Reverse Your Mortgage

FHa Modernization Bill Update

FHA Modernization, Including HECM Amendments, in Foreclosure Help Bill Passed by the House

HUD Permits Borrower-Paid Counseling

Rebuilding Together

As a reverse mortgage advisor I am often brought in to consult with homeowners who are in need of income for basics such as daily living expenses, fuel and medical care. When working with homeowners who are in this position, it is not unusual that their homes have deferred maintenance. Anyone who works with the low-income, senior or disabled community should have Rebuilding Together in their data base.

ALTERNATIVES TO REVERSE MORTGAGES- NO PAYMENTS-EQUITY SHARE

There is a new breed of products designed to tap your homes equity. One can also be use on second homes and commercial properties.

FHA MODERNIZATION BILL UPDATE

April 10, 2008
Senator Claire McCaskill (D-MO) was successful at getting her reverse mortgage bill (S. 2490) added to S. 3221. The Reverse Mortgage Protection Proceeds Act would prohibit lenders from requiring the purchase of an annuity with the proceeds of a reverse mortgage and require HUD to pay for mandatory HECM counseling out of the mortgage insurance fund. It also would create requirements for financial service companies that offer reverse mortgages and other products to have “firewalls and safeguards” between their various lines of business.

How is the Reverse Mortgage Business? Is it the Right Time?

With the changes in the economy and housing value dips, the Reverse Mortgage business is becoming more and more useful to seniors and supporting the quality of their lives. Seniors are often on fixed incomes and are faced with higher rates of inflation than the average consumer because of the higher allotment of their income to medical costs, not to mention inflation and rising fuel costs.

REVERSE MORTGAGE PRODUCT HIGHLIGHT

Featured Product: Gold Reverse Fixed.

Gold Reverse, Inc. (formerly PCM) announced the formal launch of our proprietary reverse mortgage - Gold Reverse. This revolutionary reverse mortgage allows for borrowers down to age 60, has a low FIXED RATE, no monthly servicing fee, and loan amounts to $2 million! In addition, Gold Reverse can also be used for home and condo purchases! Minimum draw at funding is 100% of available proceeds. Third party counseling required, closing costs financed into the loan. Borrower can never owe more than the value of the property. If you'd like to know more about this loan or if a reverse mortgage is the right loan for you, call Angella at 866-949-7030; www.reverse-your-mortgage.com

FHA Modernization Bill Update/ Economic Stimulus Act Excludes Reverse Mortgages

The Office of Federal Housing Enterprise Oversight (OFHEO) announced a temporary increase in the GSE (Fannie Mae/Freddie Mac) conforming loan limit as a result of the Economic Stimulus Act of 2008. We want to alert members that this increase does not apply to the Fannie Mae HomeKeeper reverse mortgage product. The HomeKeeper loan limit will remain at $417,000.

Discover Ways Boomer Children

The Best Health Care System in America

"Planning for Eldercare" March 5 , 2008
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The Best Health Care System in America

It comes as a surprise to some people who had experience with VA health care during the 1970s and 1980s that this same system is now considered the best medical care in the United States. To illustrate this we quote below articles and comments from the several sources.