Michael Pinter's Reverse Mortgage Blog

I have been hearling a lot of people say that the housing crisis is somehow related to the fact that people cannot get mortgages and the banks are out of money. If you have good credit and enough income to qualify for a loan, you can get one. There are literally dozens (hundreds?)of lenders out t...

Economists after economist and analyst after analyst keep saying that the foreclosure crisis needs to be dealt with to help all of these poor homeowners that are victims. My guess is that less than ten percent of all properties in foreclosure are actually primary residences. From that ten percent...

I am always amazed at how some of the smartest people in the world have very little understanding of some parts of the economy. This morning I heard SEC chairman Harvey pitt say that one of the biggest problems of the upcoming period of time was the fact that so many Adjustable Rate Mortagges (AR...

The letter officially raising the limit for all Reverse Mortgages to $417,000 was released yesterday. It provided nothing of any interest. Everybody knew it already and in fact many lenders have been accepting loans with the new limit for weeks. We still await the letter about when Co-ops will be...

Now that there is a new administration working to get ready to take over the government, we can all hope that they will make the right decisions to take the country out of its current recession and moving in the right direction. I hope that the limits for Reverse Mortgages will get raised again. ...

Many borrowers are still going to get more than before because of the incraese in the limits but recent rate increases have lowered the amount most Reverse Mortgage borrowers can get by about $3,000. Hopefully rates will come back down and borrowers will get the maximum (like they could a few mon...

The fact that the supporting industries to the mortgage business are slow is helping out the booming Reverse Mortgage business. Title, appraisals and many other supporting services are super quick right now. The turnaround time for a Reverse to get cleared to close from application is getting sma...

The Housing & Economic Recovery Act (HERA) didn't do as much as we hoped for, BUT, a few of it's provisions have been (hopefully) turning the tide in the media's perception about Reverse Mortgages. NPR ran a positive radio piece last week about Reverse Mortgages. The link to the audio is here: ht...