HighTechLending, Inc. NMLS # 7147

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…

The Mayo Clinic suggests 5 Foods to Lower your Cholesterol

It seems as we get older, we have to take more and more pills, but diet can play an important role in living healthier and happier lives.  These 5 foods can lower your cholesterol and improve your heart health.   A few simple changes to your diet and exercise routine can…

Reverse Mortgage Purchase rules are a bit different, but your loan is easier and safer

Whether you are already retired or looking forward to retirement there are many reasons it makes sense to relocate;  to move closer to the grand-kids, to change to a single story home, to change to a low maintenance home, to have more equity in order to qualify for a Reverse…

New Solutions for those that could not do a Reverse Mortgage previously

Over the years I have come across multiple clients that would like to do a Reverse Mortgage but for one reason or another they cannot.  This can be quite frustrating for someone that thinks they have found a safe solution to the challenge of having a mortgage payment in retirement.  There are ways…

Harvard study: Baby Boomers hardest hit by Great Recession. Solutions for improving retirement picture.

As we have recently blogged about, baby boomers are limping towards retirement with significant debt; much more so than their parents. Not all of it is their fault. During the Great Recession, on average, those 50 to 64 years old lost 32% of their net wealth. During this same period,…

Redfin Market report: Sellers dropping prices. Now a buyers market.

According to Redfin’s  July 2014 Housing Tracker report  more and more sellers will drop their prices this fall to attract buyers. Redfin agent Adam Welling tells Redfin. “When a buyer sees a price drop, she takes it as ‘blood in the water’ and wonders what’s wrong with the house (or the…

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…