Michael Pinter's Reverse Mortgage Blog

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Mortgage and Lending - First Meridian Mortgage
Everything you ever wanted to know about Reverse Mortgages.

ARCHIVED BLOG POSTS

2010 

Consumer Credit Counseling Services (CCCS) of Greater Atlanta is a large ccounseling agency that is now offering Reverse Mortgage counseling for free. Most other providers are charging $125. Third Party, independent counseling is required before a borrower can proceed with a Reverse Mortgage loan...
03/24/2010
There was a letter to "Dear John" in the New York post on Monday by an impatient borrower waiting (almost two years now, since the law as passed) for the Department of Housing and Urban Development's (HUD) Federal Housing Authority (FHA) division to adopt the law that was part of the Housing and ...
03/23/2010
First a quick explanation of what a servicing fee is and how it affects Reverse Mortgage loans. Reverse Mortgages do not require the borrower to make monthly payments so until now, at closing, there was a Servicing Fee Set Aside (SFSA) that was taken out of the available proceeds. This was about ...
03/18/2010
It is mind boggling to me that Reverse Mortgages for Co-ops are still not in effect. I get at least one phone call or e-mail PER DAY asking me for help. I don't know what to say anymore, it has been almost twenty months and the Department of Housing and Urban Development (HUD) to get the program ...
03/16/2010
David H. Stevens, Assistant Secretary of Housing for the Federal Housing Administration testified to Congress that the Reverse Mortgage program is important "The need for this type of program is greater now than it's ever been, due to increasing medical costs, declining employment/incomes, and le...
03/12/2010
I posted a few days ago about a very informative report from the Center for Retirement Research. The post can be seen here: http://activerain.com/blogsview/1529114/interesting-report-from-the-center-for-retirement-research-shows-that-reverse-mortgages-will-be-needed-more-than-ever-in-the-coming-y...
03/10/2010
Golden Gateway is a Reverse Mortgage Lender and their website vistors seem to be inputting higher values lately, so they assume that their home values are rising. They announced that "average home values for older Americans have halted their slide after remaining flat or declining for seven conse...
03/10/2010
I found a very well written piece on SeniorJournal.com from last summer about the top ten Reverse Mortgage Myths. I've seen a few versions of this and I've posetd about them in the past, but it's always good to debunk the most common myths. Obviously the biggest myth is that the lender "gets" the...
03/09/2010
Thanks to Reverse Mortgage Daily for finding this great report from Boston College. The report looks like it is long (9 pages), but the end note stake up four pages and the whole report is about four pages long. The report is about the results of a recent survey of workers who are getting close t...
03/05/2010
Unfortunately, it was the Snohomish County,WA Herald. It was called: Some retirees use reverse mortgages to pay for affluent lifestyle and it mentions several people who are using their Reverse Mortgages to maintain their lifestyles. What I liked about it was that it shows that Reverse Mortgages ...
03/04/2010
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Michael Pinter

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Everything you ever wanted to know about Reverse Mortgages.