Author Archive
Reverse mortgage lending limit makes new Stimulus Bill
In section 1204 of the Senate’s (page 30-31 of Conference Report on H.R. 1, American Recovery and Reinvestment Act of 2009) the Reverse Mortgage made the cut. From the White House website link you can find this information. SEC. 1204. FHA REVERSE MORTGAGE LOAN LIMITS FOR 2009. For mortgages for which …
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 …
Rates are so low, they can’t go lower.
The rates for the 10-year Treasury (CMT based) HECM reverse mortgage are so low they can’t go any lower to affect the amount of money one can get from a reverse mortgage. The amount of equity someone can access from their home is based on age, home value, any mortgage they currently have and the [...]