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.
RECENT BLOG POSTS
If all of the professionals that help Baby Boomers, Active Retirees and Seniors understood how Reverse Mortgages work, the world would be a much better place. I hear pretty much the same story from every elder law attorney, financial planner, long term care insurance agent, daily money manager an...
05/05/2010
An Article last week in The Wall Street Journal mentioned the recent changes and that Reverse Mortgages are getting less expensive. Maybe this is he beginning of a new age of more positive media coverage. Most professionals that help seniors (e.g. Elder Law Attorneys, Financial Planners, Daily Mo...
04/29/2010
After a year where loan amounts were cut by 10% and more cuts have been proposed (threatened) by the Department of Housing and Development (HUD) things lately have been getting better for Reverse Mortgage borrowers for the first time. The Servicing Fee Set Aside, a difficult-to-explain amount tha...
04/28/2010
I have no idea who Harold Groves is, but he posted on a Stock market Review Blog, his opinion about how a Reverse Mortgage works. This would be good, if he had any idea what a Reverse Mortgage was. The easiest answer is "it's just the opposite of a regular mortgage!" I make payments to the lender...
04/27/2010
I had heard that this clip portrayed Reverse Mortgages in a bad way, but I thought it was pretty fair and not too bad. Rebecca Jarvis talks about the pros and cons of a Reverse Mortgage and besides the ominous first slide that shows that the government has "taken over" $381 million in Reverse Mor...
04/27/2010
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
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Everything you ever wanted to know about Reverse Mortgages.