Changes to the Reverse Mortgage Program Has Positive Effect
Changes to the Reverse Mortgage Loan Has Positive Effect Amid the news that the positive press for the reverse mortgage loans have surged in the past months and FINRA’s declaration that the reverse mortgage is no longer a loan of last resort, individual financial planners are beginning to see the advantage of the reverse mortgage loan [...]
Positive Press Surges for Reverse Mortgages During June
Positive Press Surges for Reverse Mortgages During June The recent changes to the reverse mortgage cam swiftly last September 30 and changed the landscape of the reverse mortgage program for future borrowers. One of the biggest hurdles since the changes, however, has been combating the established reputation of the reverse [...]
NRMLA Reissues Ethics Guidance for HECM-to-HECM Refinance After Recent Changes
NRMLA Reissues Ethics Guidance for HECM-to-HECM Refinance After Recent Changes The reverse mortgage program continues to change for the better, this time making more proceeds for older borrowers. According to an article published by Reverse Mortgage Daily, at an interest rate of 6% borrowers who are 78 and older will potentially [...]
Using a Reverse Mortgage for Changing Retirement Plans
Using a Reverse Mortgage for Changing Retirement Plans The reverse mortgage is still a viable option for seniors hoping to pay off their mortgage and continue to live debt free during retirement, but very few take advantage of it. In fact, according to a nationwide survey, presented at the National Reverse [...]
HECM For Purchase: Downsizing With a Reverse Mortgage
HECM For Purchase: Downsizing With a Reverse Mortgage Back in 2008, Congress authorized a HECM for Purchase loan, allowing seniors, for the first time, the ability to buy a house and take out a reverse mortgage at the same time. This option still continues to be the best option for older Americans looking [...]
Philip Dixon, CRMP
A native of Essex England, Philip Dixon attended Chelmer Institute of Higher Education. He moved to the United States in 1984 eventually making his home in Stuart, Florida. Since moving to the States he has built a career in the mortgage industry, specializing in FHA Reverse Mortgages since 2003. He [...]
