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Reverse Mortgage Meaning: Common Terms Explained

May 31, 2017     no comments

Reverse Mortgage Meaning Video When it comes to exploring reverse mortgages and how they could be helpful to your situation you first should have an understanding of the terms that will be used throughout the process. These terms will help you fully understand how a reverse mortgage works. Here are a few terms that may be helpful in...
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Reverse Mortgages Now Available in the USVI | US Virgin Islands

May 19, 2017     2 comments

Are you over 62 and looking to eliminate a mortgage payment or purchase a new home in the U.S. Virgin Islands? If so, a reverse mortgage might be the perfect product. If you live in the U.S. Virgin Islands and are over 62 years old, you may be able to qualify for a reverse mortgage that will allow you access...
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The New Reverse Mortgage Era Is Here.

May 19, 2017     no comments

Are you looking to tap into your home equity as a way to boost monthly cash flow or save for a rainy day? The new reverse mortgage can help. Reverse mortgages have been around for decades to help retirees improve their financial situations as their incomes decline. Under the federally insured Home Equity Conversion Mortgage (HECM) program, these loans...
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The Reverse Mortgage Purchase Guide for Real Estate Professionals

May 13, 2017     no comments

Reverse Mortgage for Home Purchase A Guide for Real Estate Professionals By All Reverse Mortgage® At All Reverse Mortgage®, we're looking to partner with you in educating and helping mutual clients to purchase their retirement home. We have seen how knowledgeable real estate professionals have increased their market share and sales by simply identifying this buyer, you will find yourself with...
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Reverse Mortgage Solutions (RMS) Foreclosure Problems

April 1, 2017     6 comments

My brother passed away Sept 22,2016. Being his brother he made sole heir and ex. of the estate. Did not find out until Oct. 2016 that he had a reverse mortgage I contacted them about my brother death at which time they wanted to know what I wanted to do, I didn't know at the time. As we continue to...
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When Reverse Mortgage Counseling and Appraisal Expires

March 23, 2017     2 comments

Our HECM counseling has just expired and we had to retake a counseling. However, a month before the counseling expired, an appraisal of our house was ordered by our lender. Now, our reverse mortgage lender ordered another appraisal because he said that the month old appraisal cannot be used because we were just given a new case number as a...
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Reverse Mortgage Appraisal Tips: Laws & Requirements

February 14, 2017     no comments

Question from our reader: Can you influence the appraiser to give a higher appraised value? This is one that I would tell you absolutely NO!  It is against the law to try to influence an appraiser to raise a value. This is not to say that if you feel that an appraiser has given you a bad value that...
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Can I Opt for a Voluntary Life Expectancy Set-Aside? (LESA)

February 10, 2017     2 comments

Just learned of this feature, LESA. Am a current Reverse Mortgage holder and received a solicitation from a mortgage co. There is a lot to absorb regarding RM's and unless you are an educated real estate professional, it is virtually impossible to understand all the ramifications of these deals. Even with the "counseling" as required, total understanding remains murky. I...
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Reverse Mortgages and Solar Panels: What You Need to Know

January 29, 2017     20 comments

As our homes age, it is not uncommon to invest in renovation projects that enhance our ability to age in place, especially if those upgrades help lower monthly utility bills. Installing solar panels is one effective solution to reduce your overall electricity expense, but if you’re a homeowner considering a reverse mortgage to support your retirement, there are a few...
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Any Reverse Mortgage Programs for Condos NOT Approved?

January 24, 2017     8 comments

ALERT: HUD Announces Condo Changes Effective October 15, 2019! Do you consider non hud reverse mortgages? My condo association is not fha certified There are only a very few private or proprietary  programs available at this time. Prior to the mortgage market meltdown in 2009 - 2010, there were several but they were very slow to reemerge and there...
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