NFE/1.0 http://www.reversemortgageloansflorida.net/Blog.aspx en loans@reversemortgageloansflorida.net (Bill Kennedy) 2007 HomeXperts Thu, 27 Dec 2007 18:00:00 GMT Tue, 17 Mar 2009 15:00:00 GMT 2009-03-17T15:00:00Z http://www.reversemortgageloansflorida.net/images/Florida/LogoFlorida.jpg http://www.reversemortgageloansflorida.net/Blog.aspx We discuss the latest news and commentary about reverse mortgage loans from Florida. http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2009&title=Who_can_get_a_low_rate_mortgage_these_days http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2009&title=Who_can_get_a_low_rate_mortgage_these_days Tue, 17 Mar 2009 15:00:00 GMT Jennifer Segovia 2009-03-17T15:00:00Z 2009-03-17T15:00:00Z How many people are actually benefiting from fixed-rate mortgages advertised at 5.5% or less? It’s possible to get a rate that low if you put down 20%... http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2009&title=Making_Home_Affordable_Requirements http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2009&title=Making_Home_Affordable_Requirements Mon, 09 Mar 2009 15:00:00 GMT Jennifer Segovia 2009-03-09T15:00:00Z 2009-03-09T15:00:00Z The $275 billion housing stimulus, “Making Home Affordable” is targeted at the 1 in 5 US homeowners who are underwater in their mortgage. http://www.reversemortgageloansflorida.net/Blog.aspx?date=February_2009&title=Hope_for_Homeowners_in_Distress http://www.reversemortgageloansflorida.net/Blog.aspx?date=February_2009&title=Hope_for_Homeowners_in_Distress Wed, 18 Feb 2008 15:00:00 GMT Jennifer Segovia 2009-02-18T15:00:00Z 2009-02-18T15:00:00Z Great news for homeowners in distress- President Obama will unveil a $75 billion foreclosure prevention program in hopes of reaching up to 9 million homeowners http://www.reversemortgageloansflorida.net/Blog.aspx?date=February_2009&title=Who_will_pay_back_my_reverse_mortgage_loan http://www.reversemortgageloansflorida.net/Blog.aspx?date=February_2009&title=Who_will_pay_back_my_reverse_mortgage_loan Tue, 10 Feb 2008 15:00:00 GMT Jennifer Segovia 2009-02-10T15:00:00Z 2009-02-10T15:00:00Z There is a gray area about reverse mortgages which probably scare some seniors from even taking it into consideration as a viable financial option. Once seniors realize that a reverse mortgage loan is a debt, one common question we receive is: When do you pay the loan back? http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2009&title=Reverse_Mortgages_are_a_great_option_for_cash_strapped_seniors http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2009&title=Reverse_Mortgages_are_a_great_option_for_cash_strapped_seniors Wed, 28 Jan 2008 15:00:00 GMT Jennifer Segovia 2009-01-28T15:00:00Z 2009-01-28T15:00:00Z Reverse Mortgages have been steadily rising over the past few years – doubling every year for the last three to four years. In November, housing legislation cut fees on reverse mortgages while raising the amount homeowners can borrow against, which is now $417,000 nationwide. http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2009&title=Are_loan_modifications_enough http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2009&title=Are_loan_modifications_enough Mon, 19 Jan 2008 15:00:00 GMT Jennifer Segovia 2009-01-19T15:00:00Z 2009-01-19T15:00:00Z Regulators are having trouble stemming the flood of foreclosures especially in South Florida, where debt often exceeds the home’s worth. Many programs have been created to help homeowners get into loans with more favorable terms, but only a small percentage of struggling homeowners have received help. http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2009&title=Will_2009_be_worse_that_last_year http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2009&title=Will_2009_be_worse_that_last_year Fri, 09 Jan 2008 15:00:00 GMT Jennifer Segovia 2009-01-09T15:00:00Z 2009-01-09T15:00:00Z Analysts who said the current economic crisis would take a turn for the better in 2009 were sadly mistaken. Unfortunately 2008 was not the tip of the iceberg, as a matter of fact; experts are saying things will get much worse before they get better. http://www.reversemortgageloansflorida.net/Blog.aspx?date=December_2008&title=Great_New_Year_for_seniors http://www.reversemortgageloansflorida.net/Blog.aspx?date=December_2008&title=Great_New_Year_for_seniors Wed, 17 Dec 2008 15:00:00 GMT Jennifer Segovia 2008-12-17T15:00:00Z 2008-12-17T15:00:00Z Great news to start off the New Year: beginning January 1, 2009, the FHA will begin to insure reverse mortgage loans for purchases. What does this mean for seniors age 62 and over? http://www.reversemortgageloansflorida.net/Blog.aspx?date=December_2008&title=Fannie_and_Freddie_need_a_makeover http://www.reversemortgageloansflorida.net/Blog.aspx?date=December_2008&title=Fannie_and_Freddie_need_a_makeover Mon, 01 Dec 2008 15:00:00 GMT Jennifer Segovia 2008-12-01T15:00:00Z 2008-12-01T15:00:00Z Government backed buyer on home loans Fannie Mae was created in 1938 as a response to the Great Depression. Freddie Mac was formed later, in 1970 and both were seized by regulators on Sept. 6 2008. It’s clear that what may have worked in the 1930s as a remedy to the Great Depression has not been working in 2008 during this recession. http://www.reversemortgageloansflorida.net/Blog.aspx?date=November_2008&title=Over_12_million_homes_have_negative_equity http://www.reversemortgageloansflorida.net/Blog.aspx?date=November_2008&title=Over_12_million_homes_have_negative_equity Tue, 18 Nov 2008 15:00:00 GMT Jennifer Segovia 2008-11-18T15:00:00Z 2008-11-18T15:00:00Z There are over 12 million homeowners in the US that have mortgage debt which exceeds the value of their homes. Mortgage defaults continue to rise rapidly, and in some cases the borrower can still afford to make payments, but chooses not to because the value of their home has dropped dramatically. http://www.reversemortgageloansflorida.net/Blog.aspx?date=November_2008&title=How_are_the_new_mortgage_rules_aimed_at_helping_consumers_going_to_save_them_money http://www.reversemortgageloansflorida.net/Blog.aspx?date=November_2008&title=How_are_the_new_mortgage_rules_aimed_at_helping_consumers_going_to_save_them_money Tue, 12 Nov 2008 15:00:00 GMT Jennifer Segovia 2008-11-12T15:00:00Z 2008-11-12T15:00:00Z The final version of the new mortgage rules from the Department of Housing and Urban Development is designed to help consumers shop for mortgages more effectively by helping them compare terms on loans and limit the ability of lenders to offer final terms that are far different from initial estimates. http://www.reversemortgageloansflorida.net/Blog.aspx?date=November_2008&title=Mortgage_rates_up_applications_down http://www.reversemortgageloansflorida.net/Blog.aspx?date=November_2008&title=Mortgage_rates_up_applications_down Wed, 05 Nov 2008 15:00:00 GMT Jennifer Segovia 2008-11-05T15:00:00Z 2008-11-05T15:00:00Z The connection between mortgage rates and mortgage applications are pretty obvious by now. It seems as though whenever mortgage rates rise, mortgage applications drop. http://www.reversemortgageloansflorida.net/Blog.aspx?date=October_2008&title=Bailout_money_used_for_buying_new_stocks http://www.reversemortgageloansflorida.net/Blog.aspx?date=October_2008&title=Bailout_money_used_for_buying_new_stocks Wed, 29 Oct 2008 15:00:00 GMT Jennifer Segovia 2008-10-29T15:00:00Z 2008-10-29T15:00:00Z Of the $700 billion financial-rescue plan enacted last month, Treasury Secretary Henry Paulson abruptly diverted $250 billion of the plan to buy stock in healthy banks. Though this plan may eventually help thaw the credit markets and achieve stability among banks, homeowners are being left in the cold. http://www.reversemortgageloansflorida.net/Blog.aspx?date=October_2008&title=Reverse_Mortgage_will_benefit_seniors_even_more http://www.reversemortgageloansflorida.net/Blog.aspx?date=October_2008&title=Reverse_Mortgage_will_benefit_seniors_even_more Thu, 23 Oct 2008 15:00:00 GMT Jennifer Segovia 2008-10-23T15:00:00Z 2008-10-23T15:00:00Z Great news for seniors who are looking into, or already have a reverse mortgage loan. For one, HECMS, or Home Equity Conversion Mortgages insured by the Department of Housing and Urban Development now have a common ceiling of $417,000 regardless of where the home is located. http://www.reversemortgageloansflorida.net/Blog.aspx?date=October_2008&title=Housing_cycle_continues http://www.reversemortgageloansflorida.net/Blog.aspx?date=October_2008&title=Housing_cycle_continues Thu, 16 Oct 2008 15:00:00 GMT Jennifer Segovia 2008-10-16T15:00:00Z 2008-10-16T15:00:00Z The housing cycle continues, especially in the hardest-hit areas like California, Florida, and Arizona: “more and more homes are going up for sale, but fewer and fewer people are willing or able to buy them.” http://www.reversemortgageloansflorida.net/Blog.aspx?date=October_2008&title=Did_we_really_need_government_intervention http://www.reversemortgageloansflorida.net/Blog.aspx?date=October_2008&title=Did_we_really_need_government_intervention Wed, 08 Oct 2008 15:00:00 GMT Jennifer Segovia 2008-10-08T15:00:00Z 2008-10-08T15:00:00Z Our economic situation is direr than some may think and those who borrowed almost any kind of money from banks during 2001-2007 will surely feel the pain. According to Zillow, home prices have continued to spiral downward for the past two years and have reached the point where 29% of all households that purchased in the last five years owe more than their house is worth. http://www.reversemortgageloansflorida.net/Blog.aspx?date=October_2008&title=Seniors_beware_of_reverse_mortgage_fraud http://www.reversemortgageloansflorida.net/Blog.aspx?date=October_2008&title=Seniors_beware_of_reverse_mortgage_fraud Tue, 03 Oct 2008 15:00:00 GMT Jennifer Segovia 2008-10-03T15:00:00Z 2008-10-03T15:00:00Z Mortgage fraud has been an underlying cause of many good deals gone badly, and reverse mortgage fraud is no better. http://www.reversemortgageloansflorida.net/Blog.aspx?date=September_2008&title=Is_Paulsons_Bill_the_only_way_out http://www.reversemortgageloansflorida.net/Blog.aspx?date=September_2008&title=Is_Paulsons_Bill_the_only_way_out Tue, 23 Sep 