The HECM Reverse Mortgage Program changes are now in place effective October 1, 2013. Changes to the program are clearly geared toward keeping the financial risk to the government insurance fund in check. As expected, the equity principle limit eligibilit
Oct 29, 2013 | Reverse Mortgage Retirement Planning supplemental retirement income Retirement income insecurity HECM Reverse Mortgage
It’s not news that it is difficult to get a new mortgage. The good news is the government and the markets are just beginning to recognize that the crisis was historic and not everyone who got caught should be permanently labeled a dead beat.&nb
Oct 25, 2013 | Traditional Mortgage Short Sales forgiven mortgage debt Mortgage Loan Process
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 solutions for underwater properties HECM Reverse Mortgage Government insured mortgage FHA Construction Loan Hard Money Loan
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 | Reverse Mortgage Short Sales home equity access HECM Reverse Mortgage Loan modification modify your loan with your lender foreclosure
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 supplemental retirement income HECM Reverse Mortgage FHA HUD
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