Is a Reverse Mortgage Right for You? - Webster County Citizen: News

Is a Reverse Mortgage Right for You? - Webster County Citizen: News

Reverse Mortgage Guideline Changes

The Department of Housing and Urban Development plans on publishing a Mortgagee Letter to provide guidelines on two separate policies.  The first addresses the non-borrowing spouse issue which will allow a spouse under the age of 62 to be placed on the reverse mortgage loan.  The second policy change will deal with financial assessment to help strengthen the program and protect borrowers.  The Mortgagee Letter is expected to be published in mid-February with an implementation 90 days after it is issued.

For up to date information on reverse mortgages, send a request to be contacted by a top reverse mortgage lender.  Visit:  www.reversemortgagebenefit.com.

ReverseMortgageBenefit.com
info@reversemortgagebenefit.com
www.reversemortgagebenefit.com

December Existing Home Sales Rise

The National Association of Realtors (NAR) recently announced that existing homes sales edged up in December 2013 and sales for all of 2013 were the highest since 2006.  The national median existing home price for all of 2013 was $197,100, which is 11.5 percent above the 2012 median of $176,800.  The continual increase in home sales should continue to drive home prices and home equity across the nation. Click on the link to read the entire article from NAR:  http://www.realtor.org/news-releases/2014/01/december-existing-home-sales-rise-2013-strongest-in-seven-years

The increase in home equity will allow more and more senior homeowners to qualify for a reverse mortgage and obtain more assets to help fund their retirement.  We expect to see an increase in reverse mortgage activity this year with more seniors inquiring about the program.  Let us provide you with valuable information on reverse mortgages to help you analyze your retirement options.  Visit:  www.reversemortgagebenefit.com to learn more.

Yours Truly,
ReverseMortgageBenefit.com
www.reversemortgagebenefit.com
info@reversemortgagebenefit.com

Reverse Mortgage Safeguards Vol.1

The vast majority of reverse mortgages today are federally insured by HUD.  This provides protection for both homeowners as well as lenders.  One protection for homeowners is they are guaranteed that the reverse mortgage program will always be made available to them once they have entered the program.  Lenders, on the other hand, are guaranteed that they will always receive the balance owed.  This is just one example of how the reverse mortgage program provides safeguards for both the consumer and lender.  In the coming series, Reverse Mortgage Safeguards, we will explore other areas of protection for consumers, lenders and the community.  Visit us at www.reversemortgagebenefit.com to learn more about reverse mortgages and send us a request to be put in touch with a reverse mortgage lender.

Reverse Mortgage Benefit

Reverse Mortgage Benefit is committed to being a resource for anyone interested in reverse mortgages.  We are an industry leader in providing accurate and timely information, as well as putting consumers in touch with top reverse mortgage lenders.  Visit us at www.reversemortgagebenefit.com to learn more about reverse mortgages and send us a request to be put in touch with a reverse mortgage lender.

New Reverse Mortgage Product

A new fixed rate reverse mortgage product has been announced by a few select lenders.  The new option allows for the additional principal limit amount to be utilized after the first year.  Previously, borrowers who chose a fixed rate reverse mortgage were unable to tap into any additional principal limit amounts that might have been available after paying off required liens and closing costs.  This made the fixed rate option less desirable for many, but this new product will give consumers more reason to opt for a fixed rate over an adjustable rate.
For more information on reverse mortgages, visit www.reversemortgagebenefit.com.