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Here's a mortgage office I was working at Cold Calling and Closing deals.I saw an ad on craigslist and This company was going around making ...

With “Gray Divorce” on the Rise, Reverse Mortgage Lenders See Opportunity

On a recent webinar hosted by the National Reverse Mortgage Lenders Association, certified divorce financial advisor Diane Pappas laid out the potential reasons a recently-divorced spouse might use a HECM. More often than not, Pappas said, a late-in-life split disproportionately affects the wife, as women from older generations were less likely to work and involve themselves in household finances.

“She may never have worked,” Pappas said. “She may not even know what they have in terms of retirement money, or how much her husband earns. I run into this all the time.” 

And while divorces at any age create financial issues, Pappas — the principal at Solutions for Divorce, a consulting firm in Gloucester, Mass. — said older folks face unique challenges stemming from their shorter timelines.

“The fact that retirement is right around the corner makes it hard to make those kinds of adjustments,” Pappas said.

That’s especially true in the case of home ownership. In a typical divorce, Pappas said, spouses generally have three options for dealing with the former marital house: sell it, own it jointly, or buy out the other spouse. The second option, though, generally only works for younger couples with school-aged children; older people with grown kids have no reason to own a house together if they don’t even want to live together anymore.

Morning Coffee: The European bank that got burned for emulating Wall Street. The US IBD hiring City bankers despite ...

Let this be a warning to parochial European banks with aspirations to join what was once known as the U.S. ‘bulge bracket.’ – Don’t. Deutsche Bank tried, and is suffering the consequences.

Handelsblatt  has written a history of Deutsche Bank which outlines its undoing. The German paper’s English edition recalls how, back in the 1970s, Germany’s largest financial organization strayed from its domestic roots and made a play for a piece of Wall Street action. Deutsche wanted in on the derivatives market.  It expanded into London in 1976 and New York in ’79. Two decades later, it agreed to buy scandal-tarnished Bankers Trust.

In the process, Deutsche’s formerly conservative German bankers learned to love the high life of Wall Street. None was more dazzled than ex-Deutsche CEO Josef Ackermann, a flamboyant Swiss banker infamous for an outrageous promise that the bank would make a 25% return on investment and for flashing a Nixonian victory sign at the start of Germany’s biggest-ever corporate trial.

Is the housing market collapsing in the US?

Seems to be quite a bit about american sub-prime mortgage problems and US housing market over-supply in the specialist newspapers/magazines over here in the UK. Any views from the states?

i think my house is collapsing .

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