Reverse Mortgage

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Mortgage and Lending - Sun American Mortgage
RECENT BLOG POSTS
Generally, elderly parents want to remain living in their own home. However, remaining in the home becomes a concern when children see their parents slowing down, perhaps even having trouble with handling stairs and doing general daily activities. Yet, with parents' mental and physical health cur...
10/27/2009
For many seniors the equity in their home is their largest single asset, yet it is unavailable to use unless they use a conventional home-equity loan. But a conventional loan really doesn't free up the equity because the money has to be paid back with interest. A reverse mortgage is a risk-free w...
10/27/2009
If we were to ask an older person what his or her most important concerns for aging are, we would probably get a variety of different answers. According to surveys frequently conducted among the elderly, the most likely answers we would receive would include the following three principal concerns...
10/14/2009
The economic stimulus bill signed by President Obama in Denver, CO raises the national loan limit for reverse mortgages from $417,000 to $625,500.  The higher loan limit is only for reverse mortgages made during the remainder of 2009 and will not be available unless Congress submits a new bill to...
10/07/2009
Some retirees have a financial plan that entails selling their current home and moving into an apartment or smaller home.  The proceeds from the sale would be used to help fund their retirement.  It might sounds like a good plan, but with the current economy and with home prices the way they are,...
10/07/2009
Reverse mortgages enable eligible homeowners to access the money they have built up as equity n their homes.  They are primarily designed to strengthen senior's personal and financial independence by providing funds without a monthly payment burden during their lifetime in the home. The major eli...
09/24/2009
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Reverse mortgages were not created by a bank; they were created by the federal government to help seniors use the equity in their home in a safe secure way in their retirement years.  The correct term for the program is the Home Equity Conversion Mortgage or HECM.  I have closed hundreds of rever...
08/11/2009
Seniors today often live with a great deal of financial uncertainty. The retirement they imagined may be different than what they once thought. Incomes are flat or declining, living and medical expenses are higher than ever before and those who have a mortgage feel that they'll never pay it off a...
07/20/2009
If you are considering purchasing a new home and are over the age of 62, a new financial tool has become available as of January 2009.  The FHA Reverse Mortgage can now be used to purchase a new primary residence allowing seniors to get the same result as paying cash for the home.  The outstandin...
07/12/2009
Seniors are increasingly discovering the benefits of a Reverse Mortgage. Reverse Mortgages apply the opposite principles of a traditional forward mortgage. In a traditional mortgage, you pay down a home loan, turning your income into home equity. A Reverse Mortgage turns equity into tax-free inco...
07/11/2009
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Robert Jones

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Contact The Author
Robert Jones is a Reverse Mortgage Specialist at Sun American Mortgage, located in Mesa Arizona. Sun American Mortgage is a lender, seller and servicer of the government insured Reverse Mortgage or HECM (Home Equity Conversion Mortgage). Over twenty years ago, Sun American Mortgage closed the first Reverse Mortgage in Arizona and has helped thousands of seniors gain financial freedom through this unique program.