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Mortgage Blog

A Reverse Mortgage is Not a Construction or Property Rehab Loan

There appears to be a misconception in the market among some that a Reverse Mortgage can be used to solve any and all property and borrower ailments. This is categorically incorrect. A Reverse Mortgage is designed for a primary residence only and do

Sep 25, 2013 | Reverse Mortgage HECM Reverse Mortgage solutions for underwater properties FHA Construction Loan Hard Money Loan Government insured mortgage

An Innovative Means of Curing Mortgage Delinquency

For the past several years, all the talk has been about avoiding foreclosure with loan modifications and short sales for underwater properties with distressed financial situations. One area that has been over looked or maybe just absent from the headlines

Sep 10, 2013 | Loan modification HECM Reverse Mortgage Short Sales Reverse Mortgage modify your loan with your lender home equity access foreclosure

Important Changes on the Horizon for Reverse Mortgages

FHA and The Department of HUD have been authorized by congress to improve the HECM Reverse Mortgage Program. The legislation passed by both the House and the Senate authorizes HUD to improve the program, based on past assessments, so that it better s

Sep 02, 2013 | Reverse Mortgage HECM Reverse Mortgage supplemental retirement income FHA HUD

Modification - Forbearance follow up

In a July post, I briefly explained forbearance as it relates to the Loan Modification process.  I suggested caution and thorough consideration when your lender makes this a requirement of your requested Loan Modification. I also noted that even if y

Aug 15, 2013 | Short Sales solutions for underwater properties Loan modification

Regulation and Disclosure-Does it really protect our seniors with a Reverse Mortgage?

The mortgage market place has been heavily re-regulated since 2008 and for years we have relied on volumes of disclosures to guide and protect our borrowers.  Do you think for a moment that regulation prevents money motivated unscrupulous acts? 

Aug 01, 2013 | Retirement Planning Reverse Mortgage lifetime income with a Reverse Government insured mortgage supplemental retirement income

Loan Modification - Understanding Forbearance

 The Loan Modification process can be tricky.  I personally do not endorse modifications because I do not believe that they are fair or equitable for the borrowers. Having said that, the process is fraught with risk and you need to understand wh

Jul 16, 2013 | Short Sales Loan modification

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