HighTechLending, Inc. NMLS # 7147

Navigating your finances after losing a spouse

Losing your spouse is an incredibly difficult experience that can leave you feeling emotionally overwhelmed for your grief and a little disconcerted as you now have to take on their responsibilities. Change is hard for all of us, but after being together for so long, it may seem like an…

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. …

FHA increases RM Lending Limit for 2021

Reverse Mortgage Lending Limit Rises to Over $822k in 2021 The lending limit for federally-backed reverse mortgages is increasing for the fifth consecutive year in a row, set to hit $822,375 in 2021. The Department of Housing and Urban Development (HUD) announced on Wednesday via Mortgagee Letter (ML) 2020-42 a maximum claim…

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…

0.6% or 5.5% growth on your savings?

So much of our lives are spent in preparation for retirement. As young people, we are taught to get a good education so that we can earn enough to live comfortably and get money saved for the future. Once we graduate and get a good job, we begin to put…

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…

Gathering for the holidays is a great time to help loved ones

Thanksgiving, Christmas, and Hanukah are wonderful times to reconnect with family and friends that we hold so dear to us.  Life gets so busy that it is easy to lose touch with those we care for the most.   Teaching our kids to serve their grandparents or friends that we visit…

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,…