Reverse Mortgage Information

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Hey Southern California - Here's a Reverse Mortgage Video post from CNN Money

A Video about Reverse Mortgage was posted Feb 9, 2010 on CNN Money's Ask The Expert sectionVideo

 

I'm signed up for "Google Alerts" for the keywords "reverse mortgage" and today a great little tidbit showed up. A couple of days later than the date of the post, but still pretty good that I found it as there is a lot out there about reverse mortgages, both good and bad.  

Take about 2 minutes and listen to the video to learn some good basic information about the new reverse mortgage program - HEMC Saver.

 

 

 

 

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By Deborah Nance

NMLS#202003

Your Local Southern California Reverse Mortgage Professional

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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 2 commentsDeborah Nance • February 17 2011 05:29PM

Comments

Hey Debbie, greetings from AZ! Good info in that video. Definitely a better deal with the Saver! :)

Posted by Candice A. Donofrio, 928-201-4BHC (4242) call/text (Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker) about 7 years ago

Hey Candice,  I do like the Saver - it's very competitive as an alternative to a traditional Home Equity Line of Credit.  A nice little financial tool for seniors who need some cash flow.  Hope all is great in AZ - I know the weather is.  :-)

Posted by Deborah Nance, Southern California , Reverse Mortgage Specialist (Orange County, Corona, Riverside, Los Angeles) about 7 years ago

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