tag:blogger.com,1999:blog-62774611367841000892023-11-16T06:32:59.395-08:00Reverse Mortgage NewsIf you’re 62 or older – and looking for money to finance a home improvement, pay off your current mortgage, supplement your retirement income, or pay for healthcare expenses – you may be considering a reverse mortgage.Anonymoushttp://www.blogger.com/profile/12595095919524610676noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-6277461136784100089.post-21438764176379065272014-02-08T09:59:00.000-08:002014-02-08T10:00:45.380-08:00Is A Reverse Mortgage For You?<div dir="ltr" style="text-align: left;" trbidi="on">
<br />
<div class="rpuEmbedCode">
<div class="rpuArticle rpuRepost-2f3923719e58b5ec6bc4070e99d0f005-top" style="margin: 0; padding: 0;">
<script data-cfasync="false" src="https://1.rp-api.com/rjs/repost-article.js?3" type="text/javascript"></script><a class="rpuThumb" href="http://s.tt/1WQc2" rel="norewrite"><img src="//img.1.rp-api.com/thumb/9986256" style="float: left; margin-right: 10px;" /></a><a class="rpuTitle" href="http://s.tt/1WQc2" rel="norewrite"><strong>Pros and Cons of a Reverse Mortgage</strong></a> (via <a class="rpuHost" href="http://s.tt/1WQc2" rel="norewrite">www.mybanktracker.com</a>)<br />
<div class="rpuSnip">
After years of pouring money into their homes, during their senior years borrowers can use reverse mortgages to take some cash out. The money can be a welcome supplement to <a class="zem_slink" href="http://en.wikipedia.org/wiki/Social_Security_%28United_States%29" rel="wikipedia" target="_blank" title="Social Security (United States)">Social Security</a> payments, while allowing <a class="zem_slink" href="http://en.wikipedia.org/wiki/Old_age" rel="wikipedia" target="_blank" title="Old age">older people</a> to keep living in their…
</div>
</div>
</div>
<!-- put the "tease", "jump" or "more" break here --><br />
<hr id="system-readmore" style="display: none;" />
<a name='more'></a><!--break--><br />
<hr class="at-page-break" style="display: none;" />
<div class="rpuEmbedCode">
<div class="rpuArticle rpuRepostMain rpuRepost-2f3923719e58b5ec6bc4070e99d0f005-bottom" style="display: none;">
</div>
<div style="display: none;">
<!-- How to customize this embed: http://www.repost.us/article-preview/hash/c90c35746fa99259be5848d58dde2c27 --></div>
</div>
<div class="zemanta-related" style="clear: both; margin-top: 20px; overflow: hidden;">
<h4 class="zemanta-related-title">
Related articles</h4>
<ul class="zemanta-article-ul zemanta-article-ul-image" style="margin: 0; overflow: hidden; padding: 0;">
<li class="zemanta-article-ul-li-image zemanta-article-ul-li" style="background: none; display: block; float: left; font-size: 11px; list-style: none; margin: 2px 10px 10px 2px; padding: 0; text-align: left; vertical-align: top; width: 84px;"><a href="http://www.oddonion.com/2014/02/08/reverse-mortgages-safer-but-far-from-risk-free/" style="border-radius: 2px; box-shadow: 0px 0px 4px #999; display: block; padding: 2px; text-decoration: none;" target="_blank"><img src="http://i.zemanta.com/246265490_80_80.jpg" style="border: 0; display: block; margin: 0; max-width: 100%; padding: 0; width: 80px;" /></a><a href="http://www.oddonion.com/2014/02/08/reverse-mortgages-safer-but-far-from-risk-free/" style="display: block; height: 80px; line-height: 12pt; overflow: hidden; padding: 5px 2px 0 2px; text-decoration: none;" target="_blank">Reverse mortgages: Safer, but far from risk-free</a></li>
<li class="zemanta-article-ul-li-image zemanta-article-ul-li" style="background: none; display: block; float: left; font-size: 11px; list-style: none; margin: 2px 10px 10px 2px; padding: 0; text-align: left; vertical-align: top; width: 84px;"><a href="http://www.localnews8.com/lifestyle/money/Reverse-mortgages-Safer-but-far-from-risk-free/-/461672/24345876/-/205702/-/index.html" style="border-radius: 2px; box-shadow: 0px 0px 4px #999; display: block; padding: 2px; text-decoration: none;" target="_blank"><img src="http://i.zemanta.com/246008496_80_80.jpg" style="border: 0; display: block; margin: 0; max-width: 100%; padding: 0; width: 80px;" /></a><a href="http://www.localnews8.com/lifestyle/money/Reverse-mortgages-Safer-but-far-from-risk-free/-/461672/24345876/-/205702/-/index.html" style="display: block; height: 80px; line-height: 12pt; overflow: hidden; padding: 5px 2px 0 2px; text-decoration: none;" target="_blank">Reverse mortgages: Safer, but far from risk-free</a></li>
<li class="zemanta-article-ul-li-image zemanta-article-ul-li" style="background: none; display: block; float: left; font-size: 11px; list-style: none; margin: 2px 10px 10px 2px; padding: 0; text-align: left; vertical-align: top; width: 84px;"><a href="http://wiki.nginx.org/index.php?title=Home_Mortgages:_What_You_Need_To_Know&diff=28992&oldid=0" style="border-radius: 2px; box-shadow: 0px 0px 4px #999; display: block; padding: 2px; text-decoration: none;" target="_blank"><img src="http://i.zemanta.com/noimg_29_80_80.jpg" style="border: 0; display: block; margin: 0; max-width: 100%; padding: 0; width: 80px;" /></a><a href="http://wiki.nginx.org/index.php?title=Home_Mortgages:_What_You_Need_To_Know&diff=28992&oldid=0" style="display: block; height: 80px; line-height: 12pt; overflow: hidden; padding: 5px 2px 0 2px; text-decoration: none;" target="_blank">Home Mortgages: What You Need To Know</a></li>
<li class="zemanta-article-ul-li-image zemanta-article-ul-li" style="background: none; display: block; float: left; font-size: 11px; list-style: none; margin: 2px 10px 10px 2px; padding: 0; text-align: left; vertical-align: top; width: 84px;"><a href="http://consumersresearch.org/rule-changes-tighten-reverse-mortgage-eligibility/" style="border-radius: 2px; box-shadow: 0px 0px 4px #999; display: block; padding: 2px; text-decoration: none;" target="_blank"><img src="http://i.zemanta.com/245706769_80_80.jpg" style="border: 0; display: block; margin: 0; max-width: 100%; padding: 0; width: 80px;" /></a><a href="http://consumersresearch.org/rule-changes-tighten-reverse-mortgage-eligibility/" style="display: block; height: 80px; line-height: 12pt; overflow: hidden; padding: 5px 2px 0 2px; text-decoration: none;" target="_blank">Rule Changes Tighten Reverse Mortgage Eligibility</a></li>
</ul>
</div>
<div class="zemanta-pixie" style="height: 15px; margin-top: 10px;">
<a class="zemanta-pixie-a" href="http://www.zemanta.com/?px" title="Enhanced by Zemanta"><img alt="Enhanced by Zemanta" class="zemanta-pixie-img" src="http://img.zemanta.com/zemified_c.png?x-id=75209e14-abfc-417a-ac95-a2da5e18cc30" style="border: none; float: right;" /></a></div>
</div>
Anonymoushttp://www.blogger.com/profile/12595095919524610676noreply@blogger.com0tag:blogger.com,1999:blog-6277461136784100089.post-6023685805352056062013-12-14T03:07:00.001-08:002013-12-14T03:07:34.440-08:00FHA Reverse Mortgages for People Older Than 62<div dir="ltr" style="text-align: left;" trbidi="on">
<div id="article-title" style="color: #333333; font-family: Arial; font-size: 12px;">
<h1 style="border: 0px; font-family: Georgia, serif; font-size: 2.2em; font-weight: normal; margin: 0px 0px 5px; padding: 0px 100px 0.2em 0px; text-shadow: rgb(204, 204, 204) 2px 2px 3px;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgaiOunggYaE9UCW67ANzOKEhpskfQiCGXVX5ijkf-nv4fenqCozqY0LF5RH8h5uVZpovq3Qfn8PDUPUoDdjcoPdlm7soaBsq6AUYUAxkZPl7bfScujB3c34n2TXoTgylWbn2ANNHujPMY/s1600/ffa.jpg" imageanchor="1" style="clear: left; display: inline !important; float: left; font-family: Arial; font-size: 1.2em; margin-bottom: 1em; margin-right: 1em; text-align: justify;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgaiOunggYaE9UCW67ANzOKEhpskfQiCGXVX5ijkf-nv4fenqCozqY0LF5RH8h5uVZpovq3Qfn8PDUPUoDdjcoPdlm7soaBsq6AUYUAxkZPl7bfScujB3c34n2TXoTgylWbn2ANNHujPMY/s1600/ffa.jpg" /></a></h1>
</div>
<div id="article-body" style="color: #333333; font-family: Arial; font-size: 1.2em; margin-top: 18px;">
<div id="article-content">
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
If you are age 62 or older you may want to participate in FHA's Home Equity Conversion Mortgage (HECM), better known as the Reverse Mortgage, program. To qualify for a Reverse Mortgage you must be a homeowner that has paid off your mortgage or paid it down by a considerable amount and are currently living in the home.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
With this program you can choose the way you want to withdraw your funds. You can choose to receive them in a fixed monthly amount or a line of credit or a combination of both.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
<strong>How the FHA Reverse Mortgage Program Works</strong></div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
There are many things for you to consider before deciding a Reverse Mortgage is the right course of action for you. To help in this process the FHA requires you to meet with a Reserve Mortgage counselor of your choosing.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
This counselor will discuss Reverse Mortgage financial implications, eligibility requirements and alternatives to a Reverse Mortgage. They will also discuss how to repaying this loan and what happens when the Reverse Mortgage becomes due and payable.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
