HighTechLending, Inc. NMLS # 7147

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…

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…

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…

Reverse Mortgage: For multiple reasons, now is the best time. Really, Right Now.

There are several factors that determine how much a homeowner gets on the Reverse Mortgage Program; Borrower Age, Home Value, Interest Rate, and required reserves.  Most people are surprised to hear that interest rates have a larger impact on the money available than age does.  “The Mortgage Professor,” a.k.a Jack…

Two Thirds of retirees are set to miss IRA deadline and pay Huge Tax Penalties!

With the end of another year fast approaching it would be wise to take some time out of holiday preparations and make sure your financial house is in order.  New research by Fidelity shows that as much as Two-Thirds of retired IRA owners are about to be assessed huge fees for…

Partnering with Trusted Specialists adds value to your brand and your clients

Adam Smith argued in the Wealth of Nations, that the division of labor can dramatically increase productivity and profitability.  Today we refer to this as specialization, or dividing a job into separate tasks, each one being performed by a specialist.  The idea being that each specialist can become an expert in…

BC Center for Retirement Research: Boost Retirement Income by Purchasing Lower Cost Home

With the cost of living increases, shrinking pensions, and increasing lifespans,  many retirees would like additional help in funding their retirement.  A new study by the Center for Retirement Research has released a booklet outlining ways retirement savers can use their home equity to receive peace of mind and additional retirement…

Consider using the Reverse Mortgage as a powerful tool to invest at reduced prices

Southern California has seen dramatic increases in home values in the last few years.  We have watched home values go up  around 20% in 2013 and 18% in 2014(42% cumulative increase).  While at the same time, the US Census Bureau reported in September 2014 that in the United States the median household…

Changes coming to Social Security payouts in 2015

Social security payouts to recipients will be going up this year by more than they went up in 2014.  The payouts are automatically adjusted based on the Consumer Price Index for Urban Wage earners and Clerical workers.  In recent years we have seen payouts not increase at all, as in years 2010 and…

How much money do YOU need to retire? Simple steps to calculate YOUR needed income.

Do you need 1 million dollars to comfortably retire?  Or maybe 2 million? Or perhaps 10 times your annual salary?  If you don’t already know your answer, then you may want to consult with a professional.  There are multiple ways to determine how much money you might need in retirement just as there…