Reverse Mortgage Information

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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!

 

 

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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.

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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

Comments

You have to appreciate a program that will correct itself when it gets something wrong.

Posted by Tim Lorenz, 949 874-2247 (TIM LORENZ - Elite Home Sales Team) about 7 years ago

Way to go FOX - May have well been threat of lawsuits...still Kudo's...

Thanks for the information.

Kim

Posted by Kim Suecroft - Hanson (Restage Inc.) about 7 years ago

I hope all who saw the first broadcast saw the correction.  There sure is enough misinformation out there about reverse mortgages!  Thanks, Deb!

Posted by Sylvia Williams, Ed.D (Reverse Mortgage Consultant) about 7 years ago

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