reverse mortgage news: Reverse Mortgages…."Why Should I Get One?" - 05/21/14 02:48 AM
Reverse Mortgages…."Why Should I Get One?"
One of the questions consumers ask me during our initial conversations is: "why should I get a reverse mortgage?"
I understand that they come from a place of misinformation where the reverse mortgage is a loan of last resort, only to be used if you want to pay off your mortgage (and have a little extra saved up) and should never be considered if you have a retirement plan in place.
Nothing could be further from the truth.
Not only has the Financial Industry Regulatory Authority stated that the reverse mortgage is no longer a loan … (2 comments)

reverse mortgage news: We Are Not All the Same. Stop Comparing Us. - 08/29/13 01:50 AM
We Are Not All the Same. Stop Comparing Us.
It's out there and it's pulling the wool over your eyes and making you think things that aren't true. It's out there and blinding you to the truth. It's out there and it's keeping you from enjoying our retirement fully.
What am I talking about? Misinformation.
Misinformation, the root of all scams, and keeps rearing it's ugly head in my business.
Not only is it hard to combat, but some information are just outright lies, which get recycled over and over, without stopping. 
Recently, I found an article from January titled: "The … (87 comments)

reverse mortgage news: A Blog By Any Other Name...Is Not Your Blog - 07/19/13 12:08 AM
A Blog By Any Other Name...Is Not Your Blog
Your blog is you, make it your own.
Blogs are still a relatively new thing. It's a new thing that's quickly catching on but still, it's new, compared to other forms of communication. Nonetheless, blogs provide an interesting outlet for establishing your personality on a page, and making yourself stand out in a sea of endless blogs.
How?
Be as detailed as you like. Unless you work for a newspaper or magazine, you can't be as detailed as you like when writing about your business. Notice those commercials or tv spots: they … (53 comments)

reverse mortgage news: A Potential Solution to Reverse Dollar Cost Averaging... - 07/16/13 06:02 AM
A Potential Solution to Reverse Dollar Cost Averaging...
...Is a "Standby" Reverse Mortgage
Investing in anything (stocks, bonds, real estate) has its peaks and valleys. One strategy used to save up for retirement during your accumulation, or working, years is dollar cost averaging.
Dollar cost averaging means you invest a set amount of money into the same investment portfolio for a set amount of time. For example, $100 every month for 3 years into Wal-Mart stock. This investment allows you the flexibility to buy MORE units when the market is DOWN (because stocks are worth less) and buy LESS of those same units when the market is UP (because … (0 comments)

reverse mortgage news: Value Limits for Reverse Mortgages May Drop... - 07/11/13 05:10 AM
Value Limits for Reverse Mortgages May Drop to
Previous Levels...
Last December, The Department of Housing and Urban Development extended the $625,500 maximum appraised value limit on Home Equity Conversion Mortgage (HECM), or the Reverse Mortgage, effective until December 31, 2013.
This represents an 150% increase over the statutory loan limit of 417,000.
Under this new extension, (which began in 2009 under the American Recovery and Reinvestment Act and has been extended for the past three years in hopes of continuing a steady economic growth) senior homeowners living in higher priced homes--above $417,000--receive significantly more money than before.
Good news for senior homeowners hoping … (0 comments)

reverse mortgage news: Looking for the Truth in All the Right (And Wrong) Places - 07/11/13 04:53 AM
Looking for the Truth in All the Right (And Wrong) Places
Despite the recent "housing boom," Florida continues to be ahead of the curve when it comes to foreclosures.
Does this necessarily signal a downturn in Florida's economy? Not really.
One reason that might account for the higher foreclosure rates can be that they take longer in Florida can anywhere else in the United States.
In an article published in The Miami Herald, which talked about Florida foreclosures, author Martha Brannigan states:
"One reason Florida’s foreclosure inventory is so high (the national average in May was 2.6 percent) is its foreclosure cases take so long. … (0 comments)

reverse mortgage news: The Negative Effect of the Media - 07/08/13 06:46 AM
The Negative Effect of the Media
Is the media helpful? It's a question we keeping asking ourselves because the immense benefits of a global, interconnected economy have been better than good, they're been great! 
But what happens when the media is against you?
Well, it will probably be the worse thing that can ever happen to you, especially when everyone jumps on the bandwagon. You know how they say "there's no such thing as bad publicity"?
Yeah right!
I've been fighting off bad publicity in my business for years. From news reports on ABC News that detail horror stories of … (0 comments)

 
Phil Stevenson, CRMP, "Mortgage Nerd" in Miami, Florida and Texas (PS Mortgage Lending 305-791-4874 or 888-845-6630) Rainmaker large

Phil Stevenson, CRMP

"Mortgage Nerd" in Miami, Florida and Texas

Miami, FL

More about me…

PS Mortgage Lending 305-791-4874 or 888-845-6630

Address: 14100 Palmetto Frontage Rd Ste 104, Miami Lakes, FL, 33016

Office: (888) 845-6630

Office: (305) 791-4874

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