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  • 2010
    • January
      • Burn Books To Stay Warm
        01/05/10
        Some cash-strapped British pensioners are buying books from charity shops and burn them to keep warm as freezing temperatures gripped the UK, a London newspaper reported Tuesday.

        Workers at a charity shop in Swansea, in south Wales, told London newspaper Metro that pensioners were looking

      • More Cash in Your pocket
        01/04/10
        A reverse mortgage can put cash in your pocket. But anybody considering enrolling for a reverse home loan should comprehend that it is a rising debt loan. This is how reverse mortgages compare to normal home loans. Drawing on Home Equity A reverse loan permits you to convert home equity to cash. Whe

  • 2009
    • November
      • Should You Sell your house in place of getting a Reverse Mortgage?
        11/07/09
        Should You Sell your house in place of getting a Reverse Mortgage? Many house owners face a tough time selling their houses nowadays.

        But selling your home could help improve your monetary situation if your battling with house-related costs.

        These are some points to think abo

    • October
      • Reverse Mortgage May Stop Foreclosure
        10/11/09
        If you are facing repossession, coming up with a once a month home loan payment may appear an insurmountable problem, particularly if you are retired with limited cash coming in. The solution could be right in your house, thru the careful use of a reverse mortgage.
        Unlike a regular mortgage, w

      • A Grand Lady in Glendale
        10/04/09
        I was in Glendale California this week and met with a very nice 69 year young lady who told me about how she loves to travel and go to cultural events. She told me about her trip to Salzburg and how she went to the Symphony while there and many other trips she has been blessed to go on.

    • September
      • Home Values may Drop More
        09/11/09
        Some Senior homeowners are still waiting to get a reverse mortgage, that may not be a good idea. Check out this story on CNBC.com:

        Home prices in the US could fall by another 25 percent because of high unemployment and another leg down will come for stocks, banking analyst Meredith Whitn

      • Reverse Mortgages and Living Trusts
        09/07/09
        I get asked a lot of questions about how a Living Trust affects a Reverse Mortgage; I will try to simplify this issued and provide answers to the most common questions.
        First what is a Living Trust? Well Wikipedia has this to say: A living trust, or in Latin inter vivos trust (inter vivos is La

    • August
      • Consumer Reports
        08/24/09
        I just finished reading an article in Consumer Reports. The article is entitled “ Reversals of Fortune ” and is talking of course about reverse mortgages. The article is very in depth in some areas, but as typical in most newspapers and magazines there's a bit of sensationalism.

        Th

      • What Happens to the Creditline on Death
        08/24/09
        I received a question today that does come up alot. If you take out a Reverse Mortgage and leave money in the creditline what happens to that creditline if it has a positive balance when the borrower dies?

        The first thing you must remember is that the creditline is for the borrower only,

      • RECESSION HITS SENIORS
        08/04/09
        WHILE THE RECESSION Has not spared any age group, it has been especially savage for older USA citizens who were depending on their now shrunken nest eggs to last thru their retirement years. To bolster their stash, a rising number of seniors are turning to reverse mortgages, which function fundament

    • July
      • Another Reverse Mortgage Lender Closes
        07/30/09
        Well another reverse mortgage lender shuts it doors. The reverse mortgage business is tough for many lenders to make the profits they are looking for and have had to leave the industry. We at WSB Mortgage Services, Inc. made a decision a few years ago to represent several lenders so that we could

      • Congress May Keep Higher Limits
        07/26/09
        There is a Bill in Congress that will allow the current limit of $625,000 in home value to remain through 2010 instead of dropping back to $417,000 on January 1st 2010.

        Contact your Congressperson and Senator and let them know you are in favor of the higher limit, this will help seniors a

      • “Scrooged”
        07/16/09
        I was just thinking about the movie “Scrooged” with Bill Murray at the end of the movie where he talks about people not being able to make their miracle happen and that we can help these people make their miracle happen by just offering a little something that we may have.

