IMPORTANT: Lump Sum Fixed Rates ending soon!

February 5, 2013

  For those of you who have been thinking about a reverse mortgage for extra money, NOW is the time to do it !  The FHA has extended the time limit for the Lump Sum distribution Fixed Rate reverse mortgage, until Feb. 28, 2013.  This means an extra 25% – 30% more money to you, if [...]

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NEWS FLASH!!!

January 3, 2013

  Effective January 31, 2013, the Fixed Rate Lump Sum reverse mortgage will cease to exist, according to HUD.  In an effort to balance the budget (like that will ever happen), HUD has decided to cancel the Fixed Rate Lump Sum payout Option.  In doing so, after Jan. 31st, you will now get about 25% [...]

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NCOA Offers Free HECM Counseling for Seniors

February 24, 2011

The National Council on Aging (NCOA), one of the five national counseling intermediaries for seniors interested in a reverse mortgage, has begun offering free reverse mortgage counseling for home owning American senior citizens via its RMCS (Reverse Mortgage Counseling Services) network. The Department of Housing & Urban Development (HUD) has funded NCOA with $2.53 million [...]

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Which Reverse Mortgage is Right for You?

February 24, 2011

Retirement can be much more enjoyable with some extra spending cash. Luckily, homeowners over 62 years of age can turn their home equity into cash with a reverse mortgage. A reverse mortgage can be an excellent supplement to social security and withdrawals from savings. There are three types of reverse mortgages: HECM Traditional, HECM Saver [...]

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Interest Rates Are On The Move!

February 21, 2011

If you are thinking of a reverse mortgage, now is the time to proceed.  With interest rates rising, you will receive more money now with a 5.300% rate than with the 5.560% rate, which is expected to replace the 5.300% rate in the next few days or weeks. This higher interest rate may cost you [...]

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