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New Solutions for those that could not do a Reverse Mortgage previously

Over the years I have come across multiple clients that would like to do a Reverse Mortgage but for one reason or another they cannot.  This can be quite frustrating for someone that thinks they have found a safe solution to the challenge of having a mortgage payment in retirement.  There are ways…

Harvard study: Baby Boomers hardest hit by Great Recession. Solutions for improving retirement picture.

As we have recently blogged about, baby boomers are limping towards retirement with significant debt; much more so than their parents. Not all of it is their fault. During the Great Recession, on average, those 50 to 64 years old lost 32% of their net wealth. During this same period,…

Redfin Market report: Sellers dropping prices. Now a buyers market.

According to Redfin’s  July 2014 Housing Tracker report  more and more sellers will drop their prices this fall to attract buyers. Redfin agent Adam Welling tells Redfin. “When a buyer sees a price drop, she takes it as ‘blood in the water’ and wonders what’s wrong with the house (or the…

Biggest Fee on RM can now be cut by 80%

Probably the biggest concern people have over doing a Reverse Mortgage are the high initial costs.  This is a valid concern, but there are protections that a RM offers that a standard loan does not.  Let me explain, the biggest cost to do a RM is the IMIP or Initial…

NEW Reverse Mortgage for High Value Homes

The Reverse Mortgage market has mostly had the standard HECM Reverse Mortgage option for the last 4 years.  This has created a void for homeowners with homes between $625,000 and $2 Million.  Until now.  Urban Financial has recently created a flexible Jumbo product for this group.  The Max payout on the HECM loan is just…