Reverse Mortgage Information
I have had the opportunity over the past 10 years to write some informative articles about reverse mortgages. The HUD/FHA program is constantly changing, with the addition of new products, and new guild lines. I don’t think I’ll ever run out of material on this fast growing, popular program. The demographics tell the story, and as the baby boomers continue to come of age, we will continue to have senior financing products available. Please choose from the list of informative articles below.
Reverse Mortgage – Turning Your Home into a Pot of Gold!
As the world awaits January 2008, when the first round of baby boomers
turn 62 years old, investors from Washington to Wall Street are
scurrying to add new, innovative products to the fast growing REVERSE
MORTGAGE MARKET!!
It wasn’t long ago that consumers had three reverse mortgage products to
choose from: the FHA HECM, the FANNIE MAE HOME KEEPER, and the JUMBO
CASH ACCOUNT. Now, seven new lenders have introduced competing programs,
with
more large investors positioning to move into this growing market.
Read More >>>
Over 62? Downsizing, Right-Sizing or Looking to Relocate? Check out the New Reverse Mortgage Purchase Program!
For the first time since it’s inception in 1989, seniors age 62 or older, can use their reverse mortgage to purchase a new property! This new program allows seniors to purchase a new principle residence and obtain a reverse mortgage within a single transaction – eliminating the need for a second closing and additional closing costs. The reverse mortgage purchase program also allows seniors to relocate to another city or state, bringing them closer to family or to a better climate. Read More >>>
Economic Stimulus Increases Loan Amounts for Reverse Mortgages!
The new economic stimulus package, signed in January 2009 contains several changes that equate to very exciting news for seniors seeking a Reverse Mortgage! One of these changes increases loan limits, from $417,000 up to $625,500!