Older homeowners have a myriad of mortgage choices. Is a 30-year mortgage really a smart move or should they declare mortgage independence? In part two of our exclusive interview with New York Financial advisor Robert Intelisano, we cover the risks of a 30-year mortgage refinance for older homeowners and
Heirs attempting to payoff reverse mortgages face hurdles or accelerated foreclosures Losing a parent is truly a heart-wrenching experience. One that many of you our viewers, and myself have endured. Compounding the grief is the frustration in settling the financial affairs of your loved one. According to a recent
Preventing Foreclosure The following was originally published in November 2011. Despite much of the recent negative news coverage reverse mortgages have helped countless older homeowners avoid inevitable foreclosure and eviction. Personal success stories are a powerful vehicle to imprint the value of a product or service in potential clients’ minds.
HECM loan terminations and ‘foreclosures’ source of recent negative press coverage Let’s face it. Foreclosure is an ugly and scary word. Unfortunately, it’s the same word that is commonly used when a Home Equity Conversion Mortgage is terminated- often when the loan balance exceeds the home’s value. Additional resources:
The number of allgeged ‘foreclosures’ have raised the eyebrows of lawmakers tasked with overseeing HUD's budget and the HECM program...