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In your current area 100 homeowners are currently utilizing reverse mortgages to better enhance their retirement years, with 500,000 nationwide!

The amount you receive is based on your home’s value, your age, and current interest rates. Let’s start with your address so I can estimate your home value…
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If you feel this estimate is not correct you can manually change it below. If you have an existing mortgage balance, I'll need to know the amount we are going to pay off to get rid of that mortgage payment!

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If you presently have an existing mortgage balance, I'll need to know the amount we are going to pay off to get rid of that mortgage payment!
(Our calculations use estimated property values provided by Estated.com. An independent HUD-approved appraiser must complete an appraisal to finalize your loan)
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The minimum qualifying age for a reverse mortgage is 55

Don’t forget to include your spouse’s age, even if they are not yet 55, as loan proceeds are always based on the age of the youngest spouse.
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Posts Tagged '2013'

Last Call for Fixed-Rate HECM Standard Reverse Mortgages

    1 comment
The time frame is running out for the Standard Fixed Rate version of the reverse mortgage program known as the Home Equity Conversion Mortgage (HECM or “Heck-um”). HUD announced that the last day that they will issue Case Numbers for this program is prior to April 1st, however borrowers must be aware that the 2 days leading up to April...
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OFFICIAL: Fixed-Rate Standard Reverse Mortgage Elimination Date

    2 comments
April 1st Deadline Approaching: Apply Online Now After much anticipation, HUD has finally announced their exact time frames for the elimination of the Fixed Rate Standard Home Equity Conversion Mortgage (HECM or “Heck-um”).  For all new FHA Case numbers issued on or after April 1, 2013, any borrower who still wants a fixed rate loan will be limited to only...
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2013 Update: Reverse Mortgage Purchase in Texas Still Coming…

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Update: 11/08/2013 Prop 5 Passes in Texas, But Implementation May Take Longer Proposition 5 passed by a wide margin this week, paving the way for HECM for Purchase to be offered in Texas. To pass, Prop 5 needed approval by 51 percent (50% plus 1) of voters, but the final tally was 62 percent. During the NRMLA Business Meeting, NRMLA...
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2013 Reverse Mortgage Loan Limits – $625,500 Extended

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OFFICIAL: FHA Announces Fixed Rate Standard Reverse Mortgage Elimination Date.. On December 6, 2012, HUD issued Mortgagee Letter 12-26 which among other things, announced the extension of the $625,500 maximum limit on the Home Equity Conversion Mortgage (HECM or "Heck-um") program. The lending limit shall remain at 625,500 through December 31, 2013. Excerpts from that Mortgagee Letter appear below: This...
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2013 to Bring Sweeping Reverse Mortgage Changes

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OFFICIAL: FHA Announces Fixed Rate Standard Reverse Mortgage Elimination Date.. We have been hearing for a little while now that the Home Equity Conversion Mortgage (HECM aka "Reverse Mortgages") was going to have to undergo some changes as a result in the shortfall in the FHA's budget. The FHA shortfall turned out to be over $16 Billion and the HECM...
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2013 Reverse Mortgage Changes Underway

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OFFICIAL: FHA Announces Fixed Rate Standard Reverse Mortgage Elimination Date.. You may have seen recent headlines about the Federal Housing Administration being in the “red,” as a result of the housing crisis. A recent audit of the FHA’s financial position found its net worth adds up to a negative figure, and thus will result in changes to the agency’s various...
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