in the current financial climate.
Older Americans, especially, regardless of the plans they might have had in place before the recession, are now having to reconsider, reinvest and change their previous plans drastically. In a sense, they are evolving. Their plans are evolving. Their lifestyles are evolving. Just like learning, you should never stop evolving financially … (0 comments)

reverse mortgage florida: The 'Who,' 'Which' and 'What' of Reverse Mortgages... - 08/16/13 01:05 PM
The 'Who,'  'Which' and 'What' of Reverse Mortgages...
When it comes to reverse mortgages, the who and which are extremely important. They determine which reverse mortgage product and which lender best fit the client's needs and situation. The trick is to disclose everything, to the best of your ability, to your client.
It's the way I work.
I, not only, want them to be comfortable with me as the liaison to their lender, I also want them to trust that I have their best interest in mind. I go over every document with my clients because they should be aware … (0 comments)

reverse mortgage florida: President Obama Signs Reverse Mortgage Reform Bill into Law - 08/13/13 03:20 AM
President Obama Signs Reverse Mortgage Reform Bill into Law
This past friday, August 9, President Barack Obama signed the Reverse Mortgage Stabilization Act into law, according to an article published in Reverse Mortgage Daily. 
The bill grants the Department of Housing and Urban Development the authority to establish additional requirements to improve the financial stability and safety of the Home Equity Conversion Program.
The President's signature was the only component missing after the Senate approved the bill last week. The bill was approved in the House of Representatives back in June.
The additional requirements the HUD is seeking to include are:
A … (10 comments)

reverse mortgage florida: If You Work During Your Vacation...Is it Still a Vacation? - 08/12/13 12:29 AM
If You Work During Your Vacation...Is it Still a Vacation?
I guess depends on your definition of vacation.
The fact of the matter is, "vacation" doesn't mean what it used to, and the introduction of mobile devices, that are just as good as laptops (but twice as small), as well as Wifi have made it close to impossible to fully disconnect.
I understand though and I have been guilty of it. I don't want to disconnect completely and come back to an overflowing inbox or a voicemails in the triple digits, so I'm never completely away. 
Is this bad?
Well, according to … (81 comments)

reverse mortgage florida: Who Are You Calling a 'Senior'? - 08/05/13 02:00 AM
Who Are You Calling a 'Senior'?
Language and common words are ever-changing.
What used to be 'groovy', was then 'cool' and then 'fire.' It's hard to keep track but we have to. If we don't, we might lose out on valuable business.
According to a survey by SeniorMarketing.com, which polled 1,114 people regarding the term used to describe Americans aged 50 and older, only 49% of  the people polled felt comfortable using the term 'senior.' In fact, only 18% (the majority) thought it was more appropriate to say 'a man or woman age...' while 17% went with the term 'boomer.' Only … (2 comments)

reverse mortgage florida: Reverse Mortgage Success Story in Miami... - 07/29/13 12:34 AM
Reverse Mortgage Success Story in Miami...
Mimi Planas wanted her mother, Caridad Planas, to have a better quality of life during her retirement. 
Planas began the reverse mortgage process in December 2009 and PS Financial Services met with them on January 29, 2010. The company that Planas had been using before had not even done an appraisal yet while PS Financial Services was able to get an appraiser out to the Planas a day after their first meeting.
PS Financial Services, however, promised more net money in a much shorter closing time. We delivered on both by getting the Planas over $25,000 more … (0 comments)

reverse mortgage florida: Reverse Mortgage Success Story in North Miami... - 07/29/13 12:32 AM
Reverse Mortgage Success Story in North Miami...
Joe Manzanilla wanted to retire comfortably and spend days of leisure on his boat. However, his everyday, as well as long-term, expenses become more difficult to sustain on his current fixed income. He wanted a way to be able to, not only, balance out his income with his current living expenses but also improve his lifestyle considerably. 
His friend suggested he take out a reverse mortgage in order to have more disposable income during his retirement. Manzanilla, while initially skeptical began the reverse mortgage process with another local company, which offered Manzanilla a very low and conservative … (0 comments)