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.
RECENT BLOG POSTS
Now that the limits were raised to $625,000 (from $417,000) I don't even know where to start. If I didn't have this expiration date of the end of the year looming; I might be able to relax. I hope I can reach as many people as possible, not just for my sake.
03/01/2009
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Praise the Lord! The Mortgagee Letter finally arrived that raises the Home Equity Conversion Mortgage (HECM) limits to $625,000. All lenders are implementing the change as we speak. I can't believe it finally happened. Now the work really starts.
02/25/2009
Except for a few people with some guts, almost every economist is saying the same thing: By the end of 2009, the economy will start to rebound. These are the same bozos who predicted that it would rebound at the end of 2008. It is a joke. The reality is that we are still getting worse and we will...
02/24/2009
A MetLife study from October 2008 says that over 70 percent of all people over age 60 have started to cut back on "essentials" such as food, transportation and healthcare. I think it is starting to become clear that the economy is going to get worse before it gets better. Hopefully, Reverse Mortg...
02/23/2009
A MetLife study from October 2008 says that over 70 percent of all people over age 60 have started to cut back on "essentials" such as food, transportation and healthcare. I think it is starting to become clear that the economy is going to get worse before it gets better. Hopefully, Reverse Mortg...
02/23/2009
According to most authorities, Reverse Mortgages have less than 2% penetration. This means that more than 98 out of 100 people who can get a Reverse Mortgage don't have one yet. There are literally millions of eligible people who NEED the help that a Reverse Mortgage can provide. Hopefully, the n...
02/19/2009
I'm thrilled that the limit increase made it in the stimulus package, BUT, We have no idea when it will go into effect. We do know that it will only be in effect for the remainder of 2009. We are now waiting almost SIX MONTHS for the details of the Reverse Mortgage for Co-ops program. I hope we w...
02/19/2009
As I posted earlier, part of the House stimulus bill had a temporary (2009 only) increase to the Home Equity Conversion Mortgage (HECM) limit to $625,000 (from the current $417,000.) The Senate version did not have it, BUT, it made it back in conference! This is huge news. The only question is wh...
02/16/2009
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I just don't understand how anyone thinks that if we spend 800 BILLION Dollars it will accomplish anything. The US gov'ts final bill for all of this bailout is going to be over 6 trillion. If they would have just paid everyone's mortgage off completely, it would have only cost 5 trillion.
02/11/2009
I've been hoping that the provision to increase the limits on reverse Mortgages from $417,000 to $625,000 that was in the House Stimulus bill would make it through teh Senate and the conference committee. The question is: Why shouldn't it? It helps out many people and doesn't cost anyone anything...
02/10/2009
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Michael Pinter

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Everything you ever wanted to know about Reverse Mortgages.