ALLRMC Company

ALLRMC Company

Category: Content
Type: Blog Article

Generated 6 days ago

ALLRMC Company

Category: Content
Type: Blog Article

Generated 2 weeks ago

New blog articles detected

  • Reverse Mortgage Solutions (RMS) Foreclosure Problems

    My brother passed away Sept 22,2016. Being his brother he made sole heir and ex. of the estate. Did not find out until Oct. 2016 that he had a reverse mortgage I contacted them about my brother death at which time they wanted to know what I wanted to do, I didn’t know at the […] The post Reverse Mortgage Solutions (RMS) Foreclosure Problems appeared first on All Reverse Mortgage.

ALLRMC Company

Category: Content
Type: Blog Article

Generated 3 weeks ago

ALLRMC Company

Category: Content
Type: Blog Article

Generated 3 weeks ago

ALLRMC Company

Category: Content
Type: Blog Article

Generated 3 weeks ago

ALLRMC Company

Category: Content
Type: Blog Article

Generated 1 month ago

New blog articles detected

  • When Reverse Mortgage Counseling and Appraisal Expires

    Our HECM counseling has just expired and we had to re-take a counseling. However, a month before the counseling expired, an appraisal of our house was ordered by our lender. Now, our reverse mortgage lender ordered another appraisal because he said that the month old appraisal cannot be used because we were just given a […] The post When Reverse Mortgage Counseling and Appraisal Expires appeared f...

ALLRMC Company

Category: Content
Type: Blog Article

Generated 2 months ago

New blog articles detected

  • Reverse Mortgage Appraisal Tips: Laws & Requirements

    Question from our reader: Can you influence the appraiser to give a higher appraised value?     Hi Bruce,   This is one that I would tell you absolutely NO!  It is against the law to try to influence an appraiser to raise a value.  This is not to say that if you feel that […] The post Reverse Mortgage Appraisal Tips: Laws & Requirements appeared first on All Reverse Mortgage.

  • Can I Opt for a Voluntary Life Expectancy Set-Aside? (LESA)

    Just learned of this feature, LESA. Am a current Reverse Mortgage holder and received a solicitation from a mortgage co. There’s a lot to absorb regarding RM’s and unless you are an educated real estate professional, it is virtually impossible to understand all the ramifications of these deals. Even with the “counseling” as required, total […] The post Can I Opt for a Voluntary Life Expectancy Set...

  • How Financial Assessment Made Reverse Mortgages Safer

    “This financial assessment process is conducive to making the Home Equity Conversion Mortgage (HECM) an even safer loan product.” If a potential borrower can swallow such an absurdity he need not be concerned about who this financial assessment ( FA ) is making the product safer for!  The FHA wants 1.25% insurance and will only […] The post How Financial Assessment Made Reverse Mortgages Safer app...

ALLRMC Company

Category: Content
Type: Blog Article

Generated 2 months ago

New blog articles detected

  • Can I get a reverse mortgage while in Chapter 13 bankruptcy?

    We are under chapter 13 bankruptcy would we be able to do a reverse mortgage? I am 64 my husband is 78   HUD has different requirements for the purchase program and someone who is doing a loan on their existing property.  If your desire is to utilize the reverse mortgage for purchase program, you […] The post Can I get a reverse mortgage while in Chapter 13 bankruptcy? appeared first on All Revers...

  • New Reverse Mortgage Rules Take Effect September 19, 2017

    HUD Publishes HECM Final Rule, but Defers on Interest Rate Cap and Reverse Mortgage Purchase Proposals The Department of Housing and Urban Development published FHA’s final HECM rule today formally adopting policy changes previously implemented by mortgagee letter and also making additional regulatory changes. Among the existing policies codified in the rule are: performing financial assessments, ...

  • Can I get a New Reverse Mortgage?

    I received notice from unnamed company indicating my property value has increased and I might be eligible for a new reverse mortgage with additional cash lump sum or increased line of credit. Is this a scam? We don’t participate in this type of marketing because we don’t agree with it but it is not a […] The post Can I get a New Reverse Mortgage? appeared first on All Reverse Mortgage.

  • Why Does a Reverse Mortgage Have a Balloon Repayment?

    With regard to balances going up and equity going down, this sounds like those nightmare balloon situations one hears of. Is the rate of interest fixed for the life of the loan, and is it possible to make payments against principle? You packed a lot into a very short comment/question! Any time a loan has […] The post Why Does a Reverse Mortgage Have a Balloon Repayment? appeared first on All Rever...

  • Can I get a Reverse mortgage Purchase with a Line of Credit?

