The Reverse Mortgage Professional

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Mortgage and Lending - Orange County, Corona, Riverside, Los Angeles - NMLS#203003
All things Reverse

ARCHIVED BLOG POSTS

2010 

3 Comments
11/25/2010
On October 4, 2010, HUD launched the HECM Saver program. This new reverse mortgage program allows senior homeowners the option to reduce their closing costs by a significant amount as compared to the traditional HECM, now called the HECM Standard.  The HECM Saver’s Upfront Mortgage insurance pre...
11/20/2010
  Banning, California  10 Most Popular Reasons for Obtaining a Reverse Mortgage. (At least in my experience!) Eliminate Monthly Mortgage Payment Replace Investment Income Lost Due to Market Performance Supplement Inadequate Retirement Income - It is amazing how many senior  homeowners are trying ...
11/15/2010
. Today was too beautiful to work either around the house or around my reverse mortgage office. It's always fun to see what an unplanned day will bring. Today for me, it brough a grand old lady, The Heritage House on Magnolia Avenue in Riverside. First we dropped off my teenage daughter to go hor...
11/14/2010
    Can I buy a house with a reverse mortgage?     There are two ways to buy property with a reverse mortgage.  Here are examples of each. Mr. and Mrs. Z own their home in Southern California.  They have lived there for 50 years and wouldn’t dream of moving away.  They dream of a vacation home in...
11/13/2010
  Corona Reverse Mortgage Question –“Is it okay to take a younger spouse off of title in order to qualify for a reverse mortgage?”  S.L. “My Wife is Too Young for a Reverse Mortgage – Can I take her off of title in order to qualify?”  G.J. This question equally applies to a younger husband!  Firs...
11/13/2010
  What is the minimum age for a reverse mortgage? 62 is the answer.  In fact, all persons on title must be 62 years of age or older.  Sometimes this leads to the question, “What if I’m 62 and my spouse is younger, can I just get the reverse in my name?”  Technically it can be done but carries a l...
11/11/2010
With the help of the Lakeside Community Association Board of Directors and the property managers at PCM and my team here at work, I was able to assist in securing FHA approval for your Condos.  We are still working on Lakeside II and Fairway Villas. The FHA status improves not only your mortgage ...
11/04/2010
  Corona Reverse Mortgage Question - What happens to the reverse mortgage when I die?  Does the bank get the house? A reverse mortgage is just that, a mortgage.  When the last borrower passes away, the loan becomes due and payable 6 months from the date of death of the last borrower.  The home it...
11/04/2010
Reverse Mortgage Question from Riverside, CA  - What happens to the reverse mortgage when I die?Will the bank just take over the house? A lot of people are under the assumption that when the last homeowner dies, the house just reverts to the bank.  That is absolutely wrong! A reverse mortgage is...
11/04/2010
Rainmaker
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Deborah Nance

Southern California , Reverse Mortgage Specialist
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