Archive for February, 2009
Reverse Mortgage Local Focus: San Diego, California
San Diego Reverse Mortgage The principle behind reverse mortgage is practically the same all over the world. There are however, slight variations in miscellaneous details per country, per state and even per county. A good example of variation would be the interest rates as mandated by law per country. There may also be additional charges [...]
New reverse mortgage lending limit increased to $625,500
The mortgagee letter 2009-07 was released today setting the new nationwide lending limit for reverse mortgages (HECM) to 5,500. This was changed as a result of the American Recovery and Reinvestment Act of 2009 (ARRA) that was signed into law February 17th of this year. For a time period between …
75% of boomers fear full retirement.
If a study by Scottrade is correct and up to 75% percent of boomers are fearing full retirement, what does it say about those already retired? These are the folks without ready means to increase their income, the same folks taking from a retirement portfolio that continues to be …