How to Make Your Home "Retirement Ready" Moving when you're entering retirement, or worse yet, when you've been in retirement for a few years, is the worst. I know because I've moved, we all have, and it's always a hassle.  Where do I move? How fast can I sell my house? How fast can I get a new house? Can I afford it? What do I take and what do I leave? If you want to age in place, however, then it's time to consider a reverse mortgage. Why? It can help improve your home in order to age in place, pay for (un)expected costs or give you the peace of mind you want (and need) during retirement. A study done last year, presented in Reverse Mortgage Daily, found that 90% of older Americans intend to age in place and 74% of them intend to modify their homes to in order to make it more hospitab... 11/19/2013

Rented Home in Miramar 17714 SW 19th  Miramar, FL 33029 by Green Realty Properties         Great 4/2 upgraded home w/designer kitchen & baths. Granite counters, wood cabinets, stainless appliances & top of the line fixtures. This home also features tile in all main areas w/pergo in the bedrooms.                   Green Realty Properties found the tenants of this beautiful home at 17714 SW 19th  Miramar, FL 33029 for $ 2,000 rental.            11/06/2013

South Fla real estate news- Help Buyers stand out in a multiple-offer! South Fla real estate news- Help Buyers stand out in a multiple-offer!   FREE LIST of Today's Short sale homes for sale in Weston, Cooper City, Davie, Sunrise, Miramar, Southwest ranches, Plantation. FREE LIST of Today's Foreclosures for Sale in Weston, Cooper City, Davie, Sunrise, Miramar, Southwest ranches, Plantation.   Fannie Mae changes mortgage loan restrictions On Nov. 16, Fannie Mae's minimum loan downpayment goes from 3% to 5% and loans top out at 30 years - but unlike FHA, it doesn't require upfront costs. Read more. Home flipping down 13%, but high-end flipping up 34% RealtyTrac: Some hot cities for home flips, including Tampa and Orlando, saw a drop in 2013's third quarter. Overall, Fla. second to Calif. ... 10/18/2013

South Fla real estate news-Hackers take control of Internet appliances South Fla real estate news-Hackers take control of Internet appliances   FREE LIST of Today's Short sale homes for sale in Weston, Cooper City, Davie, Sunrise, Miramar, Southwest ranches, Plantation. FREE LIST of Today's Foreclosures for Sale in Weston, Cooper City, Davie, Sunrise, Miramar, Southwest ranches, Plantation.   ‘Strategic default’ ex-owners face debt collectors The feds plan to crack down - and demand the loan balance - from some people who walked away from a home's mortgage even though they could still afford it. Read more. Google ad plan: Use comments in marketing Following on the heels of Facebook, Google will allow company ads to showcase the names, photos and comments of users who submitted web revie... 10/16/2013

FHA Urges Lenders to NOT Charge Late Fees Due to Shutdown In addition to their contingency plan, HUD is making strides in order to ensure that borrowers continue to be well insulated during the shutdown. Strictly speaking, borrowers who are going through financial hardships, as a result of the shutdown, and are unable to keep up with their financial obligations for the time being. For Carol Galante, the commissioner and assistant secretary for Housing at FHA, it's crucial that all lenders and mortgagees help out borrowers during this time. In a letter for all reverse mortgage professionals, Galante urges mortgagees extend an informal forbearance and seek out available loss mitigation options for government employees affected by the shutdown, in order to avoid foreclosure for the time be... 10/14/2013

Mike Anderson in his column published in NerdWallet states:  "Reverse Mortgage Changes Make Retirement Harder..." I resent the implication because Anderson is saying that retirement is getting harder for seniors BECAUSE the reverse mortgage program has changed, implying that A equals B. This is not true.  To be honest, I've done posts before about the current state of retirement in America, and it paints a grim picture even before these changes were to be implemented. The reverse mortgage is an OPTION for retirees planning their retirement or looking to secure a "rainy day fund" on top of their current income but it is not the be all and end all of retirement. In fact, that kind of thinking is what has brought upon the changes Anderson is talking about in the first place. The reverse mo... 10/10/2013

Non-Borrowing Spouses Benefit from HECM Loan Counseling As Well HECM Loan counseling is an essential part of any reverse mortgage transaction. Those who tell any client otherwise are lying. Reverse mortgage counseling is a safeguard against unethical practices, ensuring that consumers who apply for a reverse mortgage are fully aware of the in's and out's of the program. In addition, counseling makes sure that consumers are aware of their financial obligations, such as homeowner's insurance and property taxes, before they sign on the dotted line. Personally, I go over every document with the client face-to-face as well, even if they are have been to counseling. A successful reverse mortgage transaction is one in which the consumers fully understand what they're getting and what they're g... 10/08/2013