2008 15:00:00 GMT Jennifer Segovia 2008-09-23T15:00:00Z 2008-09-23T15:00:00Z In an effort to boost lending, the Bush administration asked Congress for unchecked power to buy $700 billion in bad mortgage investments like home loans, mortgage-backed securities, commercial mortgage-related assets, and others from US financial companies. http://www.reversemortgageloansflorida.net/Blog.aspx?date=September_2008&title=Government_takeover_of_Fannie_and_Freddie_not_a_cure http://www.reversemortgageloansflorida.net/Blog.aspx?date=September_2008&title=Government_takeover_of_Fannie_and_Freddie_not_a_cure Tue, 16 Sep 2008 15:00:00 GMT Jennifer Segovia 2008-09-16T15:00:00Z 2008-09-16T15:00:00Z By now, almost everyone has heard of the government’s takeover of Fannie Mae and Freddie Mac. But one thing almost everyone is unsure of is: how will this move improve the housing market? http://www.reversemortgageloansflorida.net/Blog.aspx?date=September_2008&title=Foreclosures_break_yet_another_record http://www.reversemortgageloansflorida.net/Blog.aspx?date=September_2008&title=Foreclosures_break_yet_another_record Mon, 08 Sep 2008 15:00:00 GMT Jennifer Segovia 2008-09-08T15:00:00Z 2008-09-08T15:00:00Z The current housing and mortgage crisis has had a reputation of exceeding many people’s expectations and continues to worsen despite many projections that the end of 2008 would be the light at the end of what has been the worst housing market since the Great Depression. http://www.reversemortgageloansflorida.net/Blog.aspx?date=September_2008&title=Sellers_regret http://www.reversemortgageloansflorida.net/Blog.aspx?date=September_2008&title=Sellers_regret Tue, 02 Sep 2008 15:00:00 GMT Jennifer Segovia 2008-09-02T15:00:00Z 2008-09-02T15:00:00Z Seller’s regret or flashbacks to offers past is a new condition which is a result of the past culture of constantly rising real estate value and prices. http://www.reversemortgageloansflorida.net/Blog.aspx?date=August_2008&title=Mortgage_applications_down_to_lowest_level_in_almost_eight_years http://www.reversemortgageloansflorida.net/Blog.aspx?date=August_2008&title=Mortgage_applications_down_to_lowest_level_in_almost_eight_years Thu, 21 Aug 2008 15:00:00 GMT Jennifer Segovia 2008-08-21T15:00:00Z 2008-08-21T15:00:00Z Yesterday, the Mortgage Bankers Association reported that mortgage application volume fell last week to its lowest levels in almost eight years. This data supports the fact that the housing market is still struggling and fewer customers are applying for mortgages. http://www.reversemortgageloansflorida.net/Blog.aspx?date=August_2008&title=Jobless_rate_shows_economy_still_weak http://www.reversemortgageloansflorida.net/Blog.aspx?date=August_2008&title=Jobless_rate_shows_economy_still_weak Wed, 20 Aug 2008 15:00:00 GMT Jennifer Segovia 2008-08-20T15:00:00Z 2008-08-20T15:00:00Z The four week average of initial jobless claims increased by 19,500 to 440,500 in the second week of August, which is the highest since April 2002. http://www.reversemortgageloansflorida.net/Blog.aspx?date=August_2008&title=Some_seniors_not_ready_to_retire http://www.reversemortgageloansflorida.net/Blog.aspx?date=August_2008&title=Some_seniors_not_ready_to_retire Tue, 12 Aug 2008 15:00:00 GMT Jennifer Segovia 2008-08-12T15:00:00Z 2008-08-12T15:00:00Z According to the Centers for Disease Control and Prevention, an American born in 1950 was expected to live to be 68 years old while the average person born in 2005 will live to be almost 78. http://www.reversemortgageloansflorida.net/Blog.aspx?date=August_2008&title=Have_your_own_people_when_applying_for_a_reverse_mortgage http://www.reversemortgageloansflorida.net/Blog.aspx?date=August_2008&title=Have_your_own_people_when_applying_for_a_reverse_mortgage Mon, 11 Aug 2008 15:00:00 GMT Jennifer Segovia 2008-08-11T15:00:00Z 2008-08-11T15:00:00Z When shopping for a reverse mortgage loan it is important to be fully aware of everything that is presented and also to choose your lender carefully. Some lenders stay tight-lipped and don’t fully disclose fees and terms. http://www.reversemortgageloansflorida.net/Blog.aspx?date=August_2008&title=Lenders_tightened_rules_too_much http://www.reversemortgageloansflorida.net/Blog.aspx?date=August_2008&title=Lenders_tightened_rules_too_much Fri, 08 Aug 2008 15:00:00 GMT Jennifer Segovia 2008-08-08T15:00:00Z 2008-08-08T15:00:00Z It seems that lenders have tightened their rules too much. From a time when they didn’t verify employment or income, today even a borrower with excellent credit may have a hard time getting financing. http://www.reversemortgageloansflorida.net/Blog.aspx?date=August_2008&title=Another_cost_will_keep_borrowers_away http://www.reversemortgageloansflorida.net/Blog.aspx?date=August_2008&title=Another_cost_will_keep_borrowers_away Thu, 07 Aug 2008 15:00:00 GMT Jennifer Segovia 2008-08-07T15:00:00Z 2008-08-07T15:00:00Z The latest change for borrowers in this market is that the cost of their loan may increase. Fannie Mae will raise a fee it charges lenders to buy their mortgages or guarantee home-loan securities, and in turn this may increase costs for borrowers. http://www.reversemortgageloansflorida.net/Blog.aspx?date=August_2008&title=Are_there_any_other_options_for_seniors_besides_a_reverse_mortgage http://www.reversemortgageloansflorida.net/Blog.aspx?date=August_2008&title=Are_there_any_other_options_for_seniors_besides_a_reverse_mortgage Wed, 06 Aug 2008 15:00:00 GMT Jennifer Segovia 2008-08-06T15:00:00Z 2008-08-06T15:00:00Z Some seniors just don’t want to get into any debt during their golden years and a reverse mortgage loan is, in fact, a debt. http://www.reversemortgageloansflorida.net/Blog.aspx?date=August_2008&title=Seniors_who_cant_sell_still_have_options http://www.reversemortgageloansflorida.net/Blog.aspx?date=August_2008&title=Seniors_who_cant_sell_still_have_options Tue, 05 Aug 2008 15:00:00 GMT Jennifer Segovia 2008-08-05T15:00:00Z 2008-08-05T15:00:00Z Seniors who can’t keep up with the high cost of living must be in a very tough situation, especially if they are on a fixed income. If you can’t afford to live in your house anymore or you need to supplement your cash flow, you can consider a reverse mortgage. http://www.reversemortgageloansflorida.net/Blog.aspx?date=August_2008&title=July_marks_seventh_straight_month_in_job_cuts http://www.reversemortgageloansflorida.net/Blog.aspx?date=August_2008&title=July_marks_seventh_straight_month_in_job_cuts Mon, 04 Aug 2008 15:00:00 GMT Jennifer Segovia 2008-08-04T15:00:00Z 2008-08-04T15:00:00Z So far this year, the economy has lost a total of 463,000 jobs and July is no different, it marks the seventh straight month where employers eliminated jobs. http://www.reversemortgageloansflorida.net/Blog.aspx?date=August_2008&title=Seniors_should_you_sell_or_stay http://www.reversemortgageloansflorida.net/Blog.aspx?date=August_2008&title=Seniors_should_you_sell_or_stay Fri, 01 Aug 2008 15:00:00 GMT Jennifer Segovia 2008-08-01T15:00:00Z 2008-08-01T15:00:00Z If you are in a tight financial situation and are on a fixed income, your choices of making more money are somewhat limited. One way to see if you can live more comfortably is by answering the following questions. http://www.reversemortgageloansflorida.net/Blog.aspx?date=July_2008&title=Reverse_mortgage_improvements http://www.reversemortgageloansflorida.net/Blog.aspx?date=July_2008&title=Reverse_mortgage_improvements Thu, 31 Jul 2008 15:00:00 GMT Jennifer Segovia 2008-07-31T15:00:00Z 2008-07-31T15:00:00Z If you are thinking of a reverse mortgage, then you will be happy to hear that there are many improvements being made to the government-sponsored program. These changes are only for FHA-insured Home Equity Conversion Mortgage (HECM) program, and will take approximately 60-90 days to implement. http://www.reversemortgageloansflorida.net/Blog.aspx?date=July_2008&title=Housing_bill_on_its_way_to_White_House http://www.reversemortgageloansflorida.net/Blog.aspx?date=July_2008&title=Housing_bill_on_its_way_to_White_House Wed, 30 Jul 2008 15:00:00 GMT Jennifer Segovia 2008-07-30T15:00:00Z 2008-07-30T15:00:00Z The Foreclosure Prevention Act of 2008 is on its way to the White House for its final passing. It won final approval in Congress on July 23rd and will hopefully go into effect soon, as President Bush has said he will sign. http://www.reversemortgageloansflorida.net/Blog.aspx?date=July_2008&title=Lenders_requiring_money_down_to_buy_home http://www.reversemortgageloansflorida.net/Blog.aspx?date=July_2008&title=Lenders_requiring_money_down_to_buy_home Mon, 28 Jul 2008 15:00:00 GMT Jennifer Segovia 2008-07-28T15:00:00Z 2008-07-28T15:00:00Z Although today’s real estate market is a Buyer’s market, it most certainly is not a borrower’s market. With the excess inventory of homes for sale, it’s too bad that it isn’t that easy to buy a home unless you have a down payment of 10% or more ready. http://www.reversemortgageloansflorida.net/Blog.aspx?date=July_2008&title=Reverse_mortgage_lenders_pay_you_to_stay_in_your_home http://www.reversemortgageloansflorida.net/Blog.aspx?date=July_2008&title=Reverse_mortgage_lenders_pay_you_to_stay_in_your_home Thu, 24 Jul 2008 15:00:00 GMT Jennifer Segovia 2008-07-24T15:00:00Z 2008-07-24T15:00:00Z There are many different benefits to a reverse mortgage. First and foremost, you get money from the equity you have built in your home to use however you please. http://www.reversemortgageloansflorida.net/Blog.aspx?date=July_2008&title=No_end_in_sight_for_economic_slowdown http://www.reversemortgageloansflorida.net/Blog.aspx?date=July_2008&title=No_end_in_sight_for_economic_slowdown Wed, 23 Jul 2008 15:00:00 GMT Jennifer Segovia 2008-07-23T15:00:00Z 2008-07-23T15:00:00Z Expect the unemployment rate to rise as Wachovia announced that it is cutting 10,750 jobs as a result of a net loss of $8.86 billion in the second quarter. http://www.reversemortgageloansflorida.net/Blog.aspx?date=July_2008&title=Lenders_standards_are_getting_higher http://www.reversemortgageloansflorida.net/Blog.aspx?date=July_2008&title=Lenders_standards_are_getting_higher Tue, 22 Jul 2008 15:00:00 GMT Jennifer Segovia 2008-07-22T15:00:00Z 2008-07-22T15:00:00Z The housing