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Miami Lakes, FL Real Estate News

By Phil Stevenson, CRMP, "Mortgage Nerd" in Miami, Florida and Texas
(PS Mortgage Lending 305-791-4874 or 888-845-6630)
Work to Live or Live to Work...Where Do We Draw the Line? It's an important question. It's also one that many people have been asking themselves since the death of Bank of America Merrill Lynch intern, Moritz Erhardt (or at least I have). If his death says anything, is that we work too much, stress too much, worry too much, and eventually, all these happen can lead to a very dark place. I'm not saying give up everything and go live a life of leisure and relaxation because that's not realistic but we should take a step back and evaluate how much we work versus how much we rest (relax).  One of the things I love about my job is that my hours are flexible. I can determine when I work and how much I work but not everyone has the same luxury. In which case, they should take the time to deter...
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By Phil Stevenson, CRMP, "Mortgage Nerd" in Miami, Florida and Texas
(PS Mortgage Lending 305-791-4874 or 888-845-6630)
Three Sure Fire Ways to Ruin Your Retirement I've talked about ways to supplement your retirement before because, the fact of the matter is, Americans don't seem to care enough about planning or saving for retirement. I don't want to sound like a broken record but it's true. As much as we hear about it, there still seems to be a disconnect between the style of living retirees want to maintain and the amount they are saving to ensure they maintain that style of living.  Having said that, there are sure fire ways to ruin your retirement. It seems impossible but it happens, and continues to, because retirees are unaware of what retirement can cost, whether you live at home or in a retirement community.  An article in Daily Finance, "How to Ruin Your Retirement in 3 Steps," outlines the thr...
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By Phil Stevenson, CRMP, "Mortgage Nerd" in Miami, Florida and Texas
(PS Mortgage Lending 305-791-4874 or 888-845-6630)
Happiness...It's a Daily Endeavor I admit it, I'm not always a shiny, happy person. Does that mean I'm a grouch? No. I have my bad days just like anyone. You know what I'm talking about...those days where you wake up on the wrong side of the bed. You're exhausted. You have a full day of work ahead of you. It's raining or snowing or hot. On top of all that, there's no coffee. Exactly.  However, I do try to have more good days than bad days. One site, however, is trying to be Happier, all day, every day. I have to commend Nataly Kogan for her website because it's something that people don't try enough. According to an article in ABCNEWS, 'Shiny, Happy People Have a Site to Call Their Own,' Kogan co-founded Happier when working at Microsoft and selling a multimillion-dollar company to PayP...
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By Phil Stevenson, CRMP, "Mortgage Nerd" in Miami, Florida and Texas
(PS Mortgage Lending 305-791-4874 or 888-845-6630)
Reverse Mortgage Calculators in Palm Beach County, Florida Many reverse mortgage sites, including my own, have a reverse mortgage calculator in place to help potential clients gauge if a reverse mortgage is right for them before contacting a broker or lender. Many ask the obvious question such as your age, the value of your home and your current mortgage balance. Nonetheless, when considering a reverse mortgage it is always best to talk to a representative in person before fulling deciding to commit. In the end, every case is different and none should be handled in the same manner as those that came before it or those who will come after. The specifics of a case differ from client to client and it is my job to decide how a reverse mortgage can work best for you depending on your situati...
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By Stephanie Leon | Miami Lakes Realtor®, Turning For Sale Into SOLD!
(Realty Empire Incorporated)
 Get to know the Town of Miami Lakes   “Houses can form a neighborhood but only people can make it a community." Community is an essential part of family, of lifestyle, and of real estate.   Understanding local conditions in the Town of Miami Lakes is important when it comes to buying and selling real estate, but the neighborhood you choose can have a dramatic impact on all other aspects of your life as well. Please feel free to browse through the complimentary Miami Lakes information I’ve provided. When it’s time to move, call me to get a representative on your side who has experience, Miami Lakes real estate market knowledge, and the confidence to help you make the best transaction possible.   Community Information Town of Miami Lakes is more vibrant than ever!  There is always somet...
