Juanita looked after her sister for years. When Sis passed away, she left her home to Juanita who has rented an apartment all of her life. Fortunately, Juanita had been watching me talk about reverse mortgage for years on KRON4 in San Francisco. She gave me a call to see if she could use the equi
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03/13/2011
It’s happening more frequently. A son, daughter, nephew, conservator or guardian calls looking for solutions for keeping an elderly person in their home for as long as possible and preferably for their lifetime. The all have one goal in mind, to provide the best quality of life as possible for th
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03/13/2011
Inheritance is an interesting issue. It is important to preserve enough money and assets to fund your lifetime needs, but what is that amount? Innovative uses of reverse mortgage funds have brought this question to light recently. If you are considering gifting equity during your lifetime uti
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03/04/2011
If you live in the state of California we have some pretty terrific news for you. There is Down Payment Assistance available for purchasing a home. This program is called the CHF Platinum and it is NOT a loan, it's a grant. That means you don't have to pay it back if you qualify to receive it.
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02/14/2011
I received a call the other day and although it was pretty normal, I wanted to share it with you. The caller said, “We’re considering a reverse mortgage because we heard we could get monthly payments or a credit line”. I respond, “Yes, but let me ask you a few questions”. My first general qu
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01/02/2011
Changes expected for HECM reverse mortgages would negatively impact seniors. The Administration’s proposed Fiscal Year 2011 budget for HUD would increase the ongoing mortgage insurance premium on HECM's from 0.5 percent to 1.25 and reduce principal limit factors. If congress approves of the propo
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02/04/2010
When a bank takes a loss to make the reverse mortgage work it helps the senior homeowner and itself. You've heard of short sales, here's an example of a short refinance. A story with a happy ending! Learn more about me at Reverse Mortgage Store. This article was just published about our client. T
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01/26/2010
Spot Condo approval will be accepted until January 22nd. This is the final opportunity for condo owners to get a reverse mortgage! Visit me at Reverse Mortgage Store to learn more!
12/14/2009
Loan modifications for senior homeowners are possible if the existing mortgage lender is willing to lower the principal balance to meet the net lending limit of HECM Reverse Mortgages. The borrower cannot modify their existing mortgage to create Subordinate Financing behind the HECM Reverse Mortg
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11/30/2009
It's wonderful to know that my client, who was certain to lose her home, will now be able to live there for the rest of her life. After a great deal of time and effort, her lender, Home Eq generously dropped her principal loan balance to a level where we could put a reverse mortgage in place. My
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11/24/2009
