The Reverse Mortgage Professional

Follow me
By
Mortgage and Lending - Orange County, Corona, Riverside, Los Angeles - NMLS#203003
All things Reverse
RECENT BLOG POSTS
I heard a story last week from a friend of mine who just flew home from vacation. She had a great conversation with her seat mate on the plane and shared with me this story. The fellow sitting next to her talked about how his 93 year old mother had recently sold an investment property in order to...
01/18/2011
    I find one of the most intriguing aspects of the reverse mortgage loan is the line of credit option and it’s growth feature. If a homeowner has a HECM Adjustable Rate Loan, either Standard or Saver, and they choose the line of credit option there are some cool features that could come in ver...
01/11/2011
One of my resolutions was to get into better shape and work on flexibility and balance so, I chose Yoga. Took my 4th Yoga class tonite at "Just Yoga" in Corona, and it kicked by butt!  My legs are trashed.  It was most excellent.  I brought my son with me cause he wanted to try it.  I told him he...
01/10/2011
  Everyone knows the basics by now - “Senior homeowners and home-buyers over the age of 62 may qualify for a government insured reverse mortgage.  Call now for our free video.”  But what are the nuances and how are they helpful or hurtful?  I’d like to point out some of the fine print that you wi...
01/07/2011
So excited to have funded and closed a complex Reverse For Purchase transaction just before Christmas!  This was quite the scenario with a short sale lender, an out of country seller, a quick deadline for closing, a spouse too young for a reverse and a manufactured home to boot.  With knowledge,...
12/27/2010
  SRES Realtors - Do you know how to explain the HECM For Purchase to your buyers? Will it really help your business? First of all - what is a HECM For Purchase?  HECM stands for Home Equity Conversion Mortgage (HUD loves acronyms!) FHA defines “HECM for Purchase” as a R.E. purchase where title t...
12/20/2010
  What is reverse mortgage counseling like?  Here is a quick overview of what to do, and what you can expect at your counseling session and some information about where to go to get reverse counseling. The senior homeowner must schedule an appointment directly with the counseling agency.  The len...
12/18/2010
The use of a reverse mortgage here in Riverside California to purchase a retirement home is becoming more and more common.  More and more, Realtors are calling and asking me to work up quotes for their clients using the reverse mortgage to finance the purchase.  They are finding that normally "al...
12/07/2010
You can use an FHA HECM Reverse Mortgage to buy a new home if:  The youngest homeowner is 62 or older. The purchased home will be occupied within 60 days of closing. The purchased home will be the primary residence. No mortgage loan other than the HECM will be used to purchase the home.  The diff...
12/07/2010
  Which is better for senior homeowners, HELOC or HECM Saver? I’m certain I have a biased opinion but wanted to catch your attention.  Here are some of my thoughts on the matter. I’ve heard that most financial advisors will suggest to a senior that a home equity line is a better option for them t...
12/05/2010
Rainer
136,729

Deborah Nance

Southern California , Reverse Mortgage Specialist
Contact The Author
What You Want To Know & Need To Know About Reverse Mortgages - “The postings, statements and opinions on this site are my own and do not necessarily represent the opinions and positions of my employer, and/or it's affiliates."