Reverse Mortgage Blog

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Mortgage and Lending - NMLS#279499
In this blog, I go into detail on reverse mortgage information through questions seniors and their families ask, industry news and current events, new program & rate options, client stories and experiences and more. From my 21 years experience as a reverse mortgage specialist, I can help guide and educate you and answer the question, is a reverse mortgage right for you and if so, what is the best option with lowest costs, interest rates and payment plan. I am easily accessible and will be happy to talk with you. Maggie O'Connell direct line 800-489-0986
RECENT BLOG POSTS
  2015 Brings new rules for California Reverse Mortgage Borrowers   A reverse mortgage counseling cooling off period is required for all seniors applying for the FHA insured HECM Reverse Mortgage as of January 1st, 2015.  A disclosure form, Important Notice to Reverse Mortgage Loan Applicant and ...
01/06/2015
It is very important to understand when a reverse mortgage becomes due and payable and to inform the executor of your estate of the reverse mortgage requirements.  Since reverse mortgages do not require monthly mortgage payments, the interest and loan charges accrue creating a higher loan balance...
11/29/2014
Reverse Mortgage Counseling with no Cost A number of HECM Reverse Mortgage Counseling Agencies are providing counseling sessions with no cost at this time.  These are counselors who have received grants and are able to educate seniors on reverse mortgages and provide a counseling certificate.  Wh...
10/20/2014
Refinancing a Reverse Mortgage Can Benefit Borrowers in Many Ways    If you have a reverse mortgage, you may not realize it can be refinanced.  Many of my past customers are surprised to learn they can refinance their reverse mortgage and not only get more money because either their home increase...
10/11/2014
Jumbo Reverse Mortgages are Back! Offered in these states initially: California, Hawaii, New Jersey & Florida Reverse Mortgage for Purchase and Refinance of High Value Homes and Condos   The first proprietary or #jumbo reverse mortgage to come out since the housing crisis in 2008 is the HomeSafe ...
09/07/2014
Jumbo or Propriatary Reverse Mortgages will be offered in California, Florida, Hawaii and New Jesery  Condos that don't qualify for HECM are acceptable The HomeSafe private reverse mortgage will be available on September 2nd, 2014 for homes and condominums in five states and will be rolled out in...
08/24/2014
Reverse Mortgages & MIP   While we're expecting private reverse mortgages to come back into the marketplace, at this point, over 95% or reverse mortgages written today are the FHA insured variety known as HECM or Home Equity Conversion Mortgage.  With FHA loans comes mortgage insurance.  Many peo...
08/12/2014
The Appraisal is A Critical Step in the Reverse Mortgage Process - Are You Ready? You've done your reverse mortgage counseling, completed the HECM application and it's time for the appraisal.  In order to avoid a re-inspection (and an extra fee of at least $100) do your own inspection of your hom...
05/31/2014
New rules for reverse mortgages where a spouse will not be on the loan. On August 4, 2014, non-borrowing spouses will be able to remain in their homes even after the death of their spouse & reverse mortgage borrower. They will be able to defer the due and payable status of the loan under the sam...
05/03/2014
US Home Price Comparison Maps  States where seniors are using Reverse Purchase Mortgages Comparing the two maps below provide a good look at where we are today with where we were before the housing crash. For seniors looking to tap into there equity with a Reverse Mortgage, it's clear the recover...
04/18/2014
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Maggie O'Connell

Reverse Mortgage Purchase Specialist
local_phone(800) 684-9438
smartphone775-770-0870
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In this blog, I go into detail on reverse mortgage information, through questions seniors and their families ask, industry news and current events, new programs; rate options, client stories and experiences and more. From my 20 years experience as a reverse mortgage specialist, I can help guide and educate you and answer the question, is a reverse mortgage right for you and if so, what is the best option with lowest costs, interest rates and payment plan. I am easily accessible and will be happy to talk with you. Maggie O'Connell direct line 800-489-0986 maggie@rmstore.net www.ReverseMortgageStore.com NMLS #279499 Equal Housing Opportunity/ 411500