reverse mortgage florida: What is the Home Equity Conversion Mortgage or HECM? - 12/18/10 07:05 AM
What is the Reverse Mortgage?  How does it work?  And what are its benefits?
First of all I will tell you what the Reverse Mortgage does NOT do:
-The Lender will NOT own the property
-The Government will NOT own the property
-You are NOT selling the property
-You are NOT coming off title
-You heirs do NOT lose rights to the property
-It is NOT income so the money is tax free
 
Here is what the Reverse Mortgage DOES:
-YOU stay on title and have full rights to sell or pay off the Mortgage with no penalty
-It … (0 comments)

reverse mortgage florida: Reverse Mortgage Counseling, why do I need it? - 12/18/10 07:02 AM
What is the point of Reverse Mortgage Counseling?
Some clients of mine complain that they have to sit through the counseling even though they fully understand the program.  I believe this counseling is highly beneficial.  It takes away the possibility that a Fraudulent Mortgage Broker will take advantage of a senior borrower.  Below are some details about the current changes to the counseling process.
 
The Reverse Mortgage Counseling has become more in depth and complex, but this is better for the borrower.  In the past, the Reverse Mortgage’s mandatory FHA Counseling was nothing more than the person spending 30 to … (0 comments)

reverse mortgage florida: The Holi-daze! How am I supposed to greet people and not offend anyone? - 12/18/10 02:01 AM
What am I supposed to say?  How am I supposed to properly greet people?  The Holidays are more like Holi-daze!
I often find myself confused, in a daze, in December because you’re not sure what to say or who to say it to when you are wishing someone a good Holiday.
The PC or Politically Correct phrase is "Happy Holidays," but this year Hanukkah was the first week in December with Christmas and New Years at the end. So do I wish someone who celebrates Hanukkah Happy Holidays in late December? And when is Kwanza? I'm not sure if I know … (7 comments)