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By Phil Stevenson, CRMP, "Mortgage Nerd" in Miami, Florida and Texas
(PS Mortgage Lending 305-791-4874 or 888-845-6630)
The Reverse Mortgage Program is About To Change Following President Obama's signature of approval and the Senate's decision to pass the Reverse Mortgage Stabilization Act of 2013, which gives the Federal Housing Administration the authority to implement changes that will stabilize the reverse mortgage program, the FHA has announced that the new changes will come in August at the earliest, and will be fully implemented by October, according to an article published in Reverse Mortgage Daily. The changes will be disclosed via a Mortgage Letter, which should arrive at the end of August, and the Department of Housing and Urban Development is hopeful that the changes can already be in place by October 1: “However, FHA will take care to ensure it and the industry have sufficient time for an op...
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By Phil Stevenson, CRMP, "Mortgage Nerd" in Miami, Florida and Texas
(PS Mortgage Lending 305-791-4874 or 888-845-6630)
The Reverse Mortgage Program (As We Know It) Is GONE...October 1st! The Department of Housing and Urban Development, and reverse mortgage industry as a whole, has begun to slowly reveal what their plans are for the reverse mortgage program, following the Senate and Presidential approval of Reverse Mortgage Stabilization Act of 2013. According to an article published in Reverse Mortgage Daily, "HUD to Combine Existing Reverse Mortgage Products," at a recent conference call for the National Reverse Mortgage Lenders Association, the HUD Deputy Assistant Secretary Charles Coulter, explained the proposed changes. Proposed changes, aside from those initially sought to stabilize the program, include the introduction of a new reverse mortgage loan program all together!   In effect, HUD will dis...
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By Phil Stevenson, CRMP, "Mortgage Nerd" in Miami, Florida and Texas
(PS Mortgage Lending 305-791-4874 or 888-845-6630)
If You Work During Your Vacation...Is it Still a Vacation? I guess depends on your definition of vacation. The fact of the matter is, "vacation" doesn't mean what it used to, and the introduction of mobile devices, that are just as good as laptops (but twice as small), as well as Wifi have made it close to impossible to fully disconnect. I understand though and I have been guilty of it. I don't want to disconnect completely and come back to an overflowing inbox or a voicemails in the triple digits, so I'm never completely away.  Is this bad? Well, according to a blog post in the Miami Herald, it might actually be a good thing. The key is to create a schedule that allows to you enjoy your vacation to the max while still keeping up with what's going on at the office. The post does not sug...
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By Stephanie Leon | Miami Lakes Realtor®, Turning For Sale Into SOLD!
(Realty Empire Incorporated)
  The FBI arrested two South Florida mayors Tuesday morning on kickbacks and bribery-related charges.    Aug 6, 2013   The FBI said in a press release agents arrested Miami Lakes Mayor Michael Pizzi and Sweetwater Mayor Manuel "Manny" Marono at their offices and charged them in two separate complaints involving public corruption allegations.   The complaints say the mayors and two lobbyists were involved in two separate schemes, one in connection with purported federal grants for Sweetwater and the second in connection with grants for Medley and Miami Lakes.Both mayors face charges of conspiracy to commit extortion under color of official right. Miami Lakes Mayor Michael Pizzi and Sweetwater Mayor Manuel "Manny" Marono were taken into custody at their offices, the US Attorney's Office i...
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By Stephanie Leon | Miami Lakes Realtor®, Turning For Sale Into SOLD!
(Realty Empire Incorporated)
  I love my career as a Real Estate Broker. Especially when you see the impact you have on peoples lives, by turning their dreams into reality. I am proud to be a Realtor.       Alejandro T. Buyer      “ Just a few months ago, I got in touch with Stephanie Leon to help me and to advise on the purchase of a property as a result, of her professional help I was able to carry out my dream successfully and in a short time. With these words, I would like to thank her for her dedication with which she carries out her work and for the personal treatment, she gave me. Stephanie is more than my agent, I considered her my friend. ...more ”        The above property just sold in Miami Lakes, FL by Stephanie Leon July 2013If you are thinking of selling or looking to buy, feel free to contact me at i...
