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…
Need Cash to fix up your home that you want to sell? Use a Reverse Mortgage as a Bridge
I always tell my clients, a Reverse Mortgage is a tool that will work well for some situations and will not work for other situations. The important thing is to be aware of how it works so one can understand all of its applications. One such use would be as…
Financial Advisor Magazine: Baby Boomers financial needs are different than their parents
The only constant in life is change. The cultural and savings habits of the World War 2 Generation and the Baby Boomer Generation is substantial. The typical WW2 retiree has spent a lifetime saving for retirement, has a pension from the company they worked for for 40 years and pays off…
The biggest threat to the financial security of retirees.
With more and more baby boomers reaching retirement age, there is a looming threat to your financial security that is largely unprepared for. In fact, 75-80% of retirees have no plan to even prepare for long term health costs. There are 2 main reasons only 25% of mature citizens have prepared…
NEW Reverse Mortgage for Purchase Calculator
There is good news for homeowners, Realtors, or other professionals that would like to quickly and easily calculate how much of a home one qualifies for on the Reverse Mortgage for Purchase program. www.Funds4Seniors.com has a brand new CALCULATOR that any professional should have bookmarked. All you need to do is put…
Reverse Mortgages will soon provide even higher payouts for older borrowers
Whether you live in Orange County. Los Angeles County, Riverside, San Bernardino, or San Diego Counties you may receive a higher payout for your reverse Mortgage. If you are looking for funds to travel, renovate your kitchen, help grandkids with their education, or pay medical bills, the good news is,…
Purchasing a home with a Reverse Mortgage
Many Mature homeowners have heard of Reverse Mortgages, but, not many are aware that they can actually purchase a home using an FHA insured Reverse Mortgage, and both prospective homeowners do not need to be 62 years old. Currently, there is NO minimum credit score, No income requirements, and there is…
Reverse Mortgages for those younger than 62
Many mature homeowners are now relieved that they no longer have to wait for a younger spouse to grow older before protecting their home and their situation with a Reverse Mortgage. Whether you are looking to eliminate the stress of a mortgage payment, pay off credit cards and debt, make home improvements,…
Southern California Reverse Mortgage, 5% Rate Cap
For years, residents of Los Angeles, Pasadena, Orange, Riverside, and San Bernardino California have had 2 main choices when it comes to Reverse Mortgages; a Fixed Rate, or an adjustable rate with a lifetime cap of 10% over the starting rate. There are a few new products now available to…
