Temecula Reverse Mortgage Conversations

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Mortgage and Lending - Purchase or Refinance With A Reverse Mortgage
RECENT BLOG POSTS
Do I advise senior homeowners to get a fixed rate reverse mortgage or an adjustable?In my many contacts with senior homeowner the initial reaction of most of them is that the fixed rate reverse mortgage is the one they prefer.  However, the fixed reverse may not actually be the best option for t...
03/08/2011
Can I make payments on a reverse mortgage? Absolutely! There are no prepayment penalties on HECM Reverse mortgages and though reverse mortgages do not require the borrower to make mortgage payments there are some excellent reasons for doing so! Preserving equity - by making payments you are keep...
02/28/2011
Temecula Reverse Mortgage Question - How long does a reverse mortgage last? There is a due date on HECM reverse mortgages and it is always set at 150 years from the date of birth of the youngest borrower.  However in real world use, we find that the reverse mortgage becomes “Due and Payable” upo...
02/14/2011
  How does a reverse mortgage work? If you are a homeowner at least 62 years of age or older and have sufficient equity in your principal residence, you are eligible to participate in FHA's reverse mortgage program. The program allows you to borrow against your home’s equity.  You can choose to r...
02/02/2011
Hemet Reverse Mortgage Question - Do We Qualify for a Reverse Mortgage?If you are a homeowner and all owners are over the age of 62, you just might.  Some things to know in order to determine whether or not you will qualify.  First - do you have enough equity?  The amount of money you can borrow...
01/26/2011
Using a reverse mortgage to buy a home is still a relatively new thing for Realtors and Buyers and there are some important things you can do upfront to help make things go smoother and easier. Contact your buyers' reverse mortgage consultant to discuss how to write up the offer.  Here are some t...
01/20/2011
My mom recently passed away and she had a reverse mortgage on her home - what happens now? When a reverse mortgage borrower passes away I often get calls from the children asking lots of questions.  One thing to know is that the home does not belong to the bank - title to the home becomes a part ...
01/14/2011
    Reverse Mortgage Questions - FHA Reverse Mortgages (aka HECM’s) really are a safe, secure loan. I frequently find my clients have a few misconceptions. I’d like to take this opportunity to answer some of the most common questions and myths and I hope you will comment on my posting!         H...
01/07/2011
If you are considering a Home Equity Loan  for whatever reason and you are over the age of 62, you may want to compare itt to the new FHA HECM Saver.  A recent addition to the reverse mortgage lineup, the HECM  Saver was developed for homeowners who are looking to access less of their homes valu...
12/27/2010
One of the events that would cause your reverse mortgage to become due and payable is the death of the last surviving borrower.  What happens then? For an FHA Reverse Mortgage your estate (or heirs) will have 6 months from the date of your death to repay the loan.  They may be eligible for up to...
12/18/2010
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Deborah B.Nance

Reverse MortgageExpert~Temecula Murrieta Menifee Hemet
smartphone(951) 283-2983
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