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By Phil Stevenson, CRMP, "Mortgage Nerd" in Miami, Florida and Texas
(PS Mortgage Lending 305-791-4874 or 888-845-6630)
Are 'Empty Nests' a Thing of the Past...? It used to be that parents would have their children, take care of them, watch them go off to college and never come back (only visited) unless something dire happened. Since the 2007-2009 recession, however, it seems like senior homeowners are experiencing less of an empty nest and more of an overflowing nest. Children, grandchildren, sisters, brothers, everyone that was supposed to move out, has either come back or moved back in and now, a nest that was supposed to be empty, is full to capacity.  This recent trend has put a hamper on the previously established retirement idea that you and your spouse will be alone in your retirement. Why is the nest overflowing? Many reasons: Bad economy Lack of Jobs Bad Housing Market More Children Extended L...
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By Phil Stevenson, CRMP, "Mortgage Nerd" in Miami, Florida and Texas
(PS Mortgage Lending 305-791-4874 or 888-845-6630)
Can Creative Retirement Planning Save Older Americans...? It's the question everyone keeps asking themselves without really find a clear answer for it. In truth, it's been known that retiring in the current financial climate would be a hassle but after working 30+ years, older Americans expect a return for their investment and it's not coming. According to an article published by Reverse Mortgage Daily asking: 'is now the worst time to retire?', Bankrate reports that the amount needed to maintain an investment portfolio is rising while returns on those same investment portfolios remain the same. Bankrate reports that a $1 million dollar portfolio with 60% stocks and 40% bonds might run out in 25 years or even sooner, given inflation and interest rates.  It's a scary thought to consider,...
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By Phil Stevenson, CRMP, "Mortgage Nerd" in Miami, Florida and Texas
(PS Mortgage Lending 305-791-4874 or 888-845-6630)
Retirement Savings Gap Reaches $14 Trillion... It's Time to Start Saving With a Reverse Mortgage Retirement savings, savings in general, seem to have fallen by the wayside according to an article published by Reverse Mortgage Daily, which states that a recent report by the National Institute on Retirement Security has found that the average working household has virtually no retirement security. The report also found that many households miss their conservative retirement savings target based on their income and age until the age of 67. If this is true, that means that the average Americans does not start to save conservatively--or make retirement plans--until they are well into their retirement and possibly facing impoverishment because of rising expenses (expected or otherwise) on a f...
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By Phil Stevenson, CRMP, "Mortgage Nerd" in Miami, Florida and Texas
(PS Mortgage Lending 305-791-4874 or 888-845-6630)
A Blog By Any Other Name...Is Not Your Blog Your blog is you, make it your own. Blogs are still a relatively new thing. It's a new thing that's quickly catching on but still, it's new, compared to other forms of communication. Nonetheless, blogs provide an interesting outlet for establishing your personality on a page, and making yourself stand out in a sea of endless blogs. How? Be as detailed as you like. Unless you work for a newspaper or magazine, you can't be as detailed as you like when writing about your business. Notice those commercials or tv spots: they only last 30 seconds (if you're lucky). Blogs, however, let you to take as long as you need to get your message across. You can even do 2 or 3 part posts because the amount of writing space available is endless, it's up to you ...
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By Phil Stevenson, CRMP, "Mortgage Nerd" in Miami, Florida and Texas
(PS Mortgage Lending 305-791-4874 or 888-845-6630)
The Less You DRIVE...The Less You DO I'm always driving. Even if I wasn't a reverse mortgage broker, I'd still be driving because I live in Miami.  Could I survive without driving? Probably. Do I want to? Not really. I dread not having the ability to go somewhere when I want to. It's frustrating, infuriating and inconvenient. Not to mention, relying on someone to chauffeur you around. That's just horrible for all those involved.  So when I read that fewer teens are obtaining driver's licenses I couldn't help but stop and wonder: What's going on?  Driving used to mean freedom, a touch of rebellion, and one of the signs of upcoming adulthood. Your parents drove you around, now, as a young man or woman, you would take on that responsibility. It was the beginning of you being responsible fo...
