Developing a simple way to explain reverse mortgages for consumers using one image isn’t an easy task, but that didn’t stop ReverseMortgage.net from trying.
The website created its own non-commercial visual with the help of the designers behind Mint.com (Don’t know who Mint is? Intuit recently paid $170m for the company) to help explain reverse mortgages. According to the website:
A Reverse Mortgage can offers immense advantages to the right borrowers. However, since ... Read Full Story
Canada’s largest reverse mortgage lender, HomEquity Bank announced that it has significantly reduced its variable rate on CHIP Home Income Plans to 3.75%, signaling a transformative change in the acceptance of reverse mortgages as a viable tool within the financial solutions landscape said a company statement.
The significantly lower cost of borrowing gives today’s cost-conscious seniors more flexibility in how their home equity can be used to enhance their retirement lifestyles.
"... Read Full Story
Just a reminder that Sam Collins is providing RMD readers with another free training session on December 1, 2009 at 2:00 PM.
Sam will show you how to “Make the Most of the Rest of 2009 and Help you Get Ready with Your Strategic Plan for 2010."
The session will help open your mind and show you how to make use of every part of your reverse mortgage business by utilizing a logical and systematic plan.
Attendees will walk away with an action plan they can implement immediately and rec... Read Full Story
During the Acceptable Advertising – and the Language You Must Avoid session at the National Reverse Mortgage Lenders Association Annual Conference in San Diego, panelists called advertising the biggest issue we have to deal with because it is the most visible and offered some insight into an extremely significant and sensitive issue within the reverse mortgage industry.
As NRMLA President Peter Bell pointed out repeatedly during the conference, Senator Claire McCaskill, the source behind muc... Read Full Story
Working Equity released an interesting solution that allows homeowners to protect 100% of the value of their home even while real estate values fluctuates said a company statement.
"We saw an immediate, pressing need for products that protect homeowners given the tremendous loss of wealth caused by the devastation in the national housing market," said Craig Schmeizer, Co-Founder of Working Equity, Inc.
Developed by a group of Fortune 100 executives, homeowners wh... Read Full Story
The US Department of Housing and Urban Development issued Mortgagee Letter 2009-49 to provide guidance for addressing FHA requirements for secured subordinate financing under the Federal Housing Administration’s reverse mortgage program.
According to the ML, Home Equity Conversion Mortgage (HECM) regulations require that there shall be no outstanding or unpaid obligations, either unsecured or secured, incurred by the HECM mortgagor in connection with the HECM transaction, except in ca... Read Full Story
The average reverse mortgage borrower will see their Initial Benefits increase by $2,750 from last week.
The rates as of 11/24/09 are:
Reverse Mortgage Rate Updates are brought to you by Jerry Wagner & Ibis Reverse Mortgage Software – The Industry Standard Since 1995. This is not just a slogan — six of the top 10 reverse mortgage originators plus NRMLA and the AARP use Ibis Software for their websites, retail and wholesale businesses.
Technorati Tags: Reverse Mortgage,HECM,FHA,HUD,Rates... Read Full Story
Industry advocates poised to get the message out about the value of a reverse mortgage have to convince people like Prescott Cole, senior staff attorney with California Advocates for Nursing Home Reform, self-described as a non-profit advocacy organization “dedicated to improving the choices, care and quality of life for California’s long-term care consumers”.
Cole and his group are among those who lobby lawmakers in Sacramento on issues affecting reverse mortgages and they are vocal in supp... Read Full Story
Inc Magazine published an interesting article about how small businesses are using Google TV Ads to launch low budget advertising campaigns on national cable channels and the satellite service Dish Network.
Google TV Ads works just like Adwords, except that instead of bidding on search terms, you bid on airtime. Advertisers can enter into Google TV Ads their desired audience and using data from Nielsen and other sources and then suggests shows, times, and channels that mach your targe... Read Full Story
