“Ding dong, the witch is dead . . .” oh wait a minute, we need the jumbo reverse mortgage! It WAS a good program. It filled a niche for homeowners who are very equity rich and cash poor. But for now, it is true, the last jumbo reverse mortgage, called the Equity Plus Advantage (EPA) [...]
Tag Archives: reverse mortgages
Reverse Mortgages Versus the Cash-Out Loan
Now I’m not one to preach, but this is a topic that can get my blood boiling. I get at least 5 calls a week from seniors who did a cash out loan, often a option ARM, and can no longer afford the payments. Now they are calling me practically begging for a reverse mortgage [...]
The Reverse Mortgage Quote Explained
If you have ever seen a reverse mortgage quote, you know that it looks quite different than traditional loan quotes. In case you haven’t, you can see a sample reverse mortgage quote as you read the explanation.
As an aside, don’t confuse the results produced by an online reverse mortgage calculator with an actual quote for a reverse [...]
Jumbo Reverse Mortgages
Reverse mortgages are available in two main flavors: FHA conforming and non-conforming, the latter is also known as a Jumbo Reverse Mortgage. An FHA conforming loan limit is the maximum amount of home value that is recognized in calculating the amount of money that will be lent on the home. Jumbos are considered by senior [...]
Reverse Mortgage Lenders Dropping Like Flies
You might think that reverse mortgage lenders and banks, with their gobs of protective equity, would be immune to the Wall Street mortgage lending crisis. After all, how bad could the default rate on a home loan with no payments and at 40% to 50% LTV be? Tell that to the Wall Street bears.
Since investors [...]
Reverse Mortgage Pro Intro
Thanks Todd, for the warm welcome. I look forward to offering up some informative posts about the world of reverse mortgages.
Luke
Reverse Mortgage Pro
Reverse Mortgages California
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