
More money available soon on Reverse Mortgage loans
Home values have been ballooning in recent years. The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, which covers all nine U.S. census divisions, reported a 19.5% annual gain in September 2021! The prior year period from September 2019 to 2020 the same area reported a 19.1% annual gain. …

Spending more time at home? Fix it up just how you have dreamed of with our digital contact Reverse Mortgage.
We have all spent more time at home than we ever imagined in the last 9 months. Your world has changed immensely over the Coronavirus pandemic, yet your home has stayed the same. A realtor client of mine called me the other day to tell me they decided to finally…

Effectively use home equity in your retirement plan for the bucketing approach
My kids have been putting some money aside in a secret hiding spot so they can buy the newest and greatest video game system. Without knowing it, they have been using a type of bucketing system to accomplish their goals. Investopedia defines bucketing for retirement like this: “Bucketing segments funds…

Chase Bank Halts HELOC applications, but Reverse Mortgage Lines of Credit continue on and are guaranteed!
Last week, JPMorgan Chase announced they stopped accepting applications for Home Equity Lines of Credit (HELOC) loans. They cited the fact that rising unemployment rates could cause home values to fall. In 2008, the last time home values crashed the banks first halted taking applications for HELOCS, then they froze…

Breaking: Reverse Mortgage to pay even more on high value homes
The Federally insured Reverse Mortgage (RM) or the Home Equity Conversion Mortgage (HECM) has always had a cap set on the value they will accept on appraisals. For 2019 this cap has been set to $726,525. If you apply for a RM and your home was to appraise for $800,000,…

Breaking: FHA eases condo rules for Reverse Mortgages
In the past condo owners were lucky if they were one of the few condo complexes that were FHA approved; only 6 ½ % of condos are actually FHA approved (housingwire.com). I worked with an applicant in San Diego and we tried for 6 months to get her condo to…