Jenna Yancey's Blog

Fresno, CA: Why I fell in love with Reverse Mortgage     So I decided today that I would tell you a story instead of just giving you more facts about Reverse Mortgage. So I will tell you a little bit about why I do what I do.   My very first borrower was a man who had worked hard his whole life. ...

  Can I qualify for a Reverse Mortgage if I have an existing mortgage?     I was asked this question the other day by one of my borrowers in Fresno. The short answer is yes! Of course it is important to note however that you must qualify for more than the amount of your outstanding mortgage so th...

Reverse Mortgage Question from Fresno, CA A question I was asked recently: "Jenna, how does the line of credit grow?" Let's use an example that perhaps you own your home and have a small mortgage debt that you are looking to retire. You have been considering  a Reverse Mortgage for this purpose b...

Important Changes to the Reverse Mortgage Program for Fresno, CA   If a Reverse Mortgage is something that you have been considering then it is important for you to educate yourself on the changes that are being made to the program. On September 3rd HUD issued a mortgagee letter outlining what th...

Important Reverse Mortgage News for Fresno California:   It is important to note that HUD has proposed changes to the Reverse Mortgage program which may be effective as soon as October 1st. It is likely that these changes will result in a decrease in the amount of funds available to borrowers. Th...

          Reverse Mortgage Basics For Fresno, CA: What do I not know that I should?   Question: Who can qualify for a Reverse Mortgage? Answer: The youngest borrower must be 62 years of age or older The home must be the borrowers primary residence The borrower must pay off any existing mortgage ...

  Using a Reverse Mortgage to Purchase a home   Using a Reverse Mortgage to purchase a home is known as the HECM for purchase program. This is a program available to Seniors who are 62 years of age or older and are looking to purchase a home but don't want, or can't afford, a monthly mortgage pay...