Wednesday 4th December
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Podcast: Attorney Tom Cox on How to Handle Mortgage Forbearances
Written on 29 Aug, 2020 at 15:07
What if you accept a forbearance and don't make your $2,000 a month mortgage payments for six months? Is this going to be a problem for millions of homeowners? ... (Continue reading)
From Forbearance to Foreclosure? A Real Home and Business Owner Podcast
Written on 18 Aug, 2020 at 14:33
But, forbearance is not forgiveness. At some point the money has to be paid back. The question for millions of Americans today is: How?... (Continue reading)
A Realistic View of the Economy Ahead – Part 2
Written on 18 Aug, 2020 at 13:06
I realize the media is saying that "there are signs that our recovery is slowing," but that's just a bunch of nonsense. This is not a time to live in denial.... (Continue reading)
VIDEO: What We Know and Don’t Know About the Economy
Written on 10 Jun, 2020 at 10:48
Credit is tightening significantly, over 4 million homeowners have stopped making mortgage payments and some 40 million are un- or under-employed. So, what can you do to protect yourself going forward? ... (Continue reading)
Why EVERY Attorney Needs to Know What HECM Means
Written on 11 Feb, 2020 at 15:39
I've had attorneys tell me that it's not their job to know about such things, but I think that's wrong. If your job is to solve problems then I think it is your responsibility to know about the tools that... (Continue reading)
HELOCs are Bad for Older Homeowners. Better Options Exist
Written on 5 Feb, 2020 at 17:08
The PLOC costs about the same as the HELOC and the interest rates are competitive, so why would anyone considering a HELOC not choose the PLOC instead? There's only one reason I can think of... they simply don't know.... (Continue reading)
Merrill Lynch Proves Clueless on Use of Home Equity in Retirement
Written on 3 Dec, 2019 at 15:06
The HECM program and other reverse mortgages are specifically designed for retirees looking to access their home's equity. For Merrill Lynch not to mention the HECM alternative in an advisory bulletin about accessing home equity in retirement makes that... (Continue reading)
For HECM Professionals… An Invitation to Attend a Day of HECM Power Training.
Written on 15 Apr, 2018 at 16:42
Make the investment in your career that will make that career much more productive, profitable and satisfying. Learn to implement real strategies and tactics that are being used successfully every day with trusted advisors and homeowners in the field.... (Continue reading)
The HECM Mortgage is Controversial? Well, it shouldn’t be.
Written on 19 Feb, 2018 at 22:51
Everyone approaching or in retirement should know about the HECM program and how it might impact their retirement years. There's absolutely nothing wrong with today's HECM mortgages... no matter what you've heard in the past.... (Continue reading)
The Media Continues to Get it Wrong on Reverse Mortgages
Written on 4 Oct, 2016 at 1:49
No one should write about a HECM reverse mortgage as being good or bad, because it depends on so many variables... and 94% of homeowners with a HECM say it gave them peace of mind.... (Continue reading)
The Single Best Tool for Downsizing in Retirement is Called: HECM-for-Purchase
Written on 9 Sep, 2016 at 19:28
There's no better tool for downsizing in retirement than the HECM for Purchase, a mortgage insured by the FHA. So why do so few homeowners and/or Realtors know anything about it? ... (Continue reading)
How a HECM Reverse Mortgage Saved a Homeowner Over $200,000
Written on 9 Sep, 2016 at 1:03
Homeowners with significant amounts in their retirement accounts can often benefit from using the HECM because it's a tax free source of funds.... (Continue reading)
A Reverse Mortgage Ruined His Life? Nonsense. Not true.
Written on 4 Aug, 2016 at 17:08
The reverse mortgage didn't cause Mr. Feil any harm. In fact, it's because of the HECM reverse mortgage that Mr. Feil was able to keep the home instead of losing it to foreclosure.... (Continue reading)
Are You Overestimating Your Ability to Access Your Own Money in Retirement?
Written on 15 Feb, 2016 at 9:14
I've found that most homeowners are dramatically overestimating their ability to pay off mortgages in retirement and/or access the equity in their homes once retired.... (Continue reading)
Motley Fool’s 10 Reasons Not to Get Reverse Mortgage is So Wrong… but Some Right
Written on 17 Feb, 2015 at 16:23
Yet another example of shoddy reporting on reverse mortgages. Some of what Bennett writes is correct, but much of it is slanted and the rest is just plain wrong.... (Continue reading)
How and Why Congress Changed the Reverse Mortgage in 2008
Written on 7 Nov, 2014 at 5:13
Congress recognized the important role that reverse mortgages play so in HERA they offered greater protections and increased utility to homeowners.... (Continue reading)
Views on Reverse Mortgages from Around the World
Written on 1 Nov, 2014 at 18:15
It’s utterly amazing how this country has managed to adopt such a warped view of reverse mortgages. Somehow, we’ve managed to take a government insured mortgage that doesn’t require monthly payments and turn it into a bad thing. It... (Continue reading)
Future SHOCK for Older Homeowners: You Won’t Get a HELOC, a Second, or Refi based on your Equity
Written on 15 Oct, 2014 at 23:54
If you're over 62, you have to ask yourself what you'd do in the event your income dropped or your expenses rose unexpectedly? You could tap your savings, but that's not something you want to do because spending your nest... (Continue reading)
IF YOU’RE 62+ AND STILL PAYING A MORTGAGE… Here are 7 Reasons You Can End Up in Foreclosure and How to Protect Your Home Now
Written on 26 Aug, 2014 at 18:22
Now, I'm not saying that anyone should have known about any of this. The fact is that his article, and others I've written in the recent past, appear to be the first in the country to propose switching to... (Continue reading)
Major Media Misinforms, Scares Seniors on Reverse Mortgages
Written on 23 May, 2014 at 7:51
I can't help but wonder how many seniors have made less favorable decisions as a result of biased and wholly inaccurate reporting on reverse mortgages, but it's impossible for me to believe that it's not quite a few. How... (Continue reading)
Heirs of Reverse Mortgage Holders Should be Happy, Happy and Happy
Written on 11 Apr, 2014 at 5:09
The reverse mortgage is the only vehicle that allows the flexibility of repayment terms that includes no repayment at all until after the death of the second spouse. There's nothing else like the HECM reverse mortgage... we should all... (Continue reading)
HUD Revises the Rules Related to Reverse Mortgages
Written on 12 Sep, 2013 at 5:33
HUD's new rules related to reverse mortgages are just a part of those changes made in the wake of the financial crisis and resulting economic meltdown, and in fact, relative to changes made that affect other areas of mortgage finance,... (Continue reading)