Review Mortgage Lenders

1st Reverse Mortgage

1st Reverse Mortgage

Join us as we talk with Peggy Sage of 1st Reverse Mortgage

1st Reverse Mortgage USA Brings Reverse Mortgages to Forward Lending

I am glad to hear Dan Harder does not take educating his forward loan officers on the reverse mortgage product lightly!

I fear that many forward lenders and loan originators may want to diversify but are they willing to learn what the reverse mortgage part of lending is all about?

I am not just talking about learning how to take the loan application. I am talking about learning all about the products in side and out. I am talking about fully understanding the philosophy that must be taken toward our industry and our senior clientele!

Being able to work with seniors and having the passion and patients with them is not necessarily something you can be taught. This is something that has to be inside a person, something one has to feel in their heart!

Maybe I am living in the past but I know our seniors deserve the best we can give them and I will strive to seek those loan originators that have what it takes inside of them to do right by our seniors!

Will increased HECM claim amounts boost reverse mortgage production?

On Friday, the Federal Housing Administration announced an increase in the maximum claim amount for reverse mortgages in 2019, raising it more than $50,000 to $726,525.

The higher limit means that borrowers could potentially extract more of the equity in their homes using the government-insured HECM.

“We welcome the news that the HECM lending limits will be increasing in 2019,” the National Reverse Mortgage Lenders Association said in a statement.

Others in the industry looked favorably on the news, although some questioned how impactful higher limits would really be.

With the HECM market experiencing a significant downturn in 2018, will higher claim amounts really help the product pick up some of the volume it lost after changes made on October 2, 2017?

“I can’t see this change having a significant impact on future volume,” said Mike Gruley of 1st Nations Reverse Mortgage

My deceased father has a reverse mortgage - the amount owed is less than the value of the property?

I would like to take out a mortgage to repay reverse mortgage. Do I have to take out mortgage for value property or just what's owed on the reverse mortgage? I'm 1 of 3 heirs and we are to divide the assets equally. But the only asset is the house.

You would need to pay off all liens on the property, before you can transfer it into your names. A mortgage is a lien.

Harp Replacement
Refi Rate Guide - Your Refinance Guide
Express Mortgage Quotes
College Allstar - Independence University
Choose Your Education
Horsefarm DE