Category Archives: Reverse Mortgage Loans

Convert your Home Equity into Cash Money without Changing the Ownership

If you are 62 years of age or older and are in need of urgent cash, the idea for applying reverse mortgage loan is a good option. You may find yourself in a situation when you need cash but cannot … Continue reading

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Top 5 Factors for Applying Reverse Mortgage Loans

Senior citizens are always afraid to apply for loans to maintain their lifestyle and way of living. They are always in fear that the lender will take away their home in return of the loan or they will be burdened … Continue reading

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Poor 401(k) Performance Causes Increase in Reverse Mortgages Issued

Let’s face it. The current economic atmosphere is almost absent of 401(k) gains. The massive losses taken in the 401(k) arena is leaving senior homeowners struggling financially. Home Equity Conversion Mortgages, or HECMs, have been around for over 20 years. … Continue reading

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Reverse Mortgages in California, Florida, and Arizona

Now that homes are upside down in the states of California, Florida, and Arizona, the regions hit hardest by the economic collapse, seniors are looking for ways to supplement their income to keep their home and memories.  Seniors that took … Continue reading

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RMG NEWS : Origination Volume Up 25% in FY 2009

Volume of the FHA’s Home Equity Conversion Mortgage (HECM) grew to $30.2 billion in Fiscal Year 2009 according to budget documents released earlier this week. Despite only a slight increase in endorsed units, max claim volume grew 25% compared to … Continue reading

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RMG NEWS : Legislation Update

Senator Chris Dodd (D-CT) and President Obama met face-to-face on Tuesday. Reports suggest that Dodd may drop the proposed Consumer Financial Protection Agency from the emerging Senate Financial Services Bill, in order to gain the support of some Republicans and … Continue reading

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More Realtor Education Needed to Increase HECM For Purchase Volume

With the FHA predicting a surge in Home Equity Conversion Mortgages (HECM) for Purchases next year to 3,420, up from 423 in 2009’s fiscal year, it seems a little surprising that the industry isn’t more optimistic about the program. “Everyone … Continue reading

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Reverse Mortgage Volume in Canada Sees Big Boost from Lower Rates

Canada saw fourth quarter origination of reverse mortgage  jump to $43 million, according to the HOMEQ Corporation. HomEquityBank, a subsidiary of HOMEQ Corporation, saw an increase of 77% over the same period last year and an increase of 11% over … Continue reading

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RMG NEWS : The FHA Steps Up In Times Of Need

Every time the HUD makes a change or looks at its financial stability, the question arises: Should the government really be involved in homes and loans? Some members of Congress would like to see the FHA taken out of the HUD … Continue reading

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Reverse Mortgage Group Wishes You a Happy New Year!

To learn more about RMG, why not contact us now? We’d love to answer your questions.

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