HighTechLending, Inc. NMLS # 7147

HUD: New protections for owners that came off title for spouse to obtain a reverse mortgage

In the past, some couples facing financial difficulty and the possibility of losing their homes, elected to have the younger spouse removed from title so they could get a reverse mortgage.  Often this was because a spouse was under 62, stopping them from getting a reverse mortgage.  Other times it…

Reducing housing costs in retirement

You love your home, you raised your kids there and have so many wonderful memories and close friends nearby.  But, you many find that your housing costs seem to rise every year.  Twenty years ago most retirees went into retirement with their homes completely paid off.  Today is quite a different…

Consider upgrading to a smaller home or apartment

When looking forward to retirement you may realize that you no longer need the large house your raised your children in.  It has been a home and a great investment.  Looking forward you may realize it would be better to have a single story home, that you no longer need…

Americans are ill prepared for # 1 worry in retirement

The Teachers Insurance and Annuity Association-College Retirement Equities Fund (TIAA-CREF) recently conducted a survey that showed almost 85% of respondents had the same overall concern in retirement planning; securing a guaranteed income stream.  The most popular and easily accessible income stream in retirement is an annuity but, 65% of those…

Reverse Mortgage Financial Assessment brings changes April 27th 2015

With the Financial Assessment date almost upon us, HUD has issued clarification on how this will affect those that don’t complete their counseling before April 27th 2015.  In an effort to further protect those with reverse mortgages the financial assessment will use two methods to ensure that borrowers will be…

As Credit/Income Challenged Reverse Mortgage Applicants Rush To Beat FA deadline, It Is Extended

Potential Reverse Mortgage (RM) borrowers have been hurrying to qualify for a RM before the Financial Assessment (FA) takes effect March 2nd, 2015.  So many have been trying to get the required FHA counseling sessions that they are currently on a backlog of a week or longer just to get an…

Notice: Senior borrowers behind on Tax and Insurance bills may get $25,000 in help

Those with reverse mortgages rest easy at night knowing they don’t have any house payments to make; but they may still experience hardships that make it difficult to make their property tax or home insurance payments.  There is a new program offering additional relief to Reverse Mortgage borrowers. A recent…

Have you planned sufficiently for retirement?

We all know the time for retirement will arrive someday and we may feel that day is so far off…until we realize that day is right around the corner.  With the demands of work, marriage, kids, the surprises of life and having fun, preparing for retirement can be put on the…

Breaking News: FHA offers new protections for Spouses that came off title when getting a Reverse Mortgage.

Many times there is a significant difference in what an older spouse and a younger spouse will qualify for on a reverse mortgage; the older a person is, the more money they qualify for on a Reverse Mortgage.  What do you do if the older spouse has enough to cover paying…