Upon the completion of this counseling session you should be able to make an informed decision regarding whether a Reverse Mortgage will meet your specific needs. You can search online for a HECM or Reverse Mortgage counselor or call toll-free <span class="skype_pnh_container" dir="ltr" skype_menu_props="{'numberToCall':'+18005694287' , 'isFreecall':false, 'isMobile':false, 'isRtl':false}" style="background-attachment: scroll !important; background-image: none !important; background-position: 0px 0px !important; background-repeat: no-repeat no-repeat !important; border-collapse: separate !important; border: 0px none rgb(0, 0, 0) !important; bottom: auto !important; clear: none !important; clip: auto !important; color: rgb(0, 175, 253) !important; cursor: pointer !important; direction: ltr !important; display: inline !important; float: none !important; font-family: 'Helvetica Neue Regular', Helvetica, Arial, sans-serif !important; font-size: 1em !important; left: auto !important; letter-spacing: 0px !important; list-style: disc outside none !important; margin: 0px !important; overflow: hidden !important; padding: 0px !important; page-break-after: auto !important; page-break-before: auto !important; page-break-inside: auto !important; position: static !important; right: auto !important; table-layout: auto !important; text-shadow: none !important; top: auto !important; vertical-align: baseline !important; width: auto !important; word-spacing: normal !important; z-index: 0 !important;" tabindex="-1"> <span class="skype_pnh_highlighting_inactive_common" dir="ltr" skypeaction="skype_dropdown" style="background-attachment: scroll !important; background-image: none !important; background-position: 0px 0px !important; background-repeat: no-repeat no-repeat !important; border-collapse: separate !important; border: 0px none rgb(0, 0, 0) !important; bottom: auto !important; clear: none !important; clip: auto !important; cursor: pointer !important; direction: ltr !important; display: inline !important; float: none !important; font-size: 1em !important; left: auto !important; letter-spacing: 0px !important; list-style: disc outside none !important; margin: 0px !important; overflow: hidden !important; padding: 0px !important; page-break-after: auto !important; page-break-before: auto !important; page-break-inside: auto !important; position: static !important; right: auto !important; table-layout: auto !important; text-shadow: none !important; top: auto !important; vertical-align: baseline !important; width: auto !important; word-spacing: normal !important; z-index: 0 !important;"><span class="skype_pnh_textarea_span" style="background-attachment: scroll !important; background-image: none !important; background-position: 0px 0px !important; background-repeat: no-repeat no-repeat !important; border-collapse: separate !important; border: 0px none rgb(0, 0, 0) !important; bottom: auto !important; clear: none !important; clip: auto !important; cursor: pointer !important; direction: ltr !important; display: inline !important; float: none !important; font-size: 1em !important; left: auto !important; letter-spacing: 0px !important; list-style: disc outside none !important; margin: 0px !important; overflow: hidden !important; padding: 0px !important; page-break-after: auto !important; page-break-before: auto !important; page-break-inside: auto !important; position: static !important; right: auto !important; table-layout: auto !important; text-shadow: none !important; top: auto !important; vertical-align: baseline !important; width: auto !important; word-spacing: normal !important; z-index: 0 !important;"><img class="skype_pnh_logo_img" src="chrome-extension://lifbcibllhkdhoafpjfnlhfpfgnpldfl/numbers_button_skype_logo.png" style="background-attachment: scroll !important; background-image: none !important; background-position: 0px 0px !important; background-repeat: no-repeat no-repeat !important; border-collapse: separate !important; border: 0px none rgb(0, 0, 0) !important; bottom: auto !important; clear: none !important; clip: auto !important; cursor: pointer !important; direction: ltr !important; display: inline !important; float: none !important; font-size: 1em !important; height: 1em !important; left: auto !important; letter-spacing: 0px !important; list-style: disc outside none !important; margin: 0px 5px 0px 0px !important; max-height: 24px !important; max-width: 24px !important; min-height: 8px !important; min-width: 8px !important; overflow: hidden !important; padding: 0px !important; page-break-after: auto !important; page-break-before: auto !important; page-break-inside: auto !important; position: static !important; right: auto !important; table-layout: auto !important; text-shadow: none !important; top: auto !important; vertical-align: middle !important; width: 1em !important; word-spacing: normal !important; z-index: 0 !important;" /><span class="skype_pnh_text_span" style="background-attachment: scroll !important; background-image: none !important; background-position: 0px 0px !important; background-repeat: no-repeat no-repeat !important; border-collapse: separate !important; border: 0px none rgb(0, 0, 0) !important; bottom: auto !important; clear: none !important; clip: auto !important; cursor: pointer !important; direction: ltr !important; display: inline !important; float: none !important; font-size: 1em !important; left: auto !important; letter-spacing: 0px !important; list-style: disc outside none !important; margin: 0px !important; overflow: hidden !important; padding: 0px !important; page-break-after: auto !important; page-break-before: auto !important; page-break-inside: auto !important; position: static !important; right: auto !important; table-layout: auto !important; text-shadow: none !important; top: auto !important; vertical-align: baseline !important; width: auto !important; word-spacing: normal !important; z-index: 0 !important;">(800) 569-4287</span></span></span></span> to locate one.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
You must also meet certain borrower and property eligibility requirements. You can use the information below or a reverse mortgage calculator, readily found online, to make sure you qualify.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
If you meet the eligibility requirements you can complete a reverse mortgage application through any FHA-approved lender. Almost any institution that offers mortgages will be FHA approved. You can do an online search for a FHA approved lender or ask the HECM counselor to provide you with a list. After you choose a lender they will discuss all the requirements of the Reverse Mortgage program, the loan approval process, and the repayment terms with you. If they will not do this then you picked the wrong lender. Do more research and then choose another mortgage source!</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
<strong>Borrower Requirements</strong></div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
* Be at least 62 years of age</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
* Own the property free and clear or have a considerable amount of equity</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
* Live on the property and it must be your principal residence</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
* You can't be be delinquent on any federal debt</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
* Attend a consumer information session presented by a HUD approved HECM or Reverse Mortgage counselor</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
<strong>Property Requirements</strong></div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
* A single family home or</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
* A 2 to 4 unit complex and one unit must be occupied by the borrower or</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
* A HUD approved condominium community or</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
* A manufactured or mobile home that meets all FHA requirements</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
<strong>Financial Requirements</strong></div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
* Income, assets, monthly living expenses, credit history, payments of real estate taxes and insurance premiums may be verified.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
You can select from five payment plans:</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
* <strong>Tenure </strong>- equal monthly payments to you as long as one borrower lives and continues to occupy the property as their principal residence.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
* <strong>Term </strong>- equal monthly payments to you for a fixed period of months.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
* <strong>Line of Credit </strong>- unscheduled payments or installments to you, at times and in an amount of your choosing, until the line of credit is exhausted.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
* <strong>Modified Tenure </strong>- combination of line of credit and scheduled monthly payments to you for as long as one borrower lives and continues to occupy the property as their principal residence.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
* <strong>Modified Term </strong>- combination of line of credit plus monthly payments to you for a fixed period of months selected by you.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
You can change your payment plan at any time for $20.00</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
<strong>What Your Mortgage Amount is Based On</strong></div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
The age of the youngest borrower</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
The current interest rate</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
