The Reverse Mortgage Specialist's Blog

Ten years ago things were going great. The economy was great, income was great for Mr. & Mrs. Smith of San Luis Obispo, California.   Today things aren’t looking so hot. They are struggling to put food on their table and might even end up losing their home! What changed? The Home Equity Line of C...

 Last month I received a call from a very nice lady who lives in Modesto, California. The call actually came from the personal banker at Citibank where she banks.  Mrs. P had gone into the bank to talk about getting her line of credit refinanced.   Ten years ago she had got a home equity line of ...

Any time that we are going to take an application for a Reverse Mortgage, wether you live in Visalia, Fresno, or anywhere else in California, there are certain documents that we will need in order to process your loan. Some of the documents verify who you say you are, while others verify the inco...

Prior to April 27, 2015, seniors were not required to income qualify for a reverse mortgage.  All they had to do was make sure there was enough equity in the home to qualify. However, as of April 27, 2015, we can no longer just look at the home and order an appraisal. Seniors now have to qualify ...

This week I received a call from a very frustrated woman who was trying to help her elderly sister and brother-in-law understand the reverse mortgage that is currently on their home. Irene, the woman who called, was at her wits end. She has been working with her sister, the estate planning attorn...

My lender told me there is a seven day cooling off period before my appraisal can be ordered. What is that about? This is a very interesting question! Basically what our law makers want to do is give seniors a little more time to decide if a reverse mortgage is right for them after they have had ...

Each and every week, I receive calls from people who want to know if the reverse mortgage can actually help them.  Some, because of major medical issues, have used up their retirement and are living on their Social Security alone.  They call out of desperation as they need to make ends meet and a...

Traveling is such a fun thing to do. Traveling in an RV across the beautiful United States of American is a wonderful experience that far too few people get to experience.  Many people across the country plan cross-country trips stopping to visit monuments and mountains throughout this beautiful ...

With all of the negative publicity about how a Reverse Mortgage will put you or your loved one out on the street, I just want to clear this up. Reverse Mortgage for Seniors The real question is “Can a Reverse Mortgage put a senior out on the street?” The simple answer is yes! Just like a traditio...

 Many people have heard of the dangerous and risky reverse mortgage. They have been warned to never get one.  Most of these people simply do not understand what a reverse mortgage is and how it works.A Reverse Mortgage is very much like a traditional mortgage, except with a traditional mortgage t...