and mortgage crisis has been responsible for many changes going on in the economy. As early as a few months ago, borrowers with a FICO score of 700 were usually eligible for the lowest mortgage rates. http://www.reversemortgageloansflorida.net/Blog.aspx?date=July_2008&title=Fannie_and_Freddie_are_crucial_to_market_recovery http://www.reversemortgageloansflorida.net/Blog.aspx?date=July_2008&title=Fannie_and_Freddie_are_crucial_to_market_recovery Mon, 21 Jul 2008 15:00:00 GMT Jennifer Segovia 2008-07-21T15:00:00Z 2008-07-21T15:00:00Z It was announced early last week that the Treasury Department and Federal Reserve plans to take steps to make funds available to Fannie Mae and Freddie Mac if necessary. http://www.reversemortgageloansflorida.net/Blog.aspx?date=July_2008&title=Bernanke_urged_to_implement_new_changes http://www.reversemortgageloansflorida.net/Blog.aspx?date=July_2008&title=Bernanke_urged_to_implement_new_changes Fri, 11 Jul 2008 15:00:00 GMT Jennifer Segovia 2008-07-11T15:00:00Z 2008-07-11T15:00:00Z Federal Reserve Chairman Ben Bernanke was urged by the US Treasury Secretary to overhaul the regulatory structure of the financial markets. http://www.reversemortgageloansflorida.net/Blog.aspx?date=July_2008&title=Some_foreclosures_are_preventable http://www.reversemortgageloansflorida.net/Blog.aspx?date=July_2008&title=Some_foreclosures_are_preventable Wed, 09 Jul 2008 15:00:00 GMT Jennifer Segovia 2008-07-09T15:00:00Z 2008-07-09T15:00:00Z According to Treasury Secretary Henry Paulson, many foreclosures can’t be prevented. In addition to lax lending standards that accompanied the housing boom which allowed people to buy homes they could not afford. http://www.reversemortgageloansflorida.net/Blog.aspx?date=July_2008&title=Emergency_Housing_Bill_delayed http://www.reversemortgageloansflorida.net/Blog.aspx?date=July_2008&title=Emergency_Housing_Bill_delayed Tue, 08 Jul 2008 15:00:00 GMT Jennifer Segovia 2008-07-08T15:00:00Z 2008-07-08T15:00:00Z The proposed emergency housing bill intended to help as many as 50,000 homeowners on the brink of foreclosure to renegotiate their mortgages has been delayed and may be weeks away from passage. http://www.reversemortgageloansflorida.net/Blog.aspx?date=July_2008&title=States_raising_taxes_to_replenish_treasury http://www.reversemortgageloansflorida.net/Blog.aspx?date=July_2008&title=States_raising_taxes_to_replenish_treasury Mon, 07 Jul 2008 15:00:00 GMT Jennifer Segovia 2008-07-07T15:00:00Z 2008-07-07T15:00:00Z With record numbers of home foreclosures, gasoline prices and a downward slide in unemployment, it’s no wonder lawmakers are uneasy over finances. Unfortunately this means that they are shying away from major expansions of public-health insurance programs and free preschool classes. http://www.reversemortgageloansflorida.net/Blog.aspx?date=July_2008&title=Seniors_can_enjoy_retirement_without_monthly_mortgage_payment http://www.reversemortgageloansflorida.net/Blog.aspx?date=July_2008&title=Seniors_can_enjoy_retirement_without_monthly_mortgage_payment Wed, 02 Jul 2008 15:00:00 GMT Jennifer Segovia 2008-07-02T15:00:00Z 2008-07-02T15:00:00Z Reverse mortgages have been around for a long time, since 1988 to be exact, when Ronald Reagan signed the bill authorizing HUD to insure reverse mortgage through the FHA. http://www.reversemortgageloansflorida.net/Blog.aspx?date=June_2008&title=No_laws_protecting_renters http://www.reversemortgageloansflorida.net/Blog.aspx?date=June_2008&title=No_laws_protecting_renters Mon, 30 Jun 2008 15:00:00 GMT Jennifer Segovia 2008-06-30T15:00:00Z 2008-06-30T15:00:00Z Renters are deeply affected by this mortgage crisis. While homeowners are having trouble making their monthly mortgage payments, one extra source of income is from their renters. http://www.reversemortgageloansflorida.net/Blog.aspx?date=June_2008&title=Baby_boomers_helping_out_younger_generation_too_much http://www.reversemortgageloansflorida.net/Blog.aspx?date=June_2008&title=Baby_boomers_helping_out_younger_generation_too_much Thu, 26 Jun 2008 15:00:00 GMT Jennifer Segovia 2008-06-26T15:00:00Z 2008-06-26T15:00:00Z Older baby boomers were able to get out of debt very quickly in the ‘70s, as they lived through an era of high inflation when property values and wages grew very quickly, doubling about every 7 years. To think that today’s average salary will double in the next 7 years sounds a little exaggerated. http://www.reversemortgageloansflorida.net/Blog.aspx?date=June_2008&title=Housing_situation_not_even_halfway_over http://www.reversemortgageloansflorida.net/Blog.aspx?date=June_2008&title=Housing_situation_not_even_halfway_over Wed, 25 Jun 2008 15:00:00 GMT Jennifer Segovia 2008-06-25T15:00:00Z 2008-06-25T15:00:00Z It seems that every day there is another news story that reports a different view on the housing market. In article from Reuters David Lowman, chief executive officer of home lending at JPMorgan Chase, states that the downturn of the housing and mortgage market has yet to reach its midpoint. http://www.reversemortgageloansflorida.net/Blog.aspx?date=June_2008&title=Easy_mortgage_contributing_to_artificial_demand http://www.reversemortgageloansflorida.net/Blog.aspx?date=June_2008&title=Easy_mortgage_contributing_to_artificial_demand Tue, 24 Jun 2008 15:00:00 GMT Jennifer Segovia 2008-06-24T15:00:00Z 2008-06-24T15:00:00Z It is well known that the terrible status of the mortgage market today can be mostly blamed on lenders practically giving away loans to ineligible borrowers. During the housing boom, a first time buyer could easily buy a home with no money down. http://www.reversemortgageloansflorida.net/Blog.aspx?date=June_2008&title=Interest_rates_on_the_rise http://www.reversemortgageloansflorida.net/Blog.aspx?date=June_2008&title=Interest_rates_on_the_rise Mon, 23 Jun 2008 15:00:00 GMT Jennifer Segovia 2008-06-23T15:00:00Z 2008-06-23T15:00:00Z If the housing market is still full of excess inventory and the number of foreclosures is still rising, then why are the mortgage interest rates rising too? How are buyers supposed to relieve the surplus of homes when the interest rates are so discouraging? http://www.reversemortgageloansflorida.net/Blog.aspx?date=June_2008&title=Leave_something_extra_for_your_heirs_with_a_reverse_mortgage http://www.reversemortgageloansflorida.net/Blog.aspx?date=June_2008&title=Leave_something_extra_for_your_heirs_with_a_reverse_mortgage Fri, 20 Jun 2008 15:00:00 GMT Jennifer Segovia 2008-06-20T15:00:00Z 2008-06-20T15:00:00Z One reason why some seniors choose not to take out a reverse mortgage is because they want to leave their home for their heirs. With a reverse mortgage, the house is sold by the bank once the last remaining borrower dies. http://www.reversemortgageloansflorida.net/Blog.aspx?date=June_2008&title=What_are_our_countrys_top_officials_doing_to_help_the_mortgage_crisis http://www.reversemortgageloansflorida.net/Blog.aspx?date=June_2008&title=What_are_our_countrys_top_officials_doing_to_help_the_mortgage_crisis Thu, 19 Jun 2008 15:00:00 GMT Jennifer Segovia 2008-06-19T15:00:00Z 2008-06-19T15:00:00Z Well, Connecticut Senator Christopher Dodd’s plan allows mortgage lenders to dump up to $300 billion of their worst loans on to taxpayers. This would be done via a new Federal Housing Administration refinancing program. http://www.reversemortgageloansflorida.net/Blog.aspx?date=June_2008&title=Mortgage_brokers_vs_mortgage_bankers http://www.reversemortgageloansflorida.net/Blog.aspx?date=June_2008&title=Mortgage_brokers_vs_mortgage_bankers Wed, 18 Jun 2008 15:00:00 GMT Jennifer Segovia 2008-06-18T15:00:00Z 2008-06-18T15:00:00Z The chief economist for the National Association of Realtors said that by 2013, home prices in South Florida could be 20% to 30% higher. He called Florida’s property market turmoil a ‘short-term slump’ due in part from a short term over supply. http://www.reversemortgageloansflorida.net/Blog.aspx?date=June_2008&title=Mortgage_brokers_vs_mortgage_bankers http://www.reversemortgageloansflorida.net/Blog.aspx?date=June_2008&title=Mortgage_brokers_vs_mortgage_bankers Thu, 12 Jun 2008 15:00:00 GMT Jennifer Segovia 2008-06-12T15:00:00Z 2008-06-12T15:00:00Z How are mortgage brokers different from mortgage bankers? For one, mortgage bankers have direct access to their company’s funds. For example, a mortgage banker could be one that represents Goldman Sachs and can strike a deal with the borrower but only with funds from his or her lender. http://www.reversemortgageloansflorida.net/Blog.aspx?date=June_2008&title=Selling_a_home_while_saving_and_getting_maximum_exposure http://www.reversemortgageloansflorida.net/Blog.aspx?date=June_2008&title=Selling_a_home_while_saving_and_getting_maximum_exposure Wed, 11 Jun 2008 15:00:00 GMT Jennifer Segovia 2008-06-11T15:00:00Z 2008-06-11T15:00:00Z When it comes to selling real estate we now have many different ways of doing it. You can choose the traditional way where you hire an agent and at the time of sale they collect a 6% commission or a model where you can save thousands in commissions. http://www.reversemortgageloansflorida.net/Blog.aspx?date=June_2008&title=Is_a_jumbo_reverse_mortgage_right_for_you http://www.reversemortgageloansflorida.net/Blog.aspx?date=June_2008&title=Is_a_jumbo_reverse_mortgage_right_for_you Tue, 10 Jun 2008 15:00:00 GMT Jennifer Segovia 2008-06-10T15:00:00Z 2008-06-10T15:00:00Z At least 90% of reverse mortgages are the Federal Housing Administration’s government insured Home Equity Conversion Mortgage (HECM). The other 10% are jumbo or proprietary reverse mortgages, which are not backed by the FHA. http://www.reversemortgageloansflorida.net/Blog.aspx?date=June_2008&title=Get_professional_advice_before_signing_any_papers http://www.reversemortgageloansflorida.net/Blog.aspx?date=June_2008&title=Get_professional_advice_before_signing_any_papers Mon, 09 Jun 2008 15:00:00 GMT Jennifer Segovia 2008-06-09T15:00:00Z 2008-06-09T15:00:00Z If you are seriously thinking about a reverse mortgage, it is important to talk to family, friends, and a financial advisor about it. If you are married, it may be a good idea to make sure that both you and your spouse are listed on the