HECM Loan Changes...What They Mean for Borrowers: Part 3 of 3 The changes to the reverse mortgage program will affect everyone. From HUD to brokers to borrowers, these new changes are poised to change the reverse mortgage program (as we know it) completely. For borrowers, these changes will affect the amount they can potentially receive, if they are able to qualify at all. The new financial assessment, coupled with mandatory set-asides, which will be implemented on January 13, will affect who will and who will not qualify for a reverse mortgage. It's scary to think about, especially for those borrowers who see the reverse mortgage as a "last resort," but maybe that's the problem. The more the reverse mortgage is used a last resort, the greater risk of that the borrower will go into defa... 10/01/2013

Who Will Care for Baby Boomers in the Future? Times continue to change for baby boomers--and not just in terms of when they will retire and how they will pay for it--but also about who will care for them in their 70s and 80s.  A recent study, conducted by the AARP, documented the "caregiver support ratio"  in order to assess the declining availability of family caregivers to meet the demands for long-term services and support in the future. The study, which paired a potential caregiver (aged 45-64) with one person 80 years of age and older, found that potential caregivers will shrink from 7.2 to 1 in 2010 to as little as 2.9 to 1 by 2050. How is this possible? Well, succeeding generations are having less children so they will be less able-bodied family members to take care of baby boome... 09/20/2013

Does Less Money Mean Less Problems? The changes to the reverse mortgage program are becoming a reality. By the end of September, the reverse mortgage program (as we know it) will be gone, and with it, the old principal limit factors. According to an article in Reverse Mortgage Daily, the new principal limit factors under the consolidated reverse mortgage program, will be, roughly, 15% less than HECM Standard PLF for 2011. In a nutshell, if a borrower could qualify for a HECM loan for the full 60%, under the new program they would receive 50% of that. Or, if a borrower could qualify for 58% of the HECM loan, they will receive 48% under the new program. In my opinion, these changes will bring more stabilization to the reverse mortgage program, making the program safer, overall, for curren... 09/19/2013

South Fla real estate news- HUD rule can make more eligible for loan South Fla real estate news- HUD rule can make more eligible for loan   FREE LIST of Today's Short sale homes for sale in Weston, Cooper City, Davie, Sunrise, Miramar, Southwest ranches, Plantation. FREE LIST of Today's Foreclosures for Sale in Weston, Cooper City, Davie, Sunrise, Miramar, Southwest ranches, Plantation.   New HUD rule could make more eligible for mortgages Though it probably won't. An ex-owner could qualify for a new mortgage only one year post-foreclosure or bankruptcy, but most banks still won't take the risk. Read more. Fla. CFO rolls out healthcare webpage for small biz Brokers: CFO Atwater unveiled small business Q&A webpage, scheduled webinars and offered a warning: Watch out for health insurance ... 09/17/2013

South florida real estate news- Jumbo loans cheaper than conventional South florida real estate news- Jumbo loans cheaper than conventional   FREE LIST of Today's Short sale homes for sale in Weston, Cooper City, Davie, Sunrise, Miramar, Southwest ranches, Plantation. FREE LIST of Today's Foreclosures for Sale in Weston, Cooper City, Davie, Sunrise, Miramar, Southwest ranches, Plantation.   Jumbo loans cheaper than conventional for first time It's historic: Interest rates for jumbo mortgages have dropped below the average rates for conforming mortgages, lenders say. Read more.   Studies take early look at health law's premiums Key question: How much will Obamacare cost me? Many variables, but a decent "silver" policy will be about $190 monthly for single adults making $29K yearly. Read ... 09/08/2013

The Biggest Retirement Concern... Financial Security The finance problem continues to be...well, a problem. Older Americans are looking at their finances and starting to worry more about their income during retirement than the deterioration of their health.  It's shocking to say the least, especially because health problems can often lead to financial problems, because of high health-care and prescription medicine costs, but a recent United States of Aging survey says otherwise, according to an article published in Reverse Mortgage Daily.  In fact, 53% of the participants are concerned about whether or not their savings and income will be sufficient to last them the rest of their lives, reports the article, while 33% remained unconcerned about their future finances. The point being, fut... 09/06/2013