The appraised value or the FHA Reverse Mortgage limit of $625,500 or the sales price whichever is less</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
As a general rule the more valuable your home is, the older you are, and the lower the interest rate is, the more you can borrow. If there is more than one borrower, the age of the youngest borrower is used to determine the amount you can borrow.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
For an estimate of your Reverse Mortgage cash benefits, go to the HECM Home Page and select the online calculator.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
<strong>Reverse Mortgage </strong><strong>Costs</strong></div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
You can pay most of the costs of a Reverse Mortgage by financing them. This means that you can have them paid from the proceeds of the loan and not with cash from out of your pocket. On the other hand, financing the costs reduces the net loan amount available to you.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
A Reverse Mortgage can incur several fees and charges including mortgage insurance premiums (initial and annual), any third party charges, origination fees, interest and servicing fees. The lender will discuss these fees and charges with you prior to closing your loan.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
You will be charged an initial mortgage insurance premium at closing. The premium will be either 2% for the Standard insurance program or the 1% for the Saver insurance program. These insurance programs are based on the appraised value of your home, the FHA HECM mortgage limit of $625,500 or the sales price whichever is lower. Over the life of the loan, you will also be charged an annual mortgage insurance premium that equals 1.25% of your mortgage balance.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
<strong>Mortgage Insurance Premium</strong></div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
One of the costs you will incur with a FHA reverse mortgage is a mortgage insurance premium. This pays for the mortgage insurance which guarantees that you will receive expected loan advances by guaranteeing the reverse mortgage with the lender. You can finance the mortgage insurance premium as part of your loan but it will reduced the net amount of cash that you can receive.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
<strong>Third Party Charges</strong></div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
Closing costs incurred from third parties can include the appraisal fee, costs of the title search, insurance premiums, charges for any needed surveys, inspections charges, recording fees, mortgage taxes and the cost of an credit checks. Other fees may be incurred as deemed appropriate.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
<strong>Origination Fee</strong></div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
Another fee you will pay is an origination fee. This compensates the lender for processing your Reverse Mortgage. A lender can charge a Reverse Mortgage origination fee of up to $2,500 if your home is valued at less than $125,000. If your home is valued at more than $125,000 the lender can charge 2% of the first $200,000 of your home's value plus 1% of the amount over $200,000. Reverse Mortgage origination fees are capped at $6,000. These fees are usually negotiable between you and the lender.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
<strong>Interest Rate</strong></div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
You can choose a fixed rate or an adjustable interest rate loan. If you choose an adjustable interest rate, you can choose to have the interest rate adjust monthly or annually.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
Lenders may not move annually adjusted Reverse Mortgage by more than 2 percentage points per year and not by more than 5 total percentage points over the life of the loan. FHA does not require interest rate caps on monthly adjusted Reverse Mortgage.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
<strong>Servicing Fee</strong></div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
Lenders or their agents provide servicing throughout the life of the Reverse Mortgage. Servicing the loan includes sending you account statements, disbursing loan proceeds and making certain that you keep up with loan requirements such as paying real estate taxes and hazard insurance premium. Lenders may charge a monthly servicing fee of no more than $30.00 if the loan has an annually adjusting interest rate and $35.00 if the interest rate adjusts monthly. At loan origination, the lender sets aside the servicing fee and deducts the fee from your available funds. Each month your loan is in effect the monthly servicing fee is added to your loan balance.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
FHA rules are subject to change. These were the guidelines at the time this article was written - February 5, 2012. Please check with the applicable agent or agency to ensure that they are still current before making any buying decisions.</div>
</div>
<div id="article-resource">
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
Sam S. Spade is the Manager of <a href="http://fhacondosapproval.com/" style="color: #1900ff;" target="_new">The FHA Condos Approval Company</a> - They can get Your Condos HUD/FHA Approved So You Can Offer FHA Financing! According to DQ News - 33.4% of the purchase mortgages used in 20 of the largest metro areas were FHA-Insured. The FHA Condos Approval Company Can Get Your Condo Community FHA Approved or You Pay Nothing.</div>
</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
Article Source: <a href="http://ezinearticles.com/?expert=Sam_S_Spade" style="color: #1900ff;">http://EzineArticles.com/?expert=Sam_S_Spade</a></div>
</div>
</div>
Anonymoushttp://www.blogger.com/profile/12595095919524610676noreply@blogger.com3tag:blogger.com,1999:blog-6277461136784100089.post-48905358399214331262013-12-03T08:52:00.001-08:002013-12-03T08:52:18.048-08:00Using A Reverse Mortgage To Pay for Long-term Care and Avoid A Nursing Home<div dir="ltr" style="text-align: left;" trbidi="on">
<div id="article-title" style="color: #333333; font-family: Arial; font-size: 12px;">
<h1 style="border: 0px; font-family: Georgia, serif; font-size: 2.2em; font-weight: normal; margin: 0px 0px 5px; padding: 0px 100px 0.2em 0px; text-align: justify; text-shadow: rgb(204, 204, 204) 2px 2px 3px;">
<br /></h1>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhtPVDrV77c8JXwu6R7IbBW5ewsZfcrH1qrL0R3Rp3a6QWIV8MnHFxXCg_0aLIa7UBAeBUL_CDzU6ug_CUR5eSFZnNQD1EBucizLFSjwW35AIScLTZkiXvtbSPq-LlGjLrqDCGunwzLzao/s1600/Nursing-Home-Delaying-Medication-Because-of-Verbal-Disagreement-10.4.13.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhtPVDrV77c8JXwu6R7IbBW5ewsZfcrH1qrL0R3Rp3a6QWIV8MnHFxXCg_0aLIa7UBAeBUL_CDzU6ug_CUR5eSFZnNQD1EBucizLFSjwW35AIScLTZkiXvtbSPq-LlGjLrqDCGunwzLzao/s1600/Nursing-Home-Delaying-Medication-Because-of-Verbal-Disagreement-10.4.13.gif" /></a></div>
<div class="by-line" style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
<span style="font-size: 1.2em; line-height: 1.5em;">Alternatives to Long Term Care Insurance: Using a Reverse Mortgage and Other Methods to Pay for Long-term Care Costs</span></div>
</div>
<div id="article-body" style="color: #333333; font-family: Arial; font-size: 1.2em; margin-top: 18px;">
<div id="article-content">
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
Because long-term care insurance requires you to be in good health, this planning option is not available to everyone, especially older applicants for whom the premiums may also be prohibitive. If you are at least 62 years of age and you own your home, you could use a reverse mortgage to pay for care at home or for a long-term care insurance policy that otherwise may be unaffordable.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
A reverse mortgage is a means of borrowing money from the amount you have already paid for your house. You are freeing up money that would otherwise only be available to you if you sold the house. You can stay in the house until you die, without making monthly payments. The loan is repaid when the borrower dies or sells the home. The balance of the equity in the home will go to the homeowner's estate.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
Payments can be received monthly, in a lump sum or the money can be used as a line of credit. The funds received from a reverse mortgage are tax-free.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
While the eligibility age is 62, it is best to wait until your early 70's or later. The older the borrower, the larger the amount of equity available. There are maximum limits set by the federal government each year as to how much of the equity can be borrowed. Usually only about 50% of the value of the home is made available in the form of a reverse mortgage.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
You can use the funds from a reverse mortgage to cover the cost of home-health care. Because the loan must be repaid if you cease to live in the home, long-term care outside the home can't be paid for with a reverse equity mortgage unless a co-owner of the property who qualifies continues to live in the home.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px;">
</div>
<div style="text-align: justify;">