    I am close to 62 years old and am looking to purchase a home with a reverse mortgage. After escrow is closed will I get either a line of credit or payments from this transaction? With a purchase reverse mortgage, most borrowers use all their eligible funds when they purchase the home and there are […] The post Can I get a Reverse mortgage Purchase with a Line of Credit? appeared first on All Rever...

  • Can my attorney review sample documents / loan agreement?

    If I decide on a reverse mortgage with your company, would you have any objections to my attorney reviewing the sample documents before signing? There is never a problem with your attorney reviewing anything you sign but I would just like to ask to which documents you are referring?  Do you mean the original application package, the […] The post Can my attorney review sample documents / loan agree...

  • What is the reverse mortgage interest cap

    Can the loan balance grow beyond the value of the house? I thought there was a cap of 60% of the value of the house? There is no “cap” on the amount of interest that can accrue. In many cases, especially if the value of the home declines as they have done in recent years, […] The post What is the reverse mortgage interest cap appeared first on All Reverse Mortgage.

  • Reverse Mortgages and Solar Panels: What You Need to Know

    As our homes age, it is not uncommon to invest in renovation projects that enhance our ability to age in place, especially if those upgrades help lower monthly utility bills. Installing solar panels is one effective solution to reduce your overall electricity expense, but if you’re a homeowner considering a reverse mortgage to support your […] The post Reverse Mortgages and Solar Panels: What You ...

  • Any Reverse Mortgage Programs for Condos NOT Approved?

    Do you consider non hud reverse mortgages? My condo association is not fha certified There are only a very few private or proprietary  programs available at this time. Prior to the mortgage market meltdown in 2009 – 2010, there were several but they were very slow to reemerge and there have been very few if any […] The post Any Reverse Mortgage Programs for Condos NOT Approved? appeared first on A...

  • Reverse Mortgages are LESS EXPENSIVE than alternatives

    Overcoming  Objections to Reverse Mortgage High Fees. Compared to alternatives.    Read about home equity conversion mortgages (HECMs), and read about those who object to them—often citing high fees and risks to tapping home equity. Like other financial products, reverse mortgages come with certain borrowing costs. But, by understanding how these costs break down, you may […] The post Reverse Mort...

ALLRMC Company

Category: Content
Type: Blog Article

Generated 6 months ago

New blog articles detected

  • Financial Assessment Update Takes Effect October 3, 2016

    Reverse Mortgage Financial Assessment Update Purpose The intent of this article is to announce upcoming updates to the HECM Financial Assessment and Property Charge Guide guidelines. Implementation These changes are effective for case numbers assigned on or after October 3, 2016.   New Requirements  SECTION NO. SUBJECT REVISED REQUIREMENT 2.14 Payment History on Housing Obligations Requirements […...

ALLRMC Company

Category: Content
Type: Blog Article

Generated 7 months ago

New blog articles detected

  • Reverse Mortgage Options When Spouse Dies

    If your spouse died and had a reverse mortgage loan, here's what you need to know and what options you may have. The post Reverse Mortgage Options When Spouse Dies appeared first on All Reverse Mortgage.

  • History of the Reverse Mortgage

      Reverse mortgages have been through a lot of changes in their short, 54 year (depending on who you ask) lifespan. As the story goes, the first reverse mortgage was written in 1961 to a woman in Portland, Maine by a small, local bank. The owner of the bank wanted to help the wife of […] The post History of the Reverse Mortgage appeared first on All Reverse Mortgage.

  • Reverse Mortgage Amortization Calculator | Free Excel Download

    An in-depth guide into reverse mortgage amortization schedules. We show you how interest amortizes his overtime and include a helpful Excel calculator for free download. The post Reverse Mortgage Amortization Calculator | Free Excel Download appeared first on All Reverse Mortgage.

ALLRMC Company

Category: Content
Type: Blog Article

Generated 7 months ago

New blog articles detected

  • Considering a Reverse Mortgage? Avoid These 3 Mistakes

      Reverse mortgage can be valuable retirement tools, but they need to be used responsibly. Like many other financial products, the effectiveness of reverse mortgages is only as good as the judgement of the borrowers who use them.   For homeowners age 62 and older, a reverse mortgage can provide an additional source of cash […] The post Considering a Reverse Mortgage? Avoid These 3 Mistakes appeare...

  • Reverse Mortgage for Purchase: Down Payment Requirements

    Instantly estimate your reverse mortgage purchase down payment. Provides illustration and HECM purchase calculations, rates & more. The post Reverse Mortgage for Purchase: Down Payment Requirements appeared first on All Reverse Mortgage.

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