deed. http://www.reversemortgageloansflorida.net/Blog.aspx?date=June_2008&title=Unemployment_rate_not_a_good_sign_for_economy http://www.reversemortgageloansflorida.net/Blog.aspx?date=June_2008&title=Unemployment_rate_not_a_good_sign_for_economy Fri, 06 Jun 2008 15:00:00 GMT Jennifer Segovia 2008-06-06T15:00:00Z 2008-06-06T15:00:00Z It is unsettling to hear that in May alone, nervous employers cut 49,000 jobs. The unemployment rate soared from 5% in April to 5.5% in May, which is the biggest one month jump in the rate since February 1986. http://www.reversemortgageloansflorida.net/Blog.aspx?date=June_2008&title=Why_are_some_homeowners_able_to_fix_their_loans_and_others_are_not http://www.reversemortgageloansflorida.net/Blog.aspx?date=June_2008&title=Why_are_some_homeowners_able_to_fix_their_loans_and_others_are_not Thu, 05 Jun 2008 15:00:00 GMT Jennifer Segovia 2008-06-05T15:00:00Z 2008-06-05T15:00:00Z Everyday struggling homeowners call the foreclosure Help Hotline for advice on how to save their homes and avoid foreclosure. The next step is called the foreclosure prevention process. http://www.reversemortgageloansflorida.net/Blog.aspx?date=June_2008&title=Is_reverse_mortgage_permanent http://www.reversemortgageloansflorida.net/Blog.aspx?date=June_2008&title=Is_reverse_mortgage_permanent Wed, 04 Jun 2008 15:00:00 GMT Jennifer Segovia 2008-06-04T15:00:00Z 2008-06-04T15:00:00Z It’s a hard decision to commit to a reverse mortgage because after you sign the papers, there really is no going back. It is possible to refinance a reverse mortgage loan, but once you borrow against the equity in your home, the only way for your house to earn more equity is by appreciation, which is not a factor in anyone’s control. http://www.reversemortgageloansflorida.net/Blog.aspx?date=June_2008&title=Renters_are_victims_of_foreclosure_too http://www.reversemortgageloansflorida.net/Blog.aspx?date=June_2008&title=Renters_are_victims_of_foreclosure_too Tue, 03 Jun 2008 15:00:00 GMT Jennifer Segovia 2008-06-03T15:00:00Z 2008-06-03T15:00:00Z As we already know, this housing slump is affecting everyone in different ways. Whether it is a homeowner going into foreclosure, mortgage brokers out of work, or home values dropping drastically, everyone is sharing the pain. http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=Use_reverse_mortgage_to_pay_off_debt http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=Use_reverse_mortgage_to_pay_off_debt Mon, 02 Jun 2008 15:00:00 GMT Jennifer Segovia 2008-06-02T15:00:00Z 2008-06-02T15:00:00Z In March, the Federal Reserve reported that consumers had a record $957 billion of credit-card and other types of revolving debt outstanding, which is up about 8% from a year earlier. http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=Will_Bush_veto_the_Foreclosure_Prevention_Act http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=Will_Bush_veto_the_Foreclosure_Prevention_Act Thu, 29 May 2008 15:00:00 GMT Jennifer Segovia 2008-05-29T15:00:00Z 2008-05-29T15:00:00Z The House recently approved the American Housing Rescue and Foreclosure Prevention Act. The bill fell short of the margin needed (the vote was 266-154) to override President Bush’s threat to veto the bill. http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=Housing_prices_still_declining http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=Housing_prices_still_declining Wed, 28 May 2008 15:00:00 GMT Jennifer Segovia 2008-05-28T15:00:00Z 2008-05-28T15:00:00Z According to Standard & Poor, a quarterly index that covers all nine US Census divisions, prices nationwide are at levels not seen since the third quarter of 2004, but it is still up 60 percent versus 2000. http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=Treat_reverse_mortgage_as_final_option http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=Treat_reverse_mortgage_as_final_option Tue, 27 May 2008 15:00:00 GMT Jennifer Segovia 2008-05-27T15:00:00Z 2008-05-27T15:00:00Z For seniors who have not prepared for their retirement as well as they had hoped, there is always a reverse mortgage. But a reverse mortgage loan shouldn’t be looked at as a backup; instead it should be seen as an option when all others are gone. http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=Is_reverse_mortgage_due_if_you_move_to_a_nursing_home http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=Is_reverse_mortgage_due_if_you_move_to_a_nursing_home Fri, 23 May 2008 15:00:00 GMT Jennifer Segovia 2008-05-23T15:00:00Z 2008-05-23T15:00:00Z Reverse mortgages have several benefits, especially since the money you receive from it isn’t counted as additional income, and therefore is tax free. http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=Reverse_mortgage_great_for_seniors_who_own_house http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=Reverse_mortgage_great_for_seniors_who_own_house Thu, 22 May 2008 15:00:00 GMT Jennifer Segovia 2008-05-22T15:00:00Z 2008-05-22T15:00:00Z Seniors who are cash-strapped are looking for options to help their financial situation. Reverse mortgages are a great option, but are usually better suited for those whose homes are either paid off or have a low mortgage balance, and who want to live in the residence for the rest of their lives. http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=Three_steps_towards_a_smarter_financial_decision http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=Three_steps_towards_a_smarter_financial_decision Wed, 21 May 2008 15:00:00 GMT Jennifer Segovia 2008-05-21T15:00:00Z 2008-05-21T15:00:00Z So you’ve already heard about reverse mortgage loans and how you can access your hard earned equity. You are also aware of predatory lenders and that you should carefully consider all available options and speak to family and friends before making a financial decision. http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=Behavioral_changes_in_consumer_spending_habits http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=Behavioral_changes_in_consumer_spending_habits Tue, 20 May 2008 15:00:00 GMT Jennifer Segovia 2008-05-20T15:00:00Z 2008-05-20T15:00:00Z There have been many behavioral changes in consumers since we entered this credit crunch. A survey of Wal-Mart buyers by Reuters found a significant increase in store traffic from the end of the month to the first of the month. http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=Seniors_pressured_into_buying_unnecessary_financial_products http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=Seniors_pressured_into_buying_unnecessary_financial_products Mon, 19 May 2008 15:00:00 GMT Jennifer Segovia 2008-05-19T15:00:00Z 2008-05-19T15:00:00Z When seniors are approached by someone trying to sell them a reverse mortgage, they should pay specific attention to the fine print and if the person is trying to add on other financial products. http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=Reverse_mortgage_great_for_those_who_dont_want_to_move http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=Reverse_mortgage_great_for_those_who_dont_want_to_move Fri, 16 May 2008 15:00:00 GMT Jennifer Segovia 2008-05-16T15:00:00Z 2008-05-16T15:00:00Z One way to find out if a reverse mortgage loan is right for you is to look at your future plans for your home. Do you plan on staying there for a long time? Or do you plan on moving or selling in the near future? http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=Fixed_Rate_Loans_build_equity_slowly http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=Fixed_Rate_Loans_build_equity_slowly Thu, 15 May 2008 15:00:00 GMT Jennifer Segovia 2008-05-15T15:00:00Z 2008-05-15T15:00:00Z Fixed-Rate Loans seem like a good deal: fixed monthly payments that will never increase, and about 40 or 50 years to pay it off. The problem with 40-Year and 50-Year Fixed-Rate Mortgages is that they build up equity too slowly. http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=Interest_Only_Mortgage_not_very_economical http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=Interest_Only_Mortgage_not_very_economical Wed, 14 May 2008 15:00:00 GMT Jennifer Segovia 2008-05-14T15:00:00Z 2008-05-14T15:00:00Z An Interest-Only Mortgage is not the greatest and most economical way to afford a home. There are different products that offer interest-only payments like the Three-Year, Five-Year, Seven-Year, and 10-year Interest-Only Option on an ARM. http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=Why_you_should_avoid_ARMs http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=Why_you_should_avoid_ARMs Tue, 13 May 2008 15:00:00 GMT Jennifer Segovia 2008-05-13T15:00:00Z 2008-05-13T15:00:00Z Like the Multiple-Choice Mortgage and Cash-Out Financing, Adjustable Rate Mortgages (ARMs) should also be avoided. ARMs are pretty popular, but they are also tough on budgets, as the monthly payments are variable in just one to three years. http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=Why_house_prices_rise_or_fall http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=Why_house_prices_rise_or_fall Mon, 12 May 2008 15:00:00 GMT Jennifer Segovia 2008-05-12T15:00:00Z 2008-05-12T15:00:00Z During the housing boom a few years ago, it didn’t matter if the door was painted raspberry red or electric yellow, most houses were surging in value. http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=Avoid_Cash_Out_Mortgages http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=Avoid_Cash_Out_Mortgages Fri, 09 May 2008 15:00:00 GMT Jennifer Segovia 2008-05-09T15:00:00Z 2008-05-09T15:00:00Z Another type of mortgage that should be avoided is the Cash-Out Financing. These products are also called 103s, 107s, and 125s. http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=One_mortgage_to_avoid http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=One_mortgage_to_avoid Thu, 08 May 2008 15:00:00 GMT Jennifer Segovia 2008-05-08T15:00:00Z 2008-05-08T15:00:00Z For first time buyers trying to take advantage of the foreclosure market, it may be smart to avoid certain types of mortgages. http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=Predictions_of_the_foreclosure_market