<span style="font-size: 1.2em; line-height: 1.5em;">Use Your Home to Stay at Home Program</span><span style="font-size: 1.2em; line-height: 1.5em;"> </span></div>
<div style="text-align: justify;">
<span style="font-size: 1.2em; line-height: 1.5em;">The National Council on the Aging, with the support of both the Centers for Medicare and Medicaid Services (CMS) and the Robert Wood Johnson Foundation, is laying the groundwork for a powerful public-private partnership to increase the use of reverse mortgages to help pay for long-term care. The ultimate goal of the Use Your Home to Stay at Home(TM) program is to increase the appropriate use of reverse mortgages so that millions of homeowners can tap home equity to pay for long-term care services or insurance.</span></div>
<br />
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
Reverse Mortgages Can Help with Long-Term Care Expenses, Study Says</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
A new study by The National Council on the Aging (NCOA) shows that using reverse mortgages to pay for long-term care at home has real potential in addressing what remains a serious problem for many older Americans and their families.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
In 2000, the nation spent $123 billion a year on long-term care for those age 65 and older, with the amount likely to double in the next 30 years. Nearly half of those expenses are paid out of pocket by individuals and only 3 percent are paid for by private insurance; government health programs pay the rest.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
According to the study, of the 13.2 million who are candidates for reverse mortgages, about 5.2 million are either already receiving Medicaid or are at financial risk of needing Medicaid if they were faced with paying the high cost of long-term care at home. This economically vulnerable segment of the nation's older population would be able to get $309 billion in total from reverse mortgages that could help pay for long-term care. These results are based on data from the 2000 University of Michigan Health and Retirement Study.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
"There's been a lot of speculation whether reverse mortgages could be part of the solution to the nation's long-term care financing dilemma," said NCOA President and CEO James Firman. "It's clear that reverse mortgages have significant potential to help many seniors to pay for long term care services at home."</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
According to the study, out of the nearly 28 million households age 62 and older, some 13.2 million are good candidates for reverse mortgages.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
"We've found that seniors who are good candidates for a reverse mortgage could get, on average, $72,128. These funds could be used to pay for a wide range of direct services to help seniors age in place, including home care, respite care or for retrofitting their homes," said Project Manager Barbara Stucki, Ph.D. "Using reverse mortgages for many can mean the difference between staying at home or going to a nursing home."</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
Seniors can choose to take the cash from a reverse mortgage as a lump sum, in a line of credit or in monthly payments. If they choose a lump sum, for example, they could pay to retrofit their home to make kitchens and bathrooms safer and more accessible - especially important to those who are becoming frail and in danger of falling. If they choose a line of credit or monthly payments, an average reverse mortgage candidate could use the funds to pay for nearly three years of daily home health care, over six years of adult day care five days a week, or to help family caregivers with out-of-pocket expenses and weekly respite care for 14 years. They could also use it to purchase long-term care insurance if they qualify.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
"Up until now, though, most of these seniors have not tapped the equity in their homes -- estimated at some $1.9 trillion -- to pay for either preventive maintenance or for services at home," noted Peter Bell, executive director of the National Reverse Mortgage Lenders Association. Noting that the average income of men aged 65 and over is $28,000 and $15,000 for women, he added, "This study shows that unlocking these resources can help millions of 'house rich, cash poor' seniors purchase the long-term care services they feel best suit their needs."</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
What is it about Reverse Mortgages that instills apprehension in some Older Americans?</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
Fears persist despite the enthusiastic endorsement of groups such as AARP and the National Council on Aging.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
A major reason is likely to be the fact that a lot of misinformation has been circulating about this very attractive financial tool for those that qualify. Older Americans often consult friends and relatives who are likely to be misinformed themselves.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
Since the Reverse Mortgage can be a beneficial and safe alternative for Older Americans, it's important to correct the major misconceptions associated with them and allow older homeowners to make an informed decision about whether a Reverse Mortgage makes sense for them.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
Probably the most common misconception is " If I obtain a reverse mortgage I might lose my home". I frequently hear this when I'm advising elders about planning options related to long-term care. The fact is that the federal government requires that the home must stay in the name of the borrowers only. Since the Reverse Mortgage is a mortgage, a lien is placed on the property like all other mortgages. This assures that the lender will eventually be repaid but for only the amount owed which is principle, interests, and closing costs, just like any other mortgage.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
The great advantage of this type of mortgage is that -unlike traditional mortgages-there are no monthly payments. Not having to worry about monthly bills has to be one of the greatest gifts one could wish for in retirement.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
More than ninety-five (95) percent of Reverse Mortgages approved are the Federal Housing Administration (FHA) Home Equity Conversion Mortgage (HECM) loans. These loans are guaranteed the full protection of the United States Government through use of a two (2) percent insurance fee paid on all FHA Reverse mortgages.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
Another misconception is that Reverse Mortgages are costlier than other mortgages. The truth is that closing costs average only about one (1) percent more than a traditional FHA mortgage would be on the same property. The Reverse Mortgage may even be lower in cost due to the fact that conventional mortgages can charge more than the two (2) percent origination fee allowed on all Reverse Mortgages.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
Another cost factor is of course, the interest rate. The FHA Reverse Mortgage interest rate is based on the one (1) year United States Treasury note instead of the prime rate, which most conventional mortgages use as their base. This gives the FHA Reverse Mortgage an interest rate LOWER than most adjustable conventional mortgages.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
Another myth about reverse mortgages is that the home goes to the lender after the loan becomes due at death or when the last survivor permanently leaves the home. In my experience, the loan amount of approved is generally about half of the appraised value of the home. (The older the homeowner, the greater the amount available for borrowing because it's assumed that the funds will be available for a shorter period.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
All of the equity left after payment to the lender, goes to the estate or heirs of the borrower. This is exactly the same procedure followed with regular conventional mortgages.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
Since the Reverse Mortgage is a "non-recourse" loan the most the estate will be required to pay to the lender is the value of the home at the time of repayment. This is true even if the home value decreased or the borrower lived to an unusually old age.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
Another attractive feature of this financing tool is that the requirements for getting a Reverse Mortgage are not nearly as restrictive as other loans. Since no re-payment is made as long as one (1) surviving borrower remains in the home, there are NO income or credit requirements. Another requirement is that both spouses must be sixty-two (62) or older with no upper age restriction. The only other requirement is that the borrowers alone must own the home with no others on the deed. The home may also be in a revocable trust as long as the eligible borrowers are the only trustees.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
All property types are Reverse Mortgage eligible except manufactured (mobile) homes built before June 15, 1976 and co-operatives (Co-ops). Co-ops are expected to be eligible in the future when FHA issues final approval. Homes with existing mortgages that can be paid from the equity can obtain Reverse Mortgages.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
