Archive for May, 2009
A Change: State Employees Credit Union’s Reverse Mortgage
There has been a close of 50 Reverse Mortgage Loans (over $5 million) in the Credit Union since August 2008. This is all due to the impact of the SECU’s reverse mortgage, which has turned out to be the needed solution for some of the SECU members. As to qualify for a mortgage loan, a [...]
Fixed Interest Rates a Must: Reverse Mortgages
Stimulus Package Drives Demand For Reverse Mortgages “I am happy on seeing the inclusion of reverse mortgages in the stimulus package.” says Susan Cosgrove. He further comments on saying the reverse mortgage have a major setback, which is the fact that there is no fixed interest rate. The rates being on a historic low, this [...]
A Reverse Mortgage: What Questions to Ask
Which is the right place to get information about reverse mortgages for seniors? Moreover, would a reverse mortgage work for us? “The information provided by you is not enough to give a complete solution. But, I have directed your question to Cyndi Stephenson who manages HomeFirst Mortgage Corp, a mortgage brokerage firm in Alexandria” says [...]