President Obama used his Executive power to recess-appoint Richard Cordray to head the Consumer Financial Protection Bureau, two long years after the CFPB was initially established as part of the Dodd-Frank Financial Reform Bill. The CFPB is charged with enforcing a variety of financial consumer protection laws. However, the bureau cannot fully enforce its authority […]

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Getting a Reverse Mortgage Requires Substantial Equity On a daily basis we get inquiries from folks that want and need to get a reverse mortgage. However, many people do not know what the first…and most important ingredient is in qualifying for a reverse mortgage loan. That “secret sauce” ingredient is…HOME EQUITY! Many people are confused […]

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Reverse Mortgage for Home Purchase is not a new concept.  However, HECM for Purchase as they are called, are finally beginning to show up on the radar screens for more financial industry experts, media publishers, builders, realtors and the public in general. The Washington Post recently said this about Reverse Mortgage for Home Purchase Reverse […]

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AARP is warning seniors about foreclosure scams targeting older homeowners that are behind on mortgage payments and facing foreclosure. DON’T BE ONE OF THEM! According to the AARP bulletin, during the first six months of this year, more than 40 percent of the reported victims of this type of scam were 51 or older. This […]

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National Reverse Mortgage Lenders Association president, Peter Bell, discusses various reasons why people use reverse mortgage loans. He describes situations where people wish to defer taking Social Security benefits until they are older, but need supplemental income in the interim. Bell touches on another reason reverse mortgage loans are being utilized more recently. That reason […]

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How Can I Get a Reverse Mortgage – is a question we get on a daily basis. The inquiries come from folks that want and need this type of financial help. However, many people do not know what the first…and most important ingredient is in order to qualify for a reverse mortgage. That “Secret Sauce” […]

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Lower Reverse Mortgage Fees are available if borrowers choose the HECM Saver option over the HECM Standard reverse mortgage. In the past, financial planners and investment advisers have been reluctant to suggest a reverse mortgage loan to their clients due to the high costs associated with this type of home equity loan. However, since the […]

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HECM Reverse Mortgage Loan Limits returning to pre-economic crisis levels, has been a worry for the reverse mortgage industry and senior citizens that own homes in high value areas, like New York, California, Massachusetts, and others. Everyone wondered if HUD was going to revert back to the “old days” when each county had a different […]

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