Mortgage Blog

Private Label Reverse Mortgages vs. Government Insured Reverse Mortgage

Private label Reverse Mortgages have been slowly creeping across the country over the past two years.  There are some very key distinctions between the private label and the government insured HECM that are important to keep in mind. The government insured HECM Reverse Mortgage program has a growth factor that allows a homeowner’s available credit, based on the untapped portion of allowable equity, to grow and compound thereby providing retirees and seniors with increased levels of home equity access each year as they age.  The private label programs do not have a growth f...

November 18th, 2015 | Seniors, Retirement Planning, HECM Reverse Mortgage, Reverse Mortgage, private label reverse mortgage, growth factor, Private Label Reverse Mortgages vs. Government Insured Reverse Mortgage

Reverse mortgages: Useful retiree tool or bad move?

Great article.  I agree that a Reverse Mortgage is best used when it can augment an existing retirement plan.  However, in many cases where that may not be an option, there is still room for ample benefit.  I would also like to add some clarity on the growth of credit for retirees and seniors so it is more easily understood.  When a homeowner is in a position to utilize a reverse mortgage where they have a substantial amount of available home equity (“principal limit”) over and above any mandatory payoff items like existing mortgages, the credit line growth fact...

November 17th, 2015 | Financial Planning, Retirement Planning, Reverse Mortgage, Home Care, Government insured mortgage, Reverse mortgages: Useful retiree tool or bad move?

October Beacon Article Mention - Hear what our clients have to say.

Check out the October issue of the Beacon and hear what some of our clients have to say. http://issuu.com/thebeaconnewspapers/docs/oct15dcbeacon/43?e=1984404/30449816 Would love to hear from you if you or a loved one are in a similar situation.     George H. Omilan President-CEO - NMLS# 873983 Jefferson Mortgage Group LLC Helping seniors with Reverse Mortgages in Virginia, Maryland and Pennsylvania. Questions/Comments encouraged.

October 20th, 2015 | Retirement Planning, HECM Reverse Mortgage, Financial Planning, Reverse Mortgage, Long Term Care, October Beacon Article Mention - Hear what our clients have to say.

The Mortgage Conundrum

Based on Dodd Frank regulations, access to mortgages for people of all ages is constrained by the ATR Rule.  This rule requires that a borrower must demonstrate the ability to repay the mortgage.  We no longer have the easy to qualify mortgage types readily available and this has created the Conundrum. Many people are unable to get new loans and many more who have existing loans are unable to refinance to take advantage of the lower rates.  This has strapped people into high cost and unscrupulous loans from the past and has hit retirees and seniors especially hard.  With...

October 14th, 2015 | Reverse Mortgage, HECM Reverse Mortgage, Financial Planning, Loan modification, Mortgage Loan Process, The Mortgage Conundrum

Reverse Mortgages Can Be A Retiree's Saving Grace - Forbes article

Nice article in Forbes providing specific applications for Reverse Mortgages.  HECM Reverse Mortgages are clearly an area that the public and the advisor community will need to pay more attention to if we are to collectively achieve retirement goals in the current climate.  I like the #4 suggested Reverse Mortgage application the best, given it is the most practical, most common scenario, and most effective means of establishing financial balance for my clients.  “#4 Reduce Retirement Expenses and Cash Outflow. “  Retirees and seniors need to focus on cash flow ...

October 8th, 2015 | supplemental retirement income, Retirement Planning, HECM Reverse Mortgage, Reverse Mortgage, Financial Planning, Retirement income insecurity, Reverse Mortgages Can Be A Retiree's Saving Grace - Forbes article

Do you want to be a Happier Sandwich? How Pertinent Planning can help the Sandwich Generation.

The Sandwich Generation is defined as parents who have to take care of their kids and their aging parent(s) at the same time.  According to the Pew Research Center, just over 1 of every 8 Americans aged 40 to 60 is both raising a child and caring for a parent, in addition to between 7 to 10 million adults caring for their aging parents from a long distance. The key element that will enable the Sandwich Generation to manage the responsibilities really comes down to involvement and planning.  As a parent, my two kids are lovely but relentlessly demanding at every stage it seems.&nbs...

September 12th, 2015 | Home Care, Retirement Planning, HECM Reverse Mortgage, Reverse Mortgage, Sandwich Generation, Financial Planning, Do you want to be a Happier Sandwich? How Pertinent Planning can help the Sandwich Generation.

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Jefferson Mortgage Group LLC

2536 Leeds Rd.
Oakton, Virginia 22124
703-319-2198
FAX: 703-773-6946
info@jeffersonmortgage.com
NMLS: 935554

Located in Fairfax County, Virginia. Serving all of Virginia, Maryland, DC & Pennsylvania. 

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Jefferson Mortgage Group LLC is licensed in Virginia, Maryland, DC & Pennslvania.
Virginia State Corporation Commission License Number MC-5659 and the Pennsylvania Department of Banking & Securities #46259 
The DC Department of Insurance, Securities, and Banking License #MLB935554
Maryland DLLR License #21586

An Equal Housing Lender

By refinancing the consumer's existing loan, the consumer's total finance charges may be higher over the life of the loan.

This material is not from HUD or FHA and has not been approved by HUD or any government agency.