http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=Predictions_of_the_foreclosure_market Wed, 07 May 2008 15:00:00 GMT Jennifer Segovia 2008-05-07T15:00:00Z 2008-05-07T15:00:00Z What is the future of the foreclosure market? Credit Suisse estimates that over the next five years, an astounding 6.5 million families, or one out of 8 American homeowners will end up in foreclosure. http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=Seniors_with_or_without_mortgage_can_qualify_for_reverse_mortgage http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=Seniors_with_or_without_mortgage_can_qualify_for_reverse_mortgage Tue, 06 May 2008 15:00:00 GMT Jennifer Segovia 2008-05-06T15:00:00Z 2008-05-06T15:00:00Z According to the latest census data from 2000, 74.9 percent of owners 70 and older had no mortgage on a primary dwelling. Sometimes there are people in the middle of their working years that are lucky enough to have their homes paid off. http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=Reverse_mortgage_will_never_exceed_home_value http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=Reverse_mortgage_will_never_exceed_home_value Mon, 05 May 2008 15:00:00 GMT Jennifer Segovia 2008-05-05T15:00:00Z 2008-05-05T15:00:00Z Great news for seniors who have a reverse mortgage protected by the FHA, or for those who are thinking about getting one: the meltdown in home values does not affect your loan! http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=Jobless_rate_falls_but_economy_is_still_troubled http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=Jobless_rate_falls_but_economy_is_still_troubled Fri, 02 May 2008 15:00:00 GMT Jennifer Segovia 2008-05-02T15:00:00Z 2008-05-02T15:00:00Z The problematic economy that we are facing today is affecting everyone. Aside from affecting grocery and gas prices, this falling economy is stripping many hard workers of their jobs. http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=Is_housing_market_to_blame_for_commodities_running_out http://www.reversemortgageloansflorida.net/Blog.aspx?date=May_2008&title=Is_housing_market_to_blame_for_commodities_running_out Thu, 01 May 2008 15:00:00 GMT Jennifer Segovia 2008-05-01T15:00:00Z 2008-05-01T15:00:00Z People around the country are beginning to worry about what may be a food shortage. The plunging economy as a result of the housing market needs to get back on its feet before our everyday necessities get any more expensive. http://www.reversemortgageloansflorida.net/Blog.aspx?date=April_2008&title=Foreclosure_filings_continue_to_rise http://www.reversemortgageloansflorida.net/Blog.aspx?date=April_2008&title=Foreclosure_filings_continue_to_rise Wed, 30 Apr 2008 15:00:00 GMT Jennifer Segovia 2008-04-30T15:00:00Z 2008-04-30T15:00:00Z Foreclosure filings continue to increase all over the country, and in Alachua County, Florida, it has gone up by 175%. Many reasons contribute to delinquent mortgages: loss of income, job loss, or health reasons that make it impossible to make the monthly payment. http://www.reversemortgageloansflorida.net/Blog.aspx?date=April_2008&title=Types_Of_Mortgage_Which_One_Is_Right_For_You http://www.reversemortgageloansflorida.net/Blog.aspx?date=April_2008&title=Types_Of_Mortgage_Which_One_Is_Right_For_You Tue, 29 Apr 2008 15:00:00 GMT Jennifer Segovia 2008-04-29T15:00:00Z 2008-04-29T15:00:00Z So, you are planning to buy your perfect house or commercial property but don’t know what your options are in the mortgage department. http://www.reversemortgageloansflorida.net/Blog.aspx?date=April_2008&title=Signs_Of_Good_Mortgage_Brokers http://www.reversemortgageloansflorida.net/Blog.aspx?date=April_2008&title=Signs_Of_Good_Mortgage_Brokers Mon, 28 Apr 2008 15:00:00 GMT Jennifer Segovia 2008-04-28T15:00:00Z 2008-04-28T15:00:00Z A good mortgage broker is something every potential homeowner or experienced real estate investor needs to have on their side. http://www.reversemortgageloansflorida.net/Blog.aspx?date=April_2008&title=Second_Mortgage_What_Is_It_Exactly http://www.reversemortgageloansflorida.net/Blog.aspx?date=April_2008&title=Second_Mortgage_What_Is_It_Exactly Fri, 25 Apr 2008 15:00:00 GMT Jennifer Segovia 2008-04-25T15:00:00Z 2008-04-25T15:00:00Z Everyone has heard a friend or relative complain about having to take out a second mortgage but don’t really know what that means. Let’s find out! http://www.reversemortgageloansflorida.net/Blog.aspx?date=April_2008&title=Factors_Of_Mortgage_Approval http://www.reversemortgageloansflorida.net/Blog.aspx?date=April_2008&title=Factors_Of_Mortgage_Approval Thu, 24 Apr 2008 15:00:00 GMT Jennifer Segovia 2008-04-24T15:00:00Z 2008-04-24T15:00:00Z When applying for a mortgage, the lender you have chosen will take many factors into account, which will determine what your monthly payments will be and how many years you will take to pay the loan off completely. http://www.reversemortgageloansflorida.net/Blog.aspx?date=April_2008&title=Reverse_Mortgage_Alternative http://www.reversemortgageloansflorida.net/Blog.aspx?date=April_2008&title=Reverse_Mortgage_Alternative Wed, 23 Apr 2008 15:00:00 GMT Jennifer Segovia 2008-04-23T15:00:00Z 2008-04-23T15:00:00Z For seniors between 65 and 85 who want to access the equity tied up in their homes, it seems that they have to refinance or take out a reverse mortgage loan. But there is another way. http://www.reversemortgageloansflorida.net/Blog.aspx?date=April_2008&title=What_Is_A_Mortgage http://www.reversemortgageloansflorida.net/Blog.aspx?date=April_2008&title=What_Is_A_Mortgage Tue, 22 Apr 2008 15:00:00 GMT Jennifer Segovia 2008-04-22T15:00:00Z 2008-04-22T15:00:00Z Every homeowner knows what a mortgage is but do you? Many people have heard that term on movies, television shows, and commercials but don’t really know what it really means. http://www.reversemortgageloansflorida.net/Blog.aspx?date=April_2008&title=Seniors_wait_for_home_value_to_rise http://www.reversemortgageloansflorida.net/Blog.aspx?date=April_2008&title=Seniors_wait_for_home_value_to_rise Mon, 21 Apr 2008 15:00:00 GMT Jennifer Segovia 2008-04-21T15:00:00Z 2008-04-21T15:00:00Z Many people are trapped in this housing slump. Seniors who want to retire are having trouble liquidating their assets, as most of their investment is secured in their houses. http://www.reversemortgageloansflorida.net/Blog.aspx?date=April_2008&title=Reverse_mortgage_like_a_second_Social_Security_check http://www.reversemortgageloansflorida.net/Blog.aspx?date=April_2008&title=Reverse_mortgage_like_a_second_Social_Security_check Thu, 17 Apr 2008 15:00:00 GMT Jennifer Segovia 2008-04-17T15:00:00Z 2008-04-17T15:00:00Z Figures based on data from Golden Gateway Financial, report that the money seniors save from making mortgage payments, together with their monthly reverse mortgage checks will easily exceed the amount of their Social Security check. http://www.reversemortgageloansflorida.net/Blog.aspx?date=April_2008&title=Seniors_struggle_paying_for_mortgage_and_health_care http://www.reversemortgageloansflorida.net/Blog.aspx?date=April_2008&title=Seniors_struggle_paying_for_mortgage_and_health_care Wed, 16 Apr 2008 15:00:00 GMT Jennifer Segovia 2008-04-16T15:00:00Z 2008-04-16T15:00:00Z In an AARP study, 28% of seniors cited “Health or Disability” as a reason for looking into a reverse mortgage. Their worries are justified, as the need for health care increases as seniors get older. http://www.reversemortgageloansflorida.net/Blog.aspx?date=April_2008&title=Paying_for_long_term_care_insurance_on_a_fixed_income http://www.reversemortgageloansflorida.net/Blog.aspx?date=April_2008&title=Paying_for_long_term_care_insurance_on_a_fixed_income Tue, 15 Apr 2008 15:00:00 GMT Jennifer Segovia 2008-04-15T15:00:00Z 2008-04-15T15:00:00Z Seniors reaching retirement age are often worried about how to pay for expenses if they cannot take care of themselves. Many of them also worry that they will become a burden on their children. http://www.reversemortgageloansflorida.net/Blog.aspx?date=April_2008&title=FINRA_cautions_homeowners_about_tapping_into_home_equity http://www.reversemortgageloansflorida.net/Blog.aspx?date=April_2008&title=FINRA_cautions_homeowners_about_tapping_into_home_equity Mon, 14 Apr 2008 15:00:00 GMT Jennifer Segovia 2008-04-14T15:00:00Z 2008-04-14T15:00:00Z Last week, there was an Investor Alert issued by the Financial Industry Regulatory Authority (FINRA). It cautions homeowners over the age of 60 to be wary of tapping into their home equity through reverse mortgages. http://www.reversemortgageloansflorida.net/Blog.aspx?date=April_2008&title=Common_reverse_mortgage_concerns http://www.reversemortgageloansflorida.net/Blog.aspx?date=April_2008&title=Common_reverse_mortgage_concerns Fri, 11 Apr 2008 15:00:00 GMT Jennifer Segovia 2008-04-11T15:00:00Z 2008-04-11T15:00:00Z Most people in the market for a reverse mortgage loan ask the usual questions like: How much money will I get? How much are the fees? What is the interest rate? http://www.reversemortgageloansflorida.net/Blog.aspx?date=April_2008&title=Small_steps_to_help_relieve_homeowners http://www.reversemortgageloansflorida.net/Blog.aspx?date=April_2008&title=Small_steps_to_help_relieve_homeowners Thu, 10 Apr 2008 15:00:00 GMT Jennifer Segovia 2008-04-10T15:00:00Z 2008-04-10T15:00:00Z There is a lot of criticism of how the Bush Administration is handling the current housing and mortgage crisis. Here are their latest initivatives. http://www.reversemortgageloansflorida.net/Blog.aspx?date=April_2008&title=Reverse_mortgage_loans_have_changed http://www.reversemortgageloansflorida.net/Blog.aspx?date=April_2008&title=Reverse_mortgage_loans_have_changed Wed, 09 Apr 2008 15:00:00 GMT Jennifer Segovia 2008-04-09T15:00:00Z 2008-04-09T15:00:00Z Reverse mortgage loans have changed a lot since they first appeared in the market. Since a reverse mortgage is based on the equity in your home, what happens if you outlive the equity in your home? http://www.reversemortgageloansflorida.net/Blog.aspx?date=April_2008&title=Eager_sellers_may_find_success_at_auction http://www.reversemortgageloansflorida.net/Blog.aspx?date=April_2008&title=Eager_sellers_may_find_success_at_auction Tue, 08 Apr 