Still another misconception is that a Reverse Mortgage is taxable and affects Social Security and Medicare. That is NOT the case. Reverse Mortgage proceeds are not taxable because they are not considered income but is, in fact, a loan.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
It should be noted that Supplemental Security Income (SSI) and Medicaid might be affected if you exceed certain liquid asset amounts. We can show you how to structure the loan so that a Reverse Mortgage will not affect these benefits.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
Now that the myths of Reverse Mortgage have been removed, a qualified homeowner may ask, how can I get more comprehensive information? Is your local bank the answer? Only a few lenders have been approved for participation by the federal department of Housing and Urban Development, which oversees the program. Most local and regional banks do not offer Reverse Mortgages.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
AARP, the Federal National Mortgage Association, American Bar Association (ABA) and the National Council On Aging provide consumer information about reverse mortgages. The ABA passed a resolution supporting Reverse Mortgages in August of 1995.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
If you would like to get specific information on a Reverse Mortgage for yourself or a family member, contact Bob O'Toole at 1-800-375-0595 or send me an e-mail to <a href="mailto:bob@elderlifeplanning.com" style="color: #1900ff;">bob@elderlifeplanning.com</a></div>
</div>
<div id="article-resource">
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
Bob O'Toole, President of Informed Eldercare Decisions, Inc. is a nationally known elder and disability care specialist. He currently serves on the board of directors of the National Association of Professional Geriatric Care Managers, and is a former editor of the Geriatric Care Management Journal.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
Prior to founding Informed Eldercare Decisions, Inc, Bob worked for 10 years as a senior administrator in the Massachusetts Home Care System and for one of the leading private long term care consulting firms.</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
A frequent public speaker on aging issues, Bob has contributed chapters to two books on elder care and geriatric care management issues and has written numerous articles on the delivery of elder care in the private marketplace. His articles have appeared in Geriatric Care Management Journal, Health Insurance Underwriter, Inside Case Management, Journal of Compensation and Benefits and Workspan magazine.</div>
</div>
<div style="line-height: 1.5em; margin-bottom: 1em; padding: 0px; text-align: justify;">
Article Source: <a href="http://ezinearticles.com/?expert=Bob_O'Toole" style="color: #1900ff;">http://EzineArticles.com/?expert=Bob_O'Toole</a></div>
</div>
</div>
Anonymoushttp://www.blogger.com/profile/12595095919524610676noreply@blogger.com0tag:blogger.com,1999:blog-6277461136784100089.post-972022148850721372012-04-05T16:48:00.000-07:002012-04-05T16:48:02.483-07:00Reverse Mortgages in the News<br />
<h1 class="first-child" style="background-attachment: initial; background-clip: initial; background-color: #e9e8c0; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: #a94400; font-family: TitilliumText22LBold; font-size: 2.2em; line-height: 1; margin-bottom: 0.5em; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">
<br /></h1>
<div class="last-child" id="dnn_ctr497_ContentPane" style="background-attachment: initial; background-clip: initial; background-color: #e9e8c0; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: #333333; font-family: Helvetica, Arial, sans-serif; font-size: 10px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">
<div class="DNNModuleContent ModDNNHTMLC first-child last-child" id="dnn_ctr497_ModuleContent" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">
<div class="Normal first-child last-child" id="dnn_ctr497_HtmlModule_lblContent" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-size: 1em; line-height: 1.6; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">
<table class="first-child last-child" style="-webkit-border-horizontal-spacing: 0px; -webkit-border-vertical-spacing: 0px; background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-collapse: collapse; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"><tbody class="first-child last-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">
<tr class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"><td class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: center; vertical-align: top;"><img alt="" class="first-child" height="91" src="http://www.reversemortgage.org/portals/0/Images/News/AdviceIQ.jpg" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-style: none; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-style: none; border-left-width: 0px; border-right-style: none; border-right-width: 0px; border-style: initial; border-top-style: none; border-top-width: 0px; border-width: initial; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;" width="198" /> </td><td class="last-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; vertical-align: top;"> <h3 class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: #555555; font-family: TitilliumText22LBold; font-size: 1.6em; font-weight: normal; line-height: 1.5; margin-bottom: 1em; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">
<strong class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">“</strong><strong class="last-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"><a class="zem_slink" href="http://www.business.com/finance/reverse-mortgages/" rel="businesscom" target="_blank" title="Reverse Mortgages">Reverse Mortgages</a>: Now OK”</strong></h3>
<div class="last-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-size: 1.2em; line-height: 1.5; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">
<em class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">By Rick Kahler</em><br />Reverse mortgages, a controversial income source for older people, are a better deal for homeowners now. Like most financial advisors, I advise against using your home as a source of retirement income. But some creative new tactics and a lowering of fees make reverse mortgages worth a closer look. <a class="last-child" href="http://adviceiq.com/node/181" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: #a94400; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">Read more</a>.</div>
</td></tr>
<tr style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"><td class="first-child last-child" colspan="2" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: center; vertical-align: top;"> <hr class="first-child last-child" style="color: dimgrey; height: 1px; text-align: left;" />
</td></tr>
<tr style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"><td class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: center; vertical-align: top;"> </td><td class="last-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; vertical-align: top;"> </td></tr>
<tr style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"><td class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: center; vertical-align: top;"> <img alt="" class="first-child last-child" src="http://www.reversemortgage.org/portals/0/Images/News/washington_post_logo_thumb.jpg" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-style: none; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-style: none; border-left-width: 0px; border-right-style: none; border-right-width: 0px; border-style: initial; border-top-style: none; border-top-width: 0px; border-width: initial; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;" /></td><td class="last-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; vertical-align: top;"> <h3 class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: #555555; font-family: TitilliumText22LBold; font-size: 1.6em; font-weight: normal; line-height: 1.5; margin-bottom: 1em; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">
<strong class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">“</strong><strong class="last-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">Reverse mortgages can be beneficial, if you know how to use them”</strong></h3>
<div class="last-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-size: 1.2em; line-height: 1.5; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">
<em class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">By Harvey S. Jacobs</em><br />As the country's home-owning population ages and baby boomers hit their mid-60s, it's time to take another look at the once-popular mortgage product known as the reverse mortgage. <a class="last-child" href="http://www.washingtonpost.com/realestate/reverse-mortgages-can-be-beneficial-if-you-know-how-to-use-them/2012/03/12/gIQATnhOGS_story.html" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: #a94400; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">Read more</a>.</div>
</td></tr>
<tr style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"><td class="first-child last-child" colspan="2" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: center; vertical-align: top;"><hr class="first-child last-child" style="color: dimgrey; height: 1px; text-align: left;" />
</td></tr>
