Jay Beckingham's (jayb) Blog

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Mortgage and Lending - Bank of England Mortgage - 385907
RECENT BLOG POSTS
When I was first introduced to this program my response was ... really, get outta town.A true second mortgage, leaving the first in place, up to 4 million (minus the first balance).So i can do home improvements, debt consolidation, buy a condo at the beach cash, a place for my kids to live will t...
06/15/2019
Okay Seniors, this one's real cool!Now remember, when I say Proprietary Reverse that means we have the capacity to deliever a mortgage up to $4 million, with optional monthly payments. So if you so choose, you need not make any payments for...well let's say; the rest of your life.So why do I like...
06/12/2019
When I describe the features of a Proprietary Reverse Mortgage to one (or more) of my Realtor friends, without telling them what it is, or what it is called, I almost always get intense interest, and why shouldn't I?Today, I'm going to stick with the value to my Realtor friends, which is to creat...
06/10/2019
let's just look at what everybody knows, well maybe everybody knows, or hopefully everybody know, or maybe somebody knows. a Reverse Mortgage does not require the buyer (purchase) or the homeowner (refi) to make a monthly payment! So let's say the required principle and interest payment is $1,000...
11/07/2018
the British are coming, the British are coming...so said Paul Revere well, the proprietary reverse mortgages are coming doesn't play as well, except that they are, and they will.so, what are they?a proprietary reverse mortgage, in essence, is a reverse mortgage product tailored to meet the needs ...
11/01/2018
back in the day when we had the great RE adjustment many of my Realtor friends had put traditional equity lines of credit in place on their homes. they did so in case their income was reduced, or became unstable. Then they could use the equity line to ride out the storm until the market recovered...
10/19/2018
well, I don't know...actually I do. Most reverse mortgages, or the most popular reverse mortgages are the FHA HECM (home equity conversion mortgage). They are insured by the FHA (US gov) and have a very distinct and powerful option, that being the guaranteed, and growing equity line of credit whi...
10/15/2018
Okay, so what's the one thing everybody knows about reverse mortgages?you don't have to make any monthly payments, right? ever, correct?but you also know that you can if you want, right? So, No MONTHLY PAYMENTS that's pretty cool, so what does that mean? what's the impact? well, if your principle...
10/10/2018
here's a question that I get a lot.can you use a reverse mortgage to purchase a home? two pieces of information to consider before evaluating why this question is sooooo important over 10,000 people are turning 62 every day...that's every day folks!1/3 of the population will be 65 years old or ol...
10/08/2018
there are a lot of interesting things happening in the Reverse Mortgage industry, but as a Reverse Mortgage Planner I keep a close eye on the advisors, the Loan Officers, the Reverse Mortgage Planners...the me's so to speak, as I am a Reverse Mortgage Planner.so here's the question?Who exactly ar...
10/06/2018
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