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Changes to the Reverse Mortgage Program Has Positive Effect Amid the news that the positive press for the reverse mortgage program have surged in the past months and FINRA's declaration that the reverse mortgage is no longer a loan of last resort, individual financial planners are beginning to se...
Positive Press Surges for Reverse Mortgages During June The recent changes to the reverse mortgage cam swiftly last September 30 and changed the landscape of the reverse mortgage program for future borrowers. One of the biggest hurdles since the changes, however, has been combating the establishe...
NRMLA Reissues Ethics Guidance for HECM-to-HECM Refinance After Recent Changes The reverse mortgage program continues to change for the better, this time making more proceeds for older borrowers. According to an article published by Reverse Mortgage Daily, at an interest rate of 6% borrowers who ...
CFPB's Interpretive Rule on Mortgages Benefits Borrowers and Heirs The Consumer Financial Protection Bureau has issued an interpretive rule that will allow heirs to take over the mortgage of their loved ones when the borrower dies. According to an article in Reverse Mortgage Daily, CFBP's clarifi...
Using a Reverse Mortgage for Changing Retirement Plans The reverse mortgage is still a viable option for seniors hoping to pay off their mortgage and continue to live debt free during retirement, but very few take advantage of it. In fact, according to a nationwide survey, presented at the Nation...
Ever Use the Rocking Chair Test…? Have you ever thought back on your life? What you could have done differently? What you could have improved on? Have you ever thought of the decisions that led you to where you are? That's exactly what the Rocking Chair Test is all about. Bruce Kasanoff, a Linked...
HECM For Purchase: Downsizing With a Reverse Mortgage Back in 2008, Congress authorized a HECM for Purchase programs, allowing seniors, for the first time, the ability to buy a house and take out a reverse mortgage at the same time. This option continues to be the best option for older Americans ...
What's the Largest Asset in Your Retirement Portfolio? According to an article published in Reverse Mortgage Daily, housing assets continue to be the largest dominant force in many senior retirement portfolios, revealed a report from the Mortgage Bankers Association's Research Institute for Housi...
 The Reverse Mortgage Industry Teams Up with Financial Planners There's been a push for financial planners to team up with lenders as soon as the reverse mortgage changes were implemented. Personally, I think financial planners will provide a big boost to the reverse mortgage program. The program...
Senate Launches Senior Anti-Fraud Hotline for Seniors In an effort to better protect seniors from falling victim to investment scams or internet thief, the Senate Aging Committee has launched an anti-fraud hotline where seniors or relatives can call and report if they suspect or feel they have fa...

Phil Stevenson, CRMP

"Mortgage Nerd" in Miami, Florida and Texas
Ask Me About the NEW Reverse Mortgage Program!