My Letter to my local Assembly woman re: AB329, Reverse Mortgage Elder Protection Act of 2009

Monday, March 09, 2009   Dear Assemblywoman Harkey,   I respect the proposal of AB 329 and the spirit of its creation. My name is Angella Conrard. As a reverse mortgage originator of 4 years with a background in healthcare I can speak from experience. I am also the president of the National Aging in…

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Nursing Homes for Veterans

Nursing home coverage for veterans is available from two sources within the Department of Veterans Affairs — the veterans health care system and the state veterans homes system. Nursing Home Coverage through the VA Health Care SystemNursing home coverage along with other long term care services such as home care and assisted living as well…

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New Mexico Couple Describes their Reverse Mortgage Experience and Working with Angella

To whom it may concern: We have just completed our Reverse Mortgage transaction and are very pleased to report the wonderful working relationship that we had with Angella Conrard who assisted us as our reverse mortgage advisor. Angella was extremely professional, knowledgeable and always available returning our phone messages quickly. Her expertise in passing information…

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Reverse Mortgages – They said I can never owe more than my home value, HUD clarifies what is true when your reverse mortgage comes due.

For years, reverse mortgage originators have been telling borrowers that reverse mortgages are “non-recourse”. They could never owe more than their house is worth at the time the loan is paid back. The Merriam-Webster Dictionary defines non-recourse as being or based on an agreement in which the lender has no right of recourse to the borrower’s assets beyond stated limits.

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What happens to the Reverse Mortgage when I pass away? – how much time do my heirs have?

I am often asked, “how long do my heirs have before they have to pay off the reverse mortgage?” A reverse mortgage becomes due when a “maturity event” occurs. In most cases this is either when the home is sold or the last borrower passes away. Each lender’s requirments are different. Here is what one lender had to say about repayment:

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