<tr style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"><td class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: center; vertical-align: top;"> <img alt="" class="first-child last-child" src="http://www.reversemortgage.org/portals/0/Images/News/msnbc.com-logo_thumb.jpg" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-style: none; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-style: none; border-left-width: 0px; border-right-style: none; border-right-width: 0px; border-style: initial; border-top-style: none; border-top-width: 0px; border-width: initial; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;" /></td><td class="last-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; vertical-align: top;"> <h3 class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: #555555; font-family: TitilliumText22LBold; font-size: 1.6em; font-weight: normal; line-height: 1.5; margin-bottom: 1em; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">
<strong class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">“</strong><strong class="last-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">More seniors use reverse mortgages to raise cash”</strong></h3>
<div class="last-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-size: 1.2em; line-height: 1.5; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">
<em class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">By Mark Koba</em><br />Finding themselves financially strapped, more seniors at an earlier age are trying to get reverse mortgages on their homes in order to survive, according to a new report. <a class="last-child" href="http://bottomline.msnbc.msn.com/_news/2012/03/16/10722646-more-seniors-use-reverse-mortgages-to-raise-cash" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: #a94400; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">Read more</a>.</div>
</td></tr>
<tr style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"><td class="first-child last-child" colspan="2" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: center; vertical-align: top;"><hr class="first-child last-child" style="color: dimgrey; height: 1px; text-align: left;" />
</td></tr>
<tr style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"><td class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: center; vertical-align: top;"> <img alt="" class="first-child last-child" src="http://www.reversemortgage.org/portals/0/Images/News/new-york-times-logo_thumb_thumb.jpeg" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-style: none; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-style: none; border-left-width: 0px; border-right-style: none; border-right-width: 0px; border-style: initial; border-top-style: none; border-top-width: 0px; border-width: initial; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;" /></td><td class="last-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; vertical-align: top;"><span class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-size: 18px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"><strong class="first-child last-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"><br class="first-child last-child" /></strong></span><h3 style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: #555555; font-family: TitilliumText22LBold; font-size: 1.6em; font-weight: normal; line-height: 1.5; margin-bottom: 1em; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">
<span class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-size: 16px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">“</span><span class="last-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-size: 16px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"><strong class="first-child last-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">More homeowners seeking reverse mortgages at earlier age</strong>”</span></h3>
<div class="last-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-size: 1.2em; line-height: 1.5; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">
<em class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">By Tara Siegel Bernard</em><br />Reverse mortgages have always been viewed as a last resort -- something that older retirees could turn to when they desperately needed to supplement their dwindling incomes. But in the wake of the housing market's collapse and high unemployment, a new study has found that people are using reverse mortgages to alleviate more urgent financial pressures...<a class="last-child" href="http://bucks.blogs.nytimes.com/2012/03/15/more-homeowners-seek-reverse-mortgages-at-earlier-age/" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: #a94400; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">Read more</a>.</div>
</td></tr>
<tr style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"><td class="first-child last-child" colspan="2" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: center; vertical-align: top;"><hr class="first-child last-child" style="color: dimgrey; height: 1px; text-align: left;" />
</td></tr>
<tr style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"><td class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: center; vertical-align: top;"> <img alt="" class="first-child last-child" src="http://www.reversemortgage.org/portals/0/Images/News/detroit-free-press.jpg" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-style: none; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-style: none; border-left-width: 0px; border-right-style: none; border-right-width: 0px; border-style: initial; border-top-style: none; border-top-width: 0px; border-width: initial; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;" /></td><td class="last-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; vertical-align: top;"><h3 class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: #555555; font-family: TitilliumText22LBold; font-size: 1.6em; font-weight: normal; line-height: 1.5; margin-bottom: 1em; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">
“Reverse mortgage can help with cash flow”</h3>
<div class="last-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-size: 1.2em; line-height: 1.5; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">
<em class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">By Rick Bloom</em><br />Dear Rick: I am a General Motors retiree. I've been retired for about 12 years. Between my pension and Social Security, it covers all my living expenses. In addition, when I pass away, my wife will continue to receive my pension. Friends told me that General Motors made an announcement that they will be ending pensions. Is that true? If it is and they do stop my pension, I will be short of income. <a class="last-child" href="http://www.freep.com/article/C5/20120226/NEWS15/202260423/Reverse-mortgage-can-help-cash-flow" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: #a94400; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;" target="_blank">Read more</a></div>
</td></tr>
<tr style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"><td class="first-child last-child" colspan="2" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: center; vertical-align: top;"> <hr class="first-child last-child" style="color: dimgrey; height: 1px; text-align: left;" />
</td></tr>
<tr style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"><td class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: center; vertical-align: top;"> </td><td class="last-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; vertical-align: top;"> </td></tr>
<tr style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"><td class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: center; vertical-align: top;"><a class="first-child last-child" href="http://www.latimes.com/business/la-fi-montalk-20120205,0,4117053.column" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: red; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;" target="_blank"><img alt="Los Angeles Times" class="first-child last-child" height="23" src="http://reversemortgage.org/portals/0/Images/News/la-times-logo.png" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-style: none; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-style: none; border-left-width: 0px; border-right-style: none; border-right-width: 0px; border-style: initial; border-top-style: none; border-top-width: 0px; border-width: initial; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;" width="152" /></a> </td><td class="last-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; vertical-align: top;"><h3 class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: #555555; font-family: TitilliumText22LBold; font-size: 1.6em; font-weight: normal; line-height: 1.5; margin-bottom: 1em; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">
“Reverse mortgage may be best option for elderly homeowner”</h3>
<div class="last-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-size: 1.2em; line-height: 1.5; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">
<em class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">By Liz Westin</em><br />Dear Liz: My healthy and active 82-year-old mother is faced with having to sell her home this year because she’s running out of money. She has lived a very minimal lifestyle for many years as her savings dwindled, and her income is now basically Social Security. <a class="last-child" href="http://www.latimes.com/business/la-fi-montalk-20120205,0,4117053.column" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: #a94400; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;" target="_blank">Read more</a></div>
</td></tr>