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By Phil Stevenson, CRMP, "Mortgage Nerd" in Miami, Florida and Texas
(PS Mortgage Lending 305-791-4874 or 888-845-6630)
Successful Social Media Marketing Takes Time (and Effort) You bought the books, you took the classes, you learned what was necessary, but now you have to implement it. You have to get on ActiveRain and Twitter and Facebook and starting producing good, viable content that your readers, followers, and friends will like so that they can pass it on. However, there are things to know before starting the social media marketing campaign that could potentially boost your sales or crush you if done improperly. Know Your Target Audience. How do you expect to produce good content if you don't know who you're writing for? It's one of the reasons why there is fragmented advertising, genres and different types of mortgages. My niche is the reverse mortgage program, so before I start, I need to know t...
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By Phil Stevenson, CRMP, "Mortgage Nerd" in Miami, Florida and Texas
(PS Mortgage Lending 305-791-4874 or 888-845-6630)
Solutions to a Reverse Mortgage with a Non-Borrowing Spouse It doesn't always happen but it can. You are becoming increasingly impoverished during retirement under the crushing weight of mortgage payments, medical bills and other unexpected expenses.  You consider a reverse mortgage because you are 62 years of age and older, live in your primary residence and have enough equity in your home in order to qualify. One problem though, your spouse donesn't qualify for the reverse mortgage. WHY? They are younger than 62.  They are younger than you are, possibly affecting the amount of money you are eligible to receive. WHAT DO YOU DO? One possible solution is...you can go ahead with the loan application and remove your spouse from the title of the house so that only you apply for the reverse ...
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By Phil Stevenson, CRMP, "Mortgage Nerd" in Miami, Florida and Texas
(PS Mortgage Lending 305-791-4874 or 888-845-6630)
When is Competition Unhealthy? When it doesn't benefit the consumer... Is competition healthy for the economy? Of course it is. It offers consumers a variety of products and prices and forces companies who charge higher prices to either lower them or create a more affordable line of products. If this is true, why is the reverse mortgage market so exclusive? The answer is that reverse mortgage are an niche market in and of themselves. They are only available for homeowners 62 years of age and older, who live in their primary residence and have enough equity in their home. Richard Booth, however, disagrees. In an article published yesterday by American Banker, Booth states: "What this niche, but growing market, needs is more non-government-backed lending.  Competition will drive down cost...
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By Phil Stevenson, CRMP, "Mortgage Nerd" in Miami, Florida and Texas
(PS Mortgage Lending 305-791-4874 or 888-845-6630)
When is Color 'Too Much Color'? It's difficult to know! Whenever I'm writing a new post, I always have to ask myself this question because I like color. I like how it calls attention to things in your post, in a sense, and focuses the reader's attention on the most important details before they decide to read the whole thing. Sure, bold and underlining works great, but they can get lost in the shuffle of a long post when the reader barely gets pass the first paragraph and clicks 'NEXT!' It guides them, if you think about it, to a mini summary within your posts, so that they know what they are getting into. However, I recently took a Webinar where it was stated that using color in consumer-targeted posts was a bad idea.  I don't know what to do now.  Excess color comes off as unprofessio...
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By Phil Stevenson, CRMP, "Mortgage Nerd" in Miami, Florida and Texas
(PS Mortgage Lending 305-791-4874 or 888-845-6630)
The Negative Effect of the Media Is the media helpful? It's a question we keeping asking ourselves because the immense benefits of a global, interconnected economy have been better than good, they're been great!  But what happens when the media is against you? Well, it will probably be the worse thing that can ever happen to you, especially when everyone jumps on the bandwagon. You know how they say "there's no such thing as bad publicity"? Yeah right! I've been fighting off bad publicity in my business for years. From news reports on ABC News that detail horror stories of the reverse mortgage to New York Times articles that start with, "the very loans that are supposed to help seniors say in their homes are, in many cases, pushing them out." It's an uphill battle to try to create an re...
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