I originally tried to refinance my mortgage, but it was taking so long I was ready to give up when I heard about the reverse mortgage program.I attended a seminar and then called my financial advisor for his opinion of the program. He suggested that I talk to Angella and it was advice well taken. Angella…Details
Community Aging Services and Long Term Care There are many private, religious and government organizations across the country that provide supportive services for older people. Many of these services center around helping people stay in their homes and avoid having to go to live in an institution or perhaps move in with family. Because of…Details
At 83 years old, Martha still lived in her own home, and enjoyed working in her garden and canning peaches. It was becoming harder to motivate herself, to get up in the mornings and accomplish the day's tasks. She confided to her daughter that she felt anxious and tired. Her daughter, who was taking medication…Details
Advantages and Disadvantages of Prepaid Plans One way to plan in advance for the end of one's life is to sign a formal contract called a "preneed funeral plan." With this plan, money to pay for a funeral and/or burial is held in a trust, in an escrow account or paid through an insurance policy…Details
Check out the new national aging in place website.
Check out the story of one of my clients. What a kick!
For the first time in the history of the FHA Reverse Mortgage program, it is running at just under an $800 million dollar deficit.
FHA insures reverse mortgages against lender losses and borrower owing more than their home values when their reverse mortgage loans become due.* until recently the FHA reverse mortgage program has never run a deficit. But with falling real estate values, FHA has been paying more on claims.
Reverse mortgages are often perceived as expensive. You’ll hear this feedback from consumers and financial professionals alike. What makes a reverse mortgage expensive is that it is still an emerging industry. HECM or home equity conversion mortgages are FHA insured and still require mortgage insurance.Details
HUD is considering developing a smaller reverse mortgage. Lower proceeds ad COSTS! Better for folks who needs smaller amounts. read more: http://ping.fm/nc7TD