Reverse Mortgage Information

head_left_image

Riverside - Did you see the Fox News Segment on Reverse Mortgages?

Folks in Riverside may have seen this Fox News segment on Reverse Mortgages. Watch the latest video at video.foxnews.com  

It's worth listening to... Apparently, Fox got it wrong the first go around - good for them to correct their report.

Here is a link to the organization that they refer to at the end of the segment.  The National Reverse Mortgage Lenders Association.

If you want reliable information about reverse mortgages, NRMLA is a great place to start!

 

 

©  

 ButtonButton

 

By Deborah Nance

NMLS#202003

Your Local Southern California Reverse Mortgage Professional

How Much Do You Qualify For?

Click the Learn More Button below to email me a question.

Button

 

Equal Housing Lender

iReverse Home Loans, LLC, NMLS#810502 originates reverse mortgages in Alabama, Alaska, Arizona (MB-0919584), California, Colorado, Connecticut, Florida, Illinois, Indiana, Iowa, Kansas, Louisiana, Maryland, Massachusetts, Minnesota, Mississippi, Missouri, Nevada, New Jersey, New Mexico, Ohio, Oregon (ML-5378), Pennsylvania, South Dakota, Tennessee, Texas, Utah, Vermont (1164-MB), Virginia, Washington and Wisconsin. 

Important Information: Reverse Mortgages are neither "endorsed" nor "approved" by the Federal Government. The FHA (Federal Housing Administration) provides certain insurance benefits for lenders and borrowers in connection with the lender’s HECM loans; the FHA does not make or originate loans. The owner(s) retain title to the property that is the subject of the reverse mortgage until the person sells or transfers the property and is therefore responsible for paying property taxes, insurance, maintenance and related taxes. Failing to pay these amounts or failure to maintain the condition of your property may cause the reverse mortgage loan to become due immediately. A reverse mortgage is a complex loan secured by your home. Whether such mortgage makes sense for you depends on your financial situation and needs. For these reasons, we strongly recommend that you consult with a qualified independent housing counselor, family members and other trusted advisers before making this decision. This website is not from HUD or FHA and was not approved by HUD or any government agency.

Comment balloon 3 commentsDeborah Nance • January 29 2011 01:03AM
Riverside - Did you see the Fox News Segment on Reverse Mortgages?
share
Folks in Riverside may have seen this Fox News segment on Reverse Mortgages. Watch the latest video at video. foxnews. com It's worth listening to… Apparently, Fox got it wrong the first go around - good for them to correct their report. &… more
Riverside Reverse Mortgage Question? Why is HUD taking over my loan?
share
Riverside Reverse Mortgage Question? Why is HUD taking over my reverse mortgage? Over time, the loan balance on a reverse mortgage increases. This is due to accrued interest and may also be due to line of credit withdrawals, or payments.. more
Corona Reverse Mortgage Question - Who Gets My Home When I Die?
share
Corona Reverse Mortgage Question - Who Gets My Home When I Die? Your heirs do! Contrary to the very common myth, the bank does not own your home - you do. A r everse mortgage is just a loan against the home like any other mortgage. The major… more
Question for a Financial or Estate Planner - Would a Reverse Mortgage…
share
I heard a story last week from a friend of mine who just flew home from vacation. She had a great conversation with her seat mate on the plane and shared with me this story. The fellow sitting next to her talked about how his 93 year… more
The Perfect Retirement Loan?
share
I find one of the most intriguing aspects of the reverse mortgage loan is the line of credit option and it’s growth feature. If a homeowner has a HECM Adjustable Rate Loan, either Standard or Saver, and they choose the line of… more
Riverside - Reverse Mortgage Fine Print - Some things you might want…
share
Ever yone knows the basics by now - “Senior homeowners and home-buyers over the age of 62 may qualify for a government insured reverse mortgage. Call now for our free video. ” But what are the nuances and how are they helpful or… more