Michael Pinter's Reverse Mortgage Blog

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Mortgage and Lending - First Meridian Mortgage
Everything you ever wanted to know about Reverse Mortgages.

ARCHIVED BLOG POSTS

2008 

I have been noticing that the general tone of the press about reverse mortgages has been getting better. There was a great article in the Times earlier in the week that featured a woman who really benefitted from a Reverse Mortgage. Here is the link: http://www.nytimes.com/2008/11/23/nyregion/23n...
11/27/2008
Mr. Schiff has been predicting the current economic crisis for a few years and up until about six months ago, most people called him crazy. Now he's being called "The man who called the collapse." you can see a six minute clip of him from last week here: http://www.youtube.com/watch?v=wZUd2lMu5OQ...
11/25/2008
A judge in Indana ordered a woman to take a reverse Mortage to repay the money she stole from the town where she worked. This is interesting because the judge had the prescence and understanding of the product to compel her to access her equity in a way that would not cause her any distress in th...
11/25/2008
The truth is that Reverse Mortgages have not to this point, and hopefully will not, ever cause any financial distress. The way the loans are structured sets them up for the investor to get paid when the loan terminates. Obviously, there is no risk of payment default (because ther are no payments)...
11/23/2008
2008 was a bit of a mess in a lot of areas. I am optimistic about the new year for myself and for the Reverse Mortgage industry in general.   The (slightly) higher limits and the allowance of Home Equity Conversion Mortgages (HECM's) for purchases and for co-ops (soon?) coupled with the economic ...
11/20/2008
I have been reading a few people on blogs and in various media start to say that many seniors who are declaring bankruptcy and/or who are going into foreclosure could be saved with a Reverse Mortgage. Hopefully, this will start  to pick up and more and more people will start to see that many peop...
11/20/2008
The conference was a little dissapointing with very little new ideas there. The only two encouraging things I got from it were that most people believe that 2009 will be a much better year than 2008 AND that ther was some talk that the HECM limits will be raised again in 2009. Hopefully, we will ...
11/19/2008
The turnout is a little dissapointing this year with less attendees than last year. Not much new information as all of the non-FHA products are gone. Lots of optimism about the new changes and hopefully higher limits in the future.
11/18/2008
Continuing the thought from yesterday. I received many comments form people who had used Reverse Mortgages to save people from foreclosure. I, too have helped many people who literally had no other option. The reality today is that no matter what your Loan To Value (LTV) if you have a bunch of la...
11/14/2008
As the economic crises worsens, more and more people will need money. many of those people will be over 62 years old and own homes with a lot of equity. The government should be educating the public about this great product and how it can help so many.
11/13/2008
Rainer
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Michael Pinter

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Everything you ever wanted to know about Reverse Mortgages.