HighTechLending, Inc. NMLS # 7147

Breaking: FED to cut rates by 50 basis points

Citing the need to encourage maximum employment and create stable prices Jerome Powell just announced the Federal Reserve will be lowering the Federal Funds overnight rate by 50 basis points. He said they will make decisions going forward about future rate cuts based on current needs and the employment rate,…

Reverse Mortgage limits increase in 2017!

The reverse mortgage loan limit is the cap that the RM program puts on home values used to calculate your qualification.  The current limit is set at $625,000 and has been cemented there for many years; even though home values in California have been steadily rising.  The limit effectively caps…

Think a reverse mortgage isn’t for you? I dare you to read this article and not change your mind.

You are of Reverse Mortgage (RM) age and you don’t need the money.  You should get a RM anyway.  There is a powerful tool in a RM called a Line of Credit Growth Rate.  On the HECM(Home Equity Conversion Mortgage) Annual program with an initial rate of 4.35% (plus monthly…

FED rate hike affects the money paid out on Reverse Mortgages

The US has enjoyed historic low interest rates for the better part of 9 years.  But Yesterday the Federal Reserve Chair, Janet Yellen announced that the economy has strengthened, opening the way for her to raise the FED funds rate for the first time in almost a decade (effectively since…

Protect Yourself From These Scams Targeting Retirees

The baby boomer generation continues to have a large affect on business in America.  That is still true now that many are retiring.  With the number of retirees increasing dramatically, more scammers have moved to targeting the older population.  With that in mind, here is a list of some of…

Journal of Financial Planning research shows RM LOC can improve returns in stock market

Many people think that a reverse mortgage is a program for those running out of options, or those that did not sufficiently plan for retirement.  This idea is false, as the program is a great tool for those that take the time to learn how to use it.  A recent…

Why you should get a Reverse Mortgage LOC at 62, Especially if you don’t need any money now!

It has been said that compound growth is the most powerful force in the universe.  Case in point, if a 16 year old today puts $2,000 away in a ROTH IRA until age 21 and lets it earn 9.4% interest annually (average stock market gain since 1926) this person would retire…

The Fastest growing Financial Planner accreditation ever

The American College of Financial services, which is the largest education provider for financial services, has been training financial planners to become more knowledgeable in their industry for over 88 years.  “Our heart and soul is the financial services industry, and servicing and educating professionals and advisors in the industry,” says…

HUD: New protections for owners that came off title for spouse to obtain a reverse mortgage

In the past, some couples facing financial difficulty and the possibility of losing their homes, elected to have the younger spouse removed from title so they could get a reverse mortgage.  Often this was because a spouse was under 62, stopping them from getting a reverse mortgage.  Other times it…

Reducing housing costs in retirement

You love your home, you raised your kids there and have so many wonderful memories and close friends nearby.  But, you many find that your housing costs seem to rise every year.  Twenty years ago most retirees went into retirement with their homes completely paid off.  Today is quite a different…