        I feel that the

      • Check out our Squidoo!
        07/14/09
        WSB Squidoo

      • Reverse Mortgage for High Value Homes Almost Over
        07/12/09
        Come January 1st 2010 the limits on Home Equity Conversion Mortgages insured by FHA will be reduced to a maximum home value of $417,000. If a senior homeowner with a home value over $417,000 is thinking about getting a reverse mortgage this is the year to get it done. Waiting until 2010 could cost

      • Reverse Mortgage Video Diagram
        07/07/09
        Click here for a simple video on How a Reverse Mortgage Works .

      • Reverse Mortgage and Power of Attorney
        07/07/09
        Reverse mortgages can be complicated, but what if we have a borrower who is competent, yet can't sign the loan paperwork? What if the potential borrower has a degenerating health conditions like Alzheimer's?

        Most everyone to who is successful in the reverse mortgage industry ha

      • Happy Independence Day
        07/04/09
        http://www.history.com/minisite.do?cont

      • Reverse Mortgages and Living Trusts
        07/02/09
        Revocable living trusts are what HUD requires for reverse mortgages. Most should meet HUD guidelines and qualify for a reverse mortgage, but there are always exceptions to the rule. You need to submit the trust to your lender and title company right away so that they can confirm if the trust means

    • June
      • Reverse Mortgages Are Safe!
        06/29/09
        When you take out a reverse mortgage loan, you remain the owner of the property just as in any conventional mortgage keeping your title safely in your hands. You are still required to pay the property taxes, home-owner insurance and make any house maintenance.

        Reverse mortgages are also

      • The Pain of Waiting
        06/23/09
        I received a call from a senior woman from San Diego today asking about a reverse mortgage. First she was concerned about the fees involved with the process and how much she and her husband would have to come up with out of pocket. I explained each fee that would be incurred and how each might be

      • Reverse Mortgage Basic Training
        06/22/09
        The Home Equity Conversion Mortgage is FHA's reverse mortgage program that permits senior householders to convert the equity in their home into money or regular payments or a mix of both. Though no repayment is necessary as long as the home is the borrower's principal residence, there are

      • Forward or Reverse Mortgage?
        06/18/09
        As in all cases of fiscal lending, the pliability comes at a cost. To qualify for forward mortgage, you've got to have a steady source of revenue. As the mortgage is secured by the asset, if you welch on the payments, your home can be taken from you. As you clear the house, your equity is the d

      • Rising Debt, Falling Equity
        06/14/09
        As in all cases of monetary lending, the pliability comes at a cost.

        A reverse mortgage is a loan using your place and is known as a "rising debt, falling equity" sort of deal. To be accepted for forward mortgage, you've got to have a steady source of income. As the mortga

      • Letter to the Comptroller of the Currency
        06/12/09
        Ed Wood

        508 NW Lambrusco Drive phone: 772/785-6174

      • Protect yourself from what's coming!
        06/10/09
        With all the money the government is spending is a crash is coming?

        There are repercussions for the actions of today's government spending and it will most likely hurt you more than help you!

        As the government gives more and more money away the Dollar gets weaker and weake

      • Aging Baby Boomers Using Reverse Mortgage Loans (HECM)
        06/09/09



        As aging Baby Boomers enter retirement age and beyond, opportunities to serve this segment of the population have risen. People are living longer and have needed to make adjustments to their finances as they have exceeded their savings.

        A reverse mortgage gives a homeown

      • Reverse Mortgage Payment Option 1
        06/09/09
        Tenure. This is where the lender will make payments to you each month for as long as you live. If you like the security of having stable, steady monthly checks deposited in your bank account, monthly tenure payments is the way to go. The big advantages here is that you don't have to worry abo

      • Understanding Reverse Mortgages
        06/08/09
        People tend to shy away from the very idea of reverse mortgages, in part because of their former bad reputation and some current negative press. If you are one of the millions of people that are unfamiliar with real estate term and mortgage terms then it is easy to tune out any conversion that you

      • What would be required to do a reverse mortgage, if there is a revocable trust, the borrower is declared incompetent, the trustee is a third party, and an attorney is involved?
        06/08/09
        The title company would need to review the trust, any amendments, and restatements of the trust. Since the borrower is incompetent, the title company and lender may require 1-2 Doctors letters stating that the senior can no longer handle their financial affairs. It is required on the loan documents