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The Justice Department announced the unsealing of a criminal information last week, charging four defendants – Louis Gendason, 42, of Delray Beach, Fla.; Kimberly Mackey, 46, of Pittsburgh; John Incandela, 24, and Marcos Echevarria, 29, both of Palm Beach, Fla. – with conspiracy to commit wire fraud involving a Continue reading… Three Loan Officers and a Title Agent Charged in $2.5 Million Reverse Mortgage and Loan Modification Scheme I have been hearing a lot of talk about Reverse Mortgages (aka Lifetime Mortgages) lately so I decided I wanted to find out a little bit more about them. Upon first hearing about them, I thought that they were a terrible idea, but after finding out a little bit more, I can Continue reading… Reverse Mortgages: Advantages and Disadvantages Ah, the reverse mortgage battle continues…Consumers Union says their risky and dangerous; RetireSafe, a grassroots organization that advocates on behalf of seniors says they provide financial independence to Seniors…so who’s right? First off, I have to say that I personally feel reverse mortgages offer an excellent opportunity for seniors to live a better life, or get Continue reading… Are Reverse Mortgages Safe for Seniors? Dennis Norman Reverse mortgages have become increasingly popular over the past few years with seniors that find themselves with a large amount of equity in their home, but short on cash, or struggling to pay for the upkeep of the home, property taxes, insurance or other living expenses. A reverse mortgage allows people Continue reading… New Rule Proposed to Protect Seniors Obtaining Reverse Mortgages
Dennis Norman The Federal Housing Administration (FHA) announced this week that it intends to make modifications to its Home Equity Conversion Mortgage (HECM), a reverse mortgage loan insured by the federal government, to make it more attractive and cost effective for older home owners seeking to tap their home equity. A HECM Continue reading… HUD Announces Plans to Make Reverse Mortgages More Affordable |
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