2008 15:00:00 GMT Jennifer Segovia 2008-04-08T15:00:00Z 2008-04-08T15:00:00Z Potential buyers who can afford buying a home during this down market are searching for homes in less traditional places, like auctions. http://www.reversemortgageloansflorida.net/Blog.aspx?date=April_2008&title=Mortgage_life_insurance_can_provide_security http://www.reversemortgageloansflorida.net/Blog.aspx?date=April_2008&title=Mortgage_life_insurance_can_provide_security Mon, 07 Apr 2008 15:00:00 GMT Jennifer Segovia 2008-04-07T15:00:00Z 2008-04-07T15:00:00Z Mortgage life insurance will pay off your mortgage if you die before it is completely paid off. http://www.reversemortgageloansflorida.net/Blog.aspx?date=April_2008&title=Latest_proposals_to_improve_mortgage_and_housing_industry http://www.reversemortgageloansflorida.net/Blog.aspx?date=April_2008&title=Latest_proposals_to_improve_mortgage_and_housing_industry Fri, 04 Apr 2008 15:00:00 GMT Jennifer Segovia 2008-04-04T15:00:00Z 2008-04-04T15:00:00Z The Senate is still trying to stabilize the mortgage and housing industry with proposals, is it enough? http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2008&title=Pay_for_living_expenses_with_a_reverse_mortgage_loan http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2008&title=Pay_for_living_expenses_with_a_reverse_mortgage_loan Thu, 03 Apr 2008 15:00:00 GMT Jennifer Segovia 2008-04-03T15:00:00Z 2008-04-03T15:00:00Z A survey by Consumer Credit Counseling Service of Greater Atlanta, Inc., found that the main reason most homeowners who took out a reverse mortgage loan was to pay for living expenses. http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2008&title=Reverse_Mortgage_laws_are_varied http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2008&title=Reverse_Mortgage_laws_are_varied Tue, 01 Apr 2008 15:00:00 GMT Jennifer Segovia 2008-04-01T15:00:00Z 2008-04-01T15:00:00Z Reverse Mortgage laws are varied, and though the borrower(s) uses their house as security, they still have certain responsibilities. http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2008&title=Home_value_may_drop_but_benefits_continue_with_a_reverse_mortgage http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2008&title=Home_value_may_drop_but_benefits_continue_with_a_reverse_mortgage Mon, 31 Mar 2008 15:00:00 GMT Jennifer Segovia 2008-03-31T15:00:00Z 2008-03-31T15:00:00Z As many Americans are struggling to keep their home, more and more seniors are looking into reverse mortgages. Although the value of your home can drop, your benefits do not reduce. http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2008&title=Fixed_interest_rate_reverse_mortgages_are_now_available http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2008&title=Fixed_interest_rate_reverse_mortgages_are_now_available Fri, 28 Mar 2008 15:00:00 GMT William Kennedy 2008-03-28T15:00:00Z 2008-03-28T15:00:00Z Until this week all reverse mortgage loans came with a variable interest rate. This of course made it hard to predict how expensive a reverse mortgage would be by the time the mortgage was closed. http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2008&title=In_crime_with_predatory_lenders http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2008&title=In_crime_with_predatory_lenders Thu, 27 Mar 2008 15:00:00 GMT Jennifer Segovia 2008-03-27T15:00:00Z 2008-03-27T15:00:00Z Was the Bush administration partners in crime with predatory lenders? In article written by former New York Governor Eliot Spitzer, light is shed on the Bush administration and their handling of the current housing crisis. http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2008&title=Sales_of_existing_homes_fell_by_12.7_percent_in_2007 http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2008&title=Sales_of_existing_homes_fell_by_12.7_percent_in_2007 Wed, 26 Mar 2008 15:00:00 GMT Jennifer Segovia 2008-03-26T15:00:00Z 2008-03-26T15:00:00Z Sales of existing homes fell by 12.7 percent in 2007, the biggest decline in 25 years. Over the past two years, the severe credit crunch forced the housing market into a steep downturn. But according to the National Association of Realtors, the sales of existing homes rose by 2.9 percent in February. http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2008&title=Attempted_or_suspected_mortgage_fraud http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2008&title=Attempted_or_suspected_mortgage_fraud Tue, 25 Mar 2008 15:00:00 GMT Jennifer Segovia 2008-03-25T15:00:00Z 2008-03-25T15:00:00Z Between September 2006 and October 2007, lenders and financial institutions across the nation filed 46,717 reports of attempted or suspected mortgage fraud. This number is up 32 percent from the previous year, and the FBI tallied 260 convictions on mortgage-related crimes in 2007. http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2008&title=Florida_sunset_has_finally_set http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2008&title=Florida_sunset_has_finally_set Mon, 24 Mar 2008 15:00:00 GMT Jennifer Segovia 2008-03-24T15:00:00Z 2008-03-24T15:00:00Z It seems like Florida’s sunset has finally set. In 2007, 37% fewer people moved to Florida than in the previous year, setting the slowest pace of growth in ten years. http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2008&title=Fixed_rate_home_loans_are_getting_higher http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2008&title=Fixed_rate_home_loans_are_getting_higher Fri, 21 Mar 2008 15:00:00 GMT Jennifer Segovia 2008-03-21T15:00:00Z 2008-03-21T15:00:00Z Although the Feds cut interest rates even further on Tuesday, fixed rate home loans are actually getting higher. http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2008&title=Another_move_to_help_relieve_US_homeowners http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2008&title=Another_move_to_help_relieve_US_homeowners Thu, 20 Mar 2008 15:00:00 GMT Jennifer Segovia 2008-03-20T15:00:00Z 2008-03-20T15:00:00Z The Office of Federal Housing Enterprise Oversight is making it easier for Fannie Mae and Freddie Mac to absorb problem loans in an effort to stabilize falling home prices. http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2008&title=Housing_market_slump_is_really_hitting_working_class_families http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2008&title=Housing_market_slump_is_really_hitting_working_class_families Wed, 19 Mar 2008 15:00:00 GMT Jennifer Segovia 2008-03-19T15:00:00Z 2008-03-19T15:00:00Z Florida’s real estate needs help, as its problems are complicated. Some community activists believe that just because they were her before the next person, that only newer residents should pay the higher costs of a new water supply. http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2008&title=Foreclosure_filings_jumped_60_percent http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2008&title=Foreclosure_filings_jumped_60_percent Tue, 18 Mar 2008 15:00:00 GMT Jennifer Segovia 2008-03-18T15:00:00Z 2008-03-18T15:00:00Z In February, foreclosure filings jumped 60 percent and bank seizures more than doubled. President Bush said yesterday, that "The program is beginning to work, beginning to help. http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2008&title=Suspected_cases_of_mortgage_fraud http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2008&title=Suspected_cases_of_mortgage_fraud Fri, 14 Mar 2008 15:00:00 GMT Jennifer Segovia 2008-03-14T15:00:00Z 2008-03-14T15:00:00Z Executive deputy chief of the fraud section in the Justice Department's criminal unit, John D. Arterberry announced that law enforcement agencies are cracking down on suspected cases of mortgage fraud. http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2008&title=Another_$200_billion_to_help_mortgage_market_liquidity http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2008&title=Another_$200_billion_to_help_mortgage_market_liquidity Thu, 13 Mar 2008 15:00:00 GMT Jennifer Segovia 2008-03-13T15:00:00Z 2008-03-13T15:00:00Z The Federal Reserve plans to lend $200 billion, in an effort to improve market liquidity. They also plan to lend another $200 billion to help mortgage market liquidity. http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2008&title=Criminal_inquiry_into_the_biggest_mortgage_lender http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2008&title=Criminal_inquiry_into_the_biggest_mortgage_lender Wed, 12 Mar 2008 15:00:00 GMT Jennifer Segovia 2008-03-12T15:00:00Z 2008-03-12T15:00:00Z The U.S. Federal authorities have opened a criminal inquiry into Countrywide Financial, the country’s biggest mortgage lender. http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2008&title=In_denial_about_our_economy http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2008&title=In_denial_about_our_economy Tue, 11 Mar 2008 15:00:00 GMT Jennifer Segovia 2008-03-11T15:00:00Z 2008-03-11T15:00:00Z Those who are still in denial about our economy being in recession must not understand the gravity of the situation. http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2008&title=Nearly_3_million_homeowners_were_behind_on_their_mortgages http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2008&title=Nearly_3_million_homeowners_were_behind_on_their_mortgages Mon, 10 Mar 2008 15:00:00 GMT Jennifer Segovia 2008-03-10T15:00:00Z 2008-03-10T15:00:00Z The Mortgage Bankers Association reported that at the end of last year, nearly 3 million homeowners were behind on their mortgages, and over a million borrowers were at risk of imminent foreclosure. http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2008&title=Declining_home_prices_are_the_reason_behind_the_foreclosures http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2008&title=Declining_home_prices_are_the_reason_behind_the_foreclosures Fri, 07 Mar 2008 15:00:00 GMT Jennifer Segovia 2008-03-07T15:00:00Z 2008-03-07T15:00:00Z States like Florida and California, where there was an overbuilding of new homes, total 30% of the mortgages that are beginning the foreclosure process. Unfortunately, declining home prices are the reason behind the