<tr style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"><td class="first-child last-child" colspan="2" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: center; vertical-align: top;"> <br class="first-child" /><hr style="color: dimgrey; height: 1px; text-align: left;" />
</td></tr>
<tr style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"><td class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: center; vertical-align: top;"><a class="first-child last-child" href="http://www.washingtonpost.com/realestate/reverse-mortgages-can-be-good-option-for-seniors/2011/11/01/gIQAnp3biM_story.html" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: red; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;" target="_blank"><img alt="Washington Post" class="first-child last-child" src="http://reversemortgage.org/Portals/_default/Skins/RM/DNNMega/Images/misc/wpost_logo.png" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-style: none; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-style: none; border-left-width: 0px; border-right-style: none; border-right-width: 0px; border-style: initial; border-top-style: none; border-top-width: 0px; border-width: initial; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;" /></a></td><td class="last-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; vertical-align: top;"><h3 class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: #555555; font-family: TitilliumText22LBold; font-size: 1.6em; font-weight: normal; line-height: 1.5; margin-bottom: 1em; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">
“Reverse mortgages can be good option for seniors”</h3>
<div class="last-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-size: 1.2em; line-height: 1.5; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">
<em class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">By Benny L. Kass</em><br />Do you know that if you are 62 years or older you may be able to buy a house or a condominium using a reverse mortgage? A reverse mortgage allows you to get money from a lender, but you do not have to pay it back (or make any monthly payments) until you sell or die. <a class="last-child" href="http://www.washingtonpost.com/realestate/reverse-mortgages-can-be-good-option-for-seniors/2011/11/01/gIQAnp3biM_story.html" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: #a94400; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;" target="_blank">Read more</a></div>
</td></tr>
<tr style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"><td class="first-child last-child" colspan="2" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: center; vertical-align: top;"><br class="first-child" /><hr style="color: dimgrey; height: 1px; text-align: left;" />
</td></tr>
<tr style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"><td class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: center; vertical-align: top;"><a class="first-child" href="http://www.suntimes.com/business/savage/3570534-452/mortgage-reverse-equity-interest-money.html" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: #a94400; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;" target="_blank"><img alt="Sun Times Chicago" class="first-child last-child" src="http://reversemortgage.org/Portals/_default/Skins/RM/DNNMega/Images/misc/suntimes_logo.png" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-style: none; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-style: none; border-left-width: 0px; border-right-style: none; border-right-width: 0px; border-style: initial; border-top-style: none; border-top-width: 0px; border-width: initial; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;" /></a><br class="last-child" /> </td><td class="last-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; vertical-align: top;"><h3 class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: #555555; font-family: TitilliumText22LBold; font-size: 1.6em; font-weight: normal; line-height: 1.5; margin-bottom: 1em; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">
“Understand reverse mortgage options”</h3>
<div class="last-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-size: 1.2em; line-height: 1.5; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">
<em class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">ByTerry Savage</em>If you know a senior homeowner who is running out of money, a reverse mortgage might generate enough cash to allow them to stay in their home for many more years. Last fall the Federal Housing Administration created new rules, and opportunities, for lower-cost reverse mortgages. Now that most lenders have launched these new products, it’s worth an updated look. <a class="last-child" href="http://www.suntimes.com/business/savage/3570534-452/mortgage-reverse-equity-interest-money.html" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: #a94400; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;" target="_blank">Read more</a>.</div>
</td></tr>
<tr style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"><td class="first-child last-child" colspan="2" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: center; vertical-align: top;"><br class="first-child" /><hr style="color: dimgrey; height: 1px; text-align: left;" />
</td></tr>
<tr style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"><td class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: center; vertical-align: top;"><a class="first-child" href="http://www.aarp.org/money/budgeting-saving/info-11-2011/tap-your-house-for-cash.html" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: red; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;" target="_blank"><img alt="inman" class="first-child last-child" src="http://reversemortgage.org/Portals/_default/Skins/RM/DNNMega/Images/misc/aarp_logo.png" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-style: none; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-style: none; border-left-width: 0px; border-right-style: none; border-right-width: 0px; border-style: initial; border-top-style: none; border-top-width: 0px; border-width: initial; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;" /></a><br class="last-child" /> </td><td class="last-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; vertical-align: top;"><h3 class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: #555555; font-family: TitilliumText22LBold; font-size: 1.6em; font-weight: normal; line-height: 1.5; margin-bottom: 1em; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">
“4 Ways to Tap Your House for Cash”</h3>
<h3 style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: #555555; font-family: TitilliumText22LBold; font-size: 1.6em; font-weight: normal; line-height: 1.5; margin-bottom: 1em; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">
Even in a down market, you can safely unlock your equity</h3>
<div class="last-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-size: 1.2em; line-height: 1.5; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">
<em class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">By Mark Miller</em>Reverse mortgages allow people age 62 or older to convert their home equity into cash. With a reverse mortgage, the bank pays the homeowner, who can elect to receive a lump sum, a line of credit or monthly payments. <a class="last-child" href="http://www.aarp.org/money/budgeting-saving/info-11-2011/tap-your-house-for-cash.html" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: #a94400; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;" target="_blank">Read more</a>.</div>
</td></tr>
<tr style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"><td class="first-child last-child" colspan="2" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: center; vertical-align: top;"><br class="first-child" /><hr style="color: dimgrey; height: 1px; text-align: left;" />
</td></tr>
<tr style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"><td class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: center; vertical-align: top;"><a class="first-child" href="http://money.usnews.com/money/blogs/the-best-life/2011/11/14/new-financial-standards-for-reverse-mortgages" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: red; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;" target="_blank"><img alt="US News Money" class="first-child last-child" src="http://reversemortgage.org/Portals/_default/Skins/RM/DNNMega/Images/misc/usnews_logo.png" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-style: none; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-style: none; border-left-width: 0px; border-right-style: none; border-right-width: 0px; border-style: initial; border-top-style: none; border-top-width: 0px; border-width: initial; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;" /></a><br class="last-child" /> </td><td class="last-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; vertical-align: top;"><h3 class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: #555555; font-family: TitilliumText22LBold; font-size: 1.6em; font-weight: normal; line-height: 1.5; margin-bottom: 1em; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">
“New Financial Standards for Reverse Mortgages”</h3>
<div class="last-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-size: 1.2em; line-height: 1.5; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">
