Search Results for: reverse mortgage

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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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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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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Caregivers Can Be Helped By Reverse Mortgages

A study by the National Alliance for Caregiving and the AARP showed that nearly one third of the US population are caregivers, defined as providing unpaid care to an adult or a child with special needs. These caregivers spend an … Continue reading

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RMG NEWS : Reverse Mortgage Amendment Passes the House with Overwhelming Support

Financial Services Bill H.R. 4173 passed in the House of Representatives this afternoon by a vote of 223-202.  Included with it was the Reverse Mortgage Amendment proposed by Congresswoman Jan Schakowsky and Congresswoman Dina Titus.  The Amendment passed overwhelmingly by … Continue reading

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RMG NEWS : FHA Developing Mathematical Method to Determine Reverse Mortgage Eligibility

In the coming months the Federal Housing Administration will issue preliminary regulations that will be the first step in developing a method to mathematically determine a borrower’s eligibility for a reverse mortgage, according to Meg Burns, director of Single Family … Continue reading

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RMG NEWS : HUD Extends Higher Loan Limit for FHA Reverse Mortgage Program

The US Department of Housing and Urban Development (HUD) officially extended the loan limits for its FHA-insured reverse mortgage program with Mortgagee Letter 2009-50. The changes are effective immediately for loans closed on or after February 24, 2009. According to … Continue reading

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RMG NEWS : Reverse Mortgages Face The Music

In the last fiscal year, mortgage lenders funded 114,692 reverse mortgages under the FHA’s HECM program. Five years ago just 43,000 of reverse mortgage loans were written. Until a year ago, the reverse mortgage niche looked like a safe bet … Continue reading

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