foreclosures. http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2008&title=Florida_foreclosure_courts_are_months_behind http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2008&title=Florida_foreclosure_courts_are_months_behind Thu, 06 Mar 2008 15:00:00 GMT Jennifer Segovia 2008-03-06T15:00:00Z 2008-03-06T15:00:00Z In Dade and Broward counties, there is now an 8-10 month wait to get a court date to have a foreclosure filing. Some borrowers who own multimillion dollar homes have ceased to pay their mortgages. http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2008&title=Federal_Reserve_Chairman_Ben_Bernanke_is_urging_banks http://www.reversemortgageloansflorida.net/Blog.aspx?date=March_2008&title=Federal_Reserve_Chairman_Ben_Bernanke_is_urging_banks Wed, 05 Mar 2008 15:00:00 GMT Jennifer Segovia 2008-03-05T15:00:00Z 2008-03-05T15:00:00Z Federal Reserve Chairman Ben S. Bernanke is urging banks to not only cut interest rates on some troubled mortgages, but to also cut the size of the size of the loans. http://www.reversemortgageloansflorida.net/Blog.aspx?date=February_2008&title=Worst_real_estate_slump_since_the_Great_Depression http://www.reversemortgageloansflorida.net/Blog.aspx?date=February_2008&title=Worst_real_estate_slump_since_the_Great_Depression Wed, 27 Feb 2008 15:00:00 GMT Jennifer Segovia 2008-02-27T15:00:00Z 2008-02-27T15:00:00Z Many companies are not prepared for the worst real estate slump since the Great Depression. One business that may be worsening the housing crisis and pushing the US economy closer to recession is mortgage servicers. http://www.reversemortgageloansflorida.net/Blog.aspx?date=February_2008&title=Will_the_monetary_and_fiscal_stimulus_packages_work_in_the_long_run http://www.reversemortgageloansflorida.net/Blog.aspx?date=February_2008&title=Will_the_monetary_and_fiscal_stimulus_packages_work_in_the_long_run Tue, 26 Feb 2008 15:00:00 GMT Jennifer Segovia 2008-02-26T15:00:00Z 2008-02-26T15:00:00Z Will the monetary and fiscal stimulus packages work in the long run? It’s hard to say, but from the way it looks, the answer is probably doubtful. http://www.reversemortgageloansflorida.net/Blog.aspx?date=February_2008&title=Cost-of-living_seems_to_be_increasing_everywhere http://www.reversemortgageloansflorida.net/Blog.aspx?date=February_2008&title=Cost-of-living_seems_to_be_increasing_everywhere Mon, 25 Feb 2008 15:00:00 GMT Jennifer Segovia 2008-02-25T15:00:00Z 2008-02-25T15:00:00Z As the cost-of-living seems to be increasing everywhere, Key West, Florida is no exception. Many are blaming rents and mortgages which are twice as high as on the mainland. http://www.reversemortgageloansflorida.net/Blog.aspx?date=February_2008&title=Freddie_Mac_is_changing_the_rules http://www.reversemortgageloansflorida.net/Blog.aspx?date=February_2008&title=Freddie_Mac_is_changing_the_rules Wed, 20 Feb 2008 15:00:00 GMT Jennifer Segovia 2008-02-20T15:00:00Z 2008-02-20T15:00:00Z Freddie Mac, the government-backed funder of U.S. home loans is trying to help mortgage insurers by purchasing loans covered by mortgage insurers that don’t meet its standards for the amount of capital backing their policies. http://www.reversemortgageloansflorida.net/Blog.aspx?date=February_2008&title=Federal_Housing_Administration_to_allow_purchase_transactions_in_its_reverse_mortgage_program http://www.reversemortgageloansflorida.net/Blog.aspx?date=February_2008&title=Federal_Housing_Administration_to_allow_purchase_transactions_in_its_reverse_mortgage_program Mon, 18 Feb 2008 15:00:00 GMT Jennifer Segovia 2008-02-18T15:00:00Z 2008-02-18T15:00:00Z A new legislation that authorizes the Federal Housing Administration to allow purchase transactions in its reverse mortgage program is expected to take effect shortly. The legislation would limit the amount of cash a purchaser would need to buy a home without being burdened by a typical mortgage. http://www.reversemortgageloansflorida.net/Blog.aspx?date=February_2008&title=NAR_reports_that_national_median_price_drop_of_5.8_precent http://www.reversemortgageloansflorida.net/Blog.aspx?date=February_2008&title=NAR_reports_that_national_median_price_drop_of_5.8_precent Fri, 15 Feb 2008 15:00:00 GMT Jennifer Segovia 2008-02-15T15:00:00Z 2008-02-15T15:00:00Z The National Association of Realtors (NAR) reports that national median price drop of 5.8% during the last 3 months of 2007 set a record for the biggest-ever quarterly drop. They blame the credit crunch in the jumbo loan market which started in August of last year for the price drop. http://www.reversemortgageloansflorida.net/Blog.aspx?date=February_2008&title=Number_of_homes_in_foreclosures_has_yet_to_decrease http://www.reversemortgageloansflorida.net/Blog.aspx?date=February_2008&title=Number_of_homes_in_foreclosures_has_yet_to_decrease Thu, 14 Feb 2008 15:00:00 GMT Jennifer Segovia 2008-02-14T15:00:00Z 2008-02-14T15:00:00Z In an effort to reduce the number of foreclosures, the Bush Administration rolled out a new initiative called Project Lifeline. http://www.reversemortgageloansflorida.net/Blog.aspx?date=February_2008&title=Mortgage_brokers_have_been_put_out_of_work http://www.reversemortgageloansflorida.net/Blog.aspx?date=February_2008&title=Mortgage_brokers_have_been_put_out_of_work Tue, 12 Feb 2008 15:00:00 GMT Jennifer Segovia 2008-02-12T15:00:00Z 2008-02-12T15:00:00Z The situation concerning the mortgage market really is as bad as one may think. More importantly, it is affecting employment within the industry. To be exact, over 26,000 mortgage brokers have been put out of work, according to federal statistics. http://www.reversemortgageloansflorida.net/Blog.aspx?date=February_2008&title=People_start_preparing_for_the_upcoming_recession http://www.reversemortgageloansflorida.net/Blog.aspx?date=February_2008&title=People_start_preparing_for_the_upcoming_recession Fri, 08 Feb 2008 15:00:00 GMT Jennifer Segovia 2008-02-08T15:00:00Z 2008-02-08T15:00:00Z As many people start preparing for the upcoming recession, others already think we’re in it. Many factors are responsible for this, especially since the credit crunch that started in August 2007. http://www.reversemortgageloansflorida.net/Blog.aspx?date=February_2008&title=Real_estate_market_in_Florida_is_particularly_bad http://www.reversemortgageloansflorida.net/Blog.aspx?date=February_2008&title=Real_estate_market_in_Florida_is_particularly_bad Thu, 07 Feb 2008 15:00:00 GMT Jennifer Segovia 2008-02-07T15:00:00Z 2008-02-07T15:00:00Z The numbers of houses in foreclosure in Florida, ready for auction tripled since 2006 to 10,209 in 2007, with another 1,467 from last month. http://www.reversemortgageloansflorida.net/Blog.aspx?date=February_2008&title=Downfall_of_the_housing_market_is_felt_throughout_many_industries http://www.reversemortgageloansflorida.net/Blog.aspx?date=February_2008&title=Downfall_of_the_housing_market_is_felt_throughout_many_industries Wed, 06 Feb 2008 15:00:00 GMT Jennifer Segovia 2008-02-06T15:00:00Z 2008-02-06T15:00:00Z As we already know, the downfall of the housing market is felt throughout many industries. The mortgage industry, in particular is one that is being blamed for risky lending practices. http://www.reversemortgageloansflorida.net/Blog.aspx?date=February_2008&title=Can_we_stave_off_a_recession_in_Florida http://www.reversemortgageloansflorida.net/Blog.aspx?date=February_2008&title=Can_we_stave_off_a_recession_in_Florida Tue, 05 Feb 2008 15:00:00 GMT Jennifer Segovia 2008-02-05T15:00:00Z 2008-02-05T15:00:00Z One of the many problems in Florida and other Sunbelt states that contributed to the downfall of the housing market is that many people overextended themselves on rising mortgage debt that they really couldn’t afford. http://www.reversemortgageloansflorida.net/Blog.aspx?date=February_2008&title=Reverse_Mortgage_Proceeds_Protection_Act http://www.reversemortgageloansflorida.net/Blog.aspx?date=February_2008&title=Reverse_Mortgage_Proceeds_Protection_Act Mon, 04 Feb 2008 15:00:00 GMT Jennifer Segovia 2008-02-04T15:00:00Z 2008-02-04T15:00:00Z Given the slowdown of the mortgage market, more and more lenders are offering reverse mortgages. In December of last year, U.S. Sen. Claire McCaskill (D-Mo.) filed for legislation of the Reverse Mortgage Proceeds Protection Act. http://www.reversemortgageloansflorida.net/Blog.aspx?date=February_2008&title=Federal_Reserve_and_Congress_are_taking_action http://www.reversemortgageloansflorida.net/Blog.aspx?date=February_2008&title=Federal_Reserve_and_Congress_are_taking_action Fri, 01 Feb 2008 15:00:00 GMT Jennifer Segovia 2008-02-01T15:00:00Z 2008-02-01T15:00:00Z The Federal Reserve and Congress are taking action to help stimulate the economy through interest rate cuts and tax rebates. The US House of Representatives passed a bill that would let those borrowing up to $730,000 take advantage of the rate cuts. http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Your_age_affects_the_amount_you_may_receive_with_a_reverse_mortgage http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Your_age_affects_the_amount_you_may_receive_with_a_reverse_mortgage Thu, 31 Jan 2008 15:00:00 GMT Jennifer Segovia 2008-01-31T15:00:00Z 2008-01-31T15:00:00Z If you are over 62 years old and thinking about a applying for a reverse mortgage loan, you should also think about how your age affects the amount you may receive. http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Florida_voters_approve_Amendment_1 http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Florida_voters_approve_Amendment_1 Wed, 30 Jan 2008 15:00:00 GMT Jennifer Segovia 2008-01-30T15:00:00Z 2008-01-30T15:00:00Z As of 10:10pm on January 29, the Florida Department of State, Division of Elections' unofficial election night returns indicate Florida voters have approved Amendment #1. http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Florida_Attorney_General_Bill_McCollum_cautions_seniors_about_reverse_mortgages http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Florida_Attorney_General_Bill_McCollum_cautions_seniors_about_reverse_mortgages Tue, 29 Jan 2008 15:00:00 GMT Jennifer Segovia 2008-01-29T15:00:00Z 2008-01-29T15:00:00Z Florida Attorney General Bill McCollum has cautioned seniors about scams relating