Three of the top 10 markets in the country for reverse mortgages are located in Florida, according to an analysis of government data conducted by Reverse Market Insight.
HECM Loan Limit Increase Included in Stimulus Plan
We are pleased to announce that the draft of the economic recovery bill released by the House of Representatives late yesterday contains a provision, inserted in response to a request that came jointly from NRMLA and AARP, that would set the single national loan limit for HECM at a higher level than $417,000–for the balance …
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Social Security Administration Promoting Online Retirement Tool
The Social Security Administration just announced a new application that allows qualified individuals to register for Social Security benefits online in as little as 15 minutes. The SSA will be hosting a free demonstration–Retire Online. It’s So Easy!–on January 29 at 2 p.m. To RSVP, please visit http://www.socialsecurity.gov/survey/retireonlinersvp.htm. Be sure to invite your clients and …
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Face to Face Meeting or Not
Michael Borba (President Borba Investments, Inc. dba MLS Reverse Mortgage)
Some companies would like you to believe that these specialized loans are so intricate and confusing that Seniors can’t decide what to do without having their hands held. What am I referring to?
FHA Authorizes HECM for Home Purchase
Written by: Michael Borba (Owner/Broker, MLS Reverse Mortgage, Auburn, Ca) Beginning January 1, 2009 FHA will began insuring reverse mortgage loans for Seniors to purchase homes. Reverse mortgages have traditionally been available for refinance loans in the past, provided the Senior resided in the home.