The Benefits of Reverse Mortgage Counseling The importance of reverse mortgage counseling is growing. In June, the Department of Housing and Urban Development awarded the new funding, in the form of $40 million, to housing counseling agencies in hopes of sustaining HUD-approved counseling. The funding went toward helping new and existing home buyers manage their money as well as achieving financial security in the present and in the future.  In the past, I've had clients complain about having to sit through reverse mortgage counseling but I think that it is highly beneficial to homeowners looking to apply for a reverse mortgage. For example, reverse mortgage counseling takes away the possibility that a fraudulent mortgage broker--who will take advantage of a senior borrower--because eve... 08/30/2013

Housing report for Miramar FL for August 2013 Real estate market data provided by your local expert, Jacob Thomas- REMAX Presidential Housing report for Miramar FL for August 2013  The City of Miramar is located in Southwest Broward County, is approximately 31 square miles and is home to over 40290 residents. Miramar loosely translates from Spanish as "sea view" or "sea sight," though it is not located directly on the Atlantic Ocean. The city is bordered by the following municipalities: Miramar is bordered by Pembroke Pines to the north, Hollywood to the northeast, West park to the east and Miami- Dade county to the south. Headquarters for Spirit air, Carnival Cruises and Royal Caribbean Cruise lines are located in Miramar, employing 1000’s of people. Many trade schools like Devry Unive... 08/26/2013

The Benefits of a Reverse Mortgage Line of Credit Option Financial Columnist Jane Bryant Quinn says: "Take a Line of Credit Now" The reverse is changing. By the end of September, the program that you and I know as "the reverse mortgage program" will no longer exist. How is this possible? The HUD is merging the two existing products into one and creating new guidelines to determine who will qualify for the reverse mortgage. These changes, coupled with rising interest rates (which are currently at an all-time low) will affect the amount of money you can receive if you wait to take out the reverse mortgage.  One of the common reverse mortgage misconceptions, however, is that reverse mortgages are just for the financially desperate. I want to stress, this is not true. In fact, the line of c... 08/24/2013

Reverse Mortgages in Broward County, Florida Reverse mortgages, also known as Home Equity Conversion Mortgages (HECM), get a bad reputation for being the next subprime disaster waiting to happen. I beg to differ. The reverse mortgage is an available tool for homeowners, 62 years of age or older, which occupy the property as their primary residence. What makes the reverse mortgage different from other mortgages? The borrower does not have to make monthly payments on the mortgage as the interest and service fees build up over time. Also, there is no income or credit requirement allowing those who own a home with equity, but have bad credit or a poor income, to be eligible for a reverse mortgage.  The reverse mortgage can be used in a variety of ways: It can be used to pay off an existing ... 08/22/2013

What Does Your Name Say About You? It's not a question we ask often enough. We ask: what does our name mean? And then we get interested when it means something like "strength" or "beauty" or "hope" but what does your name say about you is a different question. It's kind of like when someone asks you for your horoscope to determine what kind of personality you have or "what's in the stars" for you this month. What your name says about you could be just as important in understanding your personality as your horoscope (if you believe in all that) because, as much as we deny it, names carry meaning and associations.  Aren't we captivated by the name Aurora? Or put off by the name Adolf? It happens! We make judgments about people based on names. There's even a list of the most villainous nam... 08/09/2013

Don't Get Lost (in Translation)... I try to speak as clearly as possible, especially if I'm leaving a voice-mail on an answering machine. Still, it happens: things get lost in translation. It's like telling a story in school, from early in the morning up until the final bell. Something is bound to get mixed up, and the story you started with, is no longer the story you end up with. However, there are a few ways to minimize the "lost in translation" syndrome: Keep the message simple. Half of the time, things get lost in translation because of how convoluted the message is. A long, overblown story, for example, is less likely to be remembered (an repeated correctly) than a short, simple one. If you call a client and leave a message in their voice-mail, keep it clear and concise. A big, fl... 08/06/2013

If you've been kept awake at night by the thought of "how to stop a foreclosure on my home", you're not alone. It's been estimated that one in 200 homeowners are in serious risk of foreclosing on their properties. The good news is that there are actions and alternatives that you can take to prevent foreclosure.First of all, you should try to build up your savings in case of emergencies. Every home owner needs at least one to three months worth of mortgage payments PITI (Principle, Interest, Taxes and Insurance) in savings just in case of hardship plus your other obligations.Secondly, make sure that you have established a home equity line of credit. This is a form of revolving credit in which your home serves as collateral. If something happens to come up that threatens you with foreclos... 08/01/2013