The PATH (Act) to Hell is Paved With Good Intentions…
It’s not uncommon for a piece of legislation, which hopes to fix one problem, can create another. The Protecting American Taxpayers and Homeowners Act is just one of the most recent, especially where reverse mortgages are concerned. The PATH Act, introduced by the House Financial Services Committee on July 18, seeks to: Phase [...]
Retirement Savings Gap Reaches $14 Trillion…
It’s Time to Start Saving With a Reverse Mortgage Retirement savings, savings in general, seem to have fallen by the wayside according to an article published by Reverse Mortgage Daily, which states that a recent report by the National Institute on Retirement Security has found that the average working household has virtually [...]
“Brokers Beat Banks on Tough Loans…”
States Rick Bettencourt, government affairs official for the National Association of Mortgage Professionals Being a broker is tough, especially because of the misconceptions associated with the term ‘broker.’ In an article, published by Mortgage Professional America, Bettencourt discusses the necessity of brokers, especially in the current financial climate. In a previous blog, [...]
Florida Continues to Age Well
Florida tops southern states in the life expectancy and healthy life expectancy of older Americans aged 65 years of age and older, according to a recent report by the Centers for Disease Control and Prevention via Reverse Mortgage Daily. Females fared better than males with an average life expectancy of 21.7 [...]
Reverse Mortgage Success Story in Pembroke Pines, Fl…
Dennis Skinner was heading to foreclosure. He looked to a reverse mortgage to pay off his mortgage and continue to live in his home during retirement. He began to the process with Wells Fargo Bank in February 2009 but just a few months later, in September, Wells Fargo announced that they would be unable [...]
Reverse Mortgage Success Story in South Florida
In August 2009, Tom and Patty Harrison began their search for a reverse mortgage 6 months before Patty would turn 62. Tom was suffering from kidney failure and was forced to retire. Patty had to quit her job in order to take care of Tom and their monthly mortgage payments kept putting [...]
