Over the past several years HUD has made great strides to strengthen the structure of the HECM loan to enable stability toward longevity. Although the changes made the product more stable,each modification created concern with the validity and benefit of the product. Listed below are actual questions or scenarios presented [...]
For homeowners looking to the federal government’s reverse-mortgage program to supply lots of cash for their retirement years,here’s a heads-up:The pipeline just got narrower
Pressed by Congress to slash losses,the Federal Housing Administration (FHA) last week outlined steps designed to limit the maximum amounts that seniors can draw [...]
“This sounds too good to be true” is the most common statement from investigating seniors while learning accurate details about the H.E.C.M. or Reverse Mortgage. While the literal thinking of getting a loan and never making a payment seems to be so,the H.E.C.M. is definitely good and also true for [...]
In just about every senior publication published these days there seems to be advertising referencing home loans with “No payments for life”. This just seems to be too good to be true. Can someone really get a loan on a home and never pay a house payment for the rest of [...]
It seems change is in the air. As our economy changes for the better,we see more opportunity for buying and even selling homes in the Southern Utah area. This is a strange and uncommon phenomenon but welcome to many. Home inventory is dropping quickly so builder production of new homes [...]
The skies grew dark and a chill set in as people awaited the dreaded changes for the H.E.C.M. to be announced. Many had speculated the severity of what was to come while others held tight to see if there was a sunrise in the future for this long running government regulated [...]
The very popular H.E.C.M. (Reverse Mortgage) has upcoming changes which may have opportunities hidden by all the worries of the removal of the most popular product currently available. The fixed rate H.E.C.M will no longer be available beginning April 2013.
Although the fixed rate option has been the overall favorite of [...]
Absolutely! The opportunity for a senior,62 years or older,to buy a home using a HECM mortgage will be available for the unforeseen future. Until we see evidence from The Housing and Urban Development (Federal agency which regulates HECM loans) indicating anything different,We will proceed to take applications and [...]
There is so much information regarding the HECM or Reverse Mortgage being presented in today’s media. Robert Wagner,Henry Winkler and other celebrities can be seen on the television screen promoting this somewhat mysterious loan. Newspaper ads and radio spots all targeting the senior home owner.
But,is it a real [...]
During our current economic times the housing market seems to be at the forefront of everyone’s attention. Will rates stay low? How low will they go? The one constant during this mess has been the HECM (Home Equity Conversion Mortgage),better known as the Reverse Mortgage. This is only available to [...]