to reverse mortgages. He issued a consumer advisory that warns senior citizens in Florida about predatory lenders or brokers trying to capitalize on their situation. http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Florida_seniors_have_the_opportunity_to_receive_debt-free_cash_today http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Florida_seniors_have_the_opportunity_to_receive_debt-free_cash_today Mon, 28 Jan 2008 15:00:00 GMT William Kennedy 2008-01-28T15:00:00Z 2008-01-28T15:00:00Z If you live in Florida and considering a reverse mortgage consider this. The EquityKey program is a debt-free alternative for those between the ages of 65 and 85 who are considering a reverse mortgage. http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Sub-prime_mortgage_companies_have_put_the_housing_economy_upside_down http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Sub-prime_mortgage_companies_have_put_the_housing_economy_upside_down Fri, 25 Jan 2008 15:00:00 GMT William Kennedy 2008-01-25T15:00:00Z 2008-01-25T15:00:00Z It is easy to play Monday morning quarterback with why the sub-prime mortgage companies have put the housing economy upside down. At the time everyone was excited because home ownership rose to record levels and a lot of people were making a lot of money. http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Property_taxes_in_Florida_takes_a_big_toll_on_any_homeowner_income http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Property_taxes_in_Florida_takes_a_big_toll_on_any_homeowner_income Thu, 24 Jan 2008 15:00:00 GMT William Kennedy 2008-01-24T15:00:00Z 2008-01-24T15:00:00Z On January 29, 2008, Floridians will have a chance to change the law on property taxes by voting on Amendment I. http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Now_is_the_time_to_refinance_your_home_mortgage http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Now_is_the_time_to_refinance_your_home_mortgage Wed, 23 Jan 2008 15:00:00 GMT William Kennedy 2008-01-23T15:00:00Z 2008-01-23T15:00:00Z By the beginning of February expect to see the lowest interest rates in years for home mortgages. Anyone who refinanced only six months ago may see as much as a 2 point different in their current rate compared to the rates today. http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Using_a_reverse_mortgage_to_purchase_a_vacation_home http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Using_a_reverse_mortgage_to_purchase_a_vacation_home Tue, 22 Jan 2008 15:00:00 GMT William Kennedy 2008-01-22T15:00:00Z 2008-01-22T15:00:00Z The only problem is that not all seniors can afford to live in two homes and keep up with the costs. What many seniors are doing to make this possible, is to take out a reverse mortgage on their current home and purchase a vacation home. http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Reverse_mortgage_may_help_you_escape_bankruptcy_or_foreclosure http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Reverse_mortgage_may_help_you_escape_bankruptcy_or_foreclosure Mon, 21 Jan 2008 15:00:00 GMT William Kennedy 2008-01-21T15:00:00Z 2008-01-21T15:00:00Z According to forecasts made by Housing Predictor, Miami, Florida leads the list of the Annual Worst 25 Housing Predictor Market Forecasts for 2008. http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Reverse_mortgage_numbers_for_2007_are_in_by_the_FHA http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Reverse_mortgage_numbers_for_2007_are_in_by_the_FHA Fri, 18 Jan 2008 15:00:00 GMT William Kennedy 2008-01-18T15:00:00Z 2008-01-18T15:00:00Z The FHA released their numbers for HECM reverse mortgage loans. As expected there was a significant increase in the number of HECM cases issued from the prior year. http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Reverse_mortgages_are_a_great_option_as_a_source_of_extra_income http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Reverse_mortgages_are_a_great_option_as_a_source_of_extra_income Wed, 16 Jan 2008 15:00:00 GMT Jennifer Segovia 2008-01-16T15:00:00Z 2008-01-16T15:00:00Z For those seniors who are house rich, but cash poor, they could always sell their home and downsize to a smaller home. But most seniors are already settled and don’t want the hassle of looking for another home. http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Prepare_now_for_the_potential_collapse_of_the_economy http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Prepare_now_for_the_potential_collapse_of_the_economy Tue, 15 Jan 2008 15:00:00 GMT William Kennedy 2008-01-15T15:00:00Z 2008-01-15T15:00:00Z If all this activity in the mortgage space so early in the New Year hasn’t woken you up to what appears to be the beginning of a major collapse in the economy then what signs are you waiting for? http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Reverse_mortgages_can_be_very_versatile http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Reverse_mortgages_can_be_very_versatile Mon, 14 Jan 2008 15:00:00 GMT Jennifer Segovia 2008-01-14T15:00:00Z 2008-01-14T15:00:00Z There are many ways in which seniors can utilize the equity in their home, some are wise, and others are not. http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Seniors_everywhere_are_looking_into_reverse_mortgages http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Seniors_everywhere_are_looking_into_reverse_mortgages Fri, 11 Jan 2008 15:00:00 GMT Jennifer Segovia 2008-01-11T15:00:00Z 2008-01-11T15:00:00Z As the mortgage industry refuses to show any signs of improvement, seniors everywhere are looking into reverse mortgages. http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Negotiate_your_reverse_mortgage_with_a_few_lenders http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Negotiate_your_reverse_mortgage_with_a_few_lenders Thu, 10 Jan 2008 15:00:00 GMT William Kennedy 2008-01-10T15:00:00Z 2008-01-10T15:00:00Z When you decide to go shopping for a reverse mortgage there are two big ticket items that you can negotiate with the lender in an attempt to reduce the cost of the loan. http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Extra_income_is_only_a_reverse_mortgage_away http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Extra_income_is_only_a_reverse_mortgage_away Wed, 09 Jan 2008 15:00:00 GMT Jennifer Segovia 2008-01-09T15:00:00Z 2008-01-09T15:00:00Z At 65 and older, it is hard to make any extra income. One way is to apply for a reverse mortgage loan. The loan will provide income based on the equity of your home and a few other factors. http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Reverse_Mortgage_Estimates http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Reverse_Mortgage_Estimates Tue, 08 Jan 2008 15:00:00 GMT Jennifer Segovia 2008-01-08T15:00:00Z 2008-01-08T15:00:00Z FHA uses the following criteria to determine the amount of a reverse mortgage loan: the property value, the age of the youngest individual on the deed (provided that the senior is over 62), and the current interest-rate. http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Can_a_reverse_mortgage_keep_the_elderly_out_of_a_nursing_home http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Can_a_reverse_mortgage_keep_the_elderly_out_of_a_nursing_home Mon, 07 Jan 2008 15:00:00 GMT Jennifer Segovia 2008-01-07T15:00:00Z 2008-01-07T15:00:00Z The solution may be for the children to talk to their parents about a reverse mortgage. Although older people usually want to protect what they’ve worked long and hard for to their heirs, at the same time, all that equity is just sitting there doing nothing. http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Reverse_mortgage_loans_can_save_the_day http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Reverse_mortgage_loans_can_save_the_day Fri, 04 Jan 2008 17:00:00 GMT Jennifer Segovia 2008-01-04T17:00:00Z 2008-01-04T17:00:00Z It is interesting how a reverse mortgage loan can help different situations, but it is still important to be educated on all the properties of a reverse mortgage loan. http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Florida_Senator_questions_the_FHA_about_reverse_mortgages http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Florida_Senator_questions_the_FHA_about_reverse_mortgages Thu, 03 Jan 2008 16:00:00 GMT Jennifer Segovia 2008-01-03T16:00:00Z 2008-01-03T16:00:00Z Senator Mel Martinez from Florida asked if there were any projections as to how many reverse mortgages the FHA would insure if the cap that limits the total allowable number was raised. http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Reverse_mortgage_might_be_a_better_option_than_selling http://www.reversemortgageloansflorida.net/Blog.aspx?date=January_2008&title=Reverse_mortgage_might_be_a_better_option_than_selling Wed, 02 Jan 2008 16:30:00 GMT William Kennedy 2008-01-02T16:30:00Z 2008-01-02T16:30:00Z Although many real estate professionals are expecting the real estate market to improve by the middle of this year, for some homeowners, that may be to late. If you are over the age of 62 and own your home, a reverse mortgage might be a better option than selling. http://www.reversemortgageloansflorida.net/Blog.aspx?date=December_2007&title=Florida_loses_thousands_of_mortgage-related_jobs_in_2007_but_reverse_mortgages_may_help http://www.reversemortgageloansflorida.net/Blog.aspx?date=December_2007&title=Florida_loses_thousands_of_mortgage-related_jobs_in_2007_but_reverse_mortgages_may_help Fri, 28 Dec 2007 17:45:00 GMT William Kennedy 2007-12-28T17:45:00Z 2007-12-28T17:45:00Z Reverse mortgages may help save some jobs as seniors and lenders are turning to reverse mortgages to help stop foreclosures. http://www.reversemortgageloansflorida.net/Blog.aspx?date=December_2007&title=The_myths_of_Reverse_Mortgages http://www.reversemortgageloansflorida.net/Blog.aspx?date=December_2007&title=The_myths_of_Reverse_Mortgages Thu, 27 Dec 2007 18:00:00 GMT Jennifer Segovia 2007-12-27T18:00:00Z 2007-12-27T18:00:00Z There are many myths about reverse mortgage loans that instill fear in some senior adults and their heirs, and prevent them from thoroughly investigating the details.