<em class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">By Phil Moeller</em><br />Reverse mortgage lenders are beginning to require senior borrowers to qualify for loans by proving that they have enough money to continue paying property taxes, home insurance premiums, and other home upkeep expenses.<a class="last-child" href="http://money.usnews.com/money/blogs/the-best-life/2011/11/14/new-financial-standards-for-reverse-mortgages" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: #a94400; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;" target="_blank">Read more</a></div>
</td></tr>
<tr style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"><td class="first-child last-child" colspan="2" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: center; vertical-align: top;"> <br class="first-child" /><hr style="color: dimgrey; height: 1px; text-align: left;" />
</td></tr>
<tr style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"><td class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: center; vertical-align: top;"><a class="first-child" href="http://online.wsj.com/article/SB10001424052748704302704576253432433964952.html" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: red; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;" target="_blank"><img alt="Wall Street Journal" class="first-child last-child" src="http://reversemortgage.org/Portals/_default/Skins/RM/DNNMega/Images/misc/wsj_logo.png" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-style: none; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-style: none; border-left-width: 0px; border-right-style: none; border-right-width: 0px; border-style: initial; border-top-style: none; border-top-width: 0px; border-width: initial; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;" /></a><br class="last-child" /> </td><td class="last-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; vertical-align: top;"><h3 class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: #555555; font-family: TitilliumText22LBold; font-size: 1.6em; font-weight: normal; line-height: 1.5; margin-bottom: 1em; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">
“A Lower-Cost Reverse Mortgage”</h3>
<div style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-size: 1.2em; line-height: 1.5; margin-bottom: 1.5em; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">
<em class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">By Anne Tergesen</em> <br class="last-child" />A reverse mortgage has long been considered a loan of last resort because of its high fees. Now, a new type of reverse mortgage is reducing some fees dramatically. But older homeowners need to be aware of the trade-offs.</div>
<div class="last-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-size: 1.2em; line-height: 1.5; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">
Reverse mortgages allow people age 62 or older to convert their home equity into cash. With a reverse mortgage, the bank pays the homeowner, who can elect to receive a lump sum, a line of credit or monthly payments. <a class="first-child last-child" href="http://online.wsj.com/article/SB10001424052748704302704576253432433964952.html" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: #a94400; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;" target="_blank">Read more</a></div>
</td></tr>
<tr style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"><td class="first-child last-child" colspan="2" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: center; vertical-align: top;"> <br class="first-child" /><hr style="color: dimgrey; height: 1px; text-align: left;" />
</td></tr>
<tr class="last-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"><td class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: center; vertical-align: top;"><div class="left first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">
<a class="first-child last-child" href="http://www.inman.com/buyers-sellers/columnists/tomkelly/seniors-reverse-mortgage-experiences-mostly-positive" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: red; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;" target="_blank"><img alt="inman" class="first-child last-child" src="http://reversemortgage.org/Portals/_default/Skins/RM/DNNMega/Images/misc/inman_logo.png" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-style: none; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-style: none; border-left-width: 0px; border-right-style: none; border-right-width: 0px; border-style: initial; border-top-style: none; border-top-width: 0px; border-width: initial; float: left; margin-bottom: 0px; margin-left: 0px; margin-right: 25px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;" /></a></div>
<div style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">
<br class="first-child last-child" /></div>
<div class="right last-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">
</div>
</td><td class="last-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; vertical-align: top;"><h3 class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: #555555; font-family: TitilliumText22LBold; font-size: 1.6em; font-weight: normal; line-height: 1.5; margin-bottom: 1em; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">
“Seniors‘ reverse mortgage experiences mostly positive”</h3>
<h3 style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: #555555; font-family: TitilliumText22LBold; font-size: 1.6em; font-weight: normal; line-height: 1.5; margin-bottom: 1em; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">
Survey: More than 50% would recommend loan to family, friends.</h3>
<div class="last-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-size: 1.2em; line-height: 1.5; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">
<em class="first-child" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; background-position: initial initial; background-repeat: initial initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">By Tom Kelly</em><br />John Marttila has seen his share of slam-dunk winners and woeful losers. The leader of Boston-based Marttila Strategies, a public-opinion research firm, has worked for a wide variety of elected officials in all regions of the United States...<br /><a class="last-child" href="http://www.inman.com/buyers-sellers/columnists/tomkelly/seniors-reverse-mortgage-experiences-mostly-positive" style="background-attachment: initial; background-clip: initial; background-color: transparent; background-image: initial; background-origin: initial; border-bottom-width: 0px; border-color: initial; border-image: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: #a94400; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;" target="_blank">Read more</a>.</div>
</td></tr>
</tbody></table>
</div>
</div>
</div>
<br />
<div class="zemanta-related" style="margin-top: 20px; overflow: hidden;">
<h4 class="zemanta-related-title">
Related articles</h4>
<ul class="zemanta-article-ul" style="clear: left;">
<li class="zemanta-article-ul-li"><a href="http://patriciawhitlock.com/2012/03/31/hybrid-reverse-mortgage/" target="_blank">Hybrid Reverse Mortgage ?</a> (patriciawhitlock.com)</li>
<li class="zemanta-article-ul-li"><a href="http://boldrealestategroup.wordpress.com/2012/04/03/younger-seniors-reach-for-reverse-mortgages/" target="_blank">Younger Seniors Reach for Reverse Mortgages</a> (boldrealestategroup.wordpress.com)</li>
<li class="zemanta-article-ul-li"><a href="http://reversemn.blogspot.com/2010/08/what-is-reverse-mortgage.html" target="_blank">What is a reverse mortgage?</a> (reversemn.blogspot.com)</li>
<li class="zemanta-article-ul-li"><a href="http://patriciawhitlock.com/2012/03/09/certified-reverse-mortgage-professional/" target="_blank">Certified Reverse Mortgage Professional</a> (patriciawhitlock.com)</li>
<li class="zemanta-article-ul-li"><a href="http://www.prweb.com/releases/prweb2012/2/prweb9166181.htm" target="_blank">Maverick Funding Corp. Announces Additional Growth for Reverse Mortgage Network Subsidiary</a> (prweb.com)</li>
</ul>
</div>
<div class="zemanta-pixie" style="height: 15px; margin-top: 10px;">
<a class="zemanta-pixie-a" href="http://www.zemanta.com/" title="Enhanced by Zemanta"><img alt="Enhanced by Zemanta" class="zemanta-pixie-img" src="http://img.zemanta.com/zemified_c.png?x-id=dcb2b256-e9be-4768-99ff-8d744faf9ebc" style="border: none; float: right;" /></a></div>Anonymoushttp://www.blogger.com/profile/12595095919524610676noreply@blogger.com4tag:blogger.com,1999:blog-6277461136784100089.post-78500718999247319562011-11-21T15:49:00.000-08:002011-11-21T15:49:57.054-08:00Seniors' reverse mortgage experiences mostly positive<div style="background-color: white; border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: Arial, Helvetica, Verdana; line-height: 1.5; margin-bottom: 1.5em; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; vertical-align: baseline;"></div><h2 class="subtitle" style="border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; color: #635750; font-family: Arial, Verdana, sans-serif; font-size: 1.2em; line-height: 14px; margin-bottom: 0.3em; margin-left: 0px; margin-right: 0px; margin-top: 0px; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;">Survey: More than 50% would recommend loan to family, friends</h2><br />
<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi_-cMHE1gk7kyYN8Mfx2zvYOabDapNz3BkNvvcx-RBWuxt-ZU2YQLTrUaZ-qGVjinQZdIGaogehwSZvDOXyzZ95l1CCvydqK7eTj2XcOZ5KtqTwsTPgV6Ew0HRmlSW3G4Y-NHCkmlKrU8/s1600/Reverse-Mortgage.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="197" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi_-cMHE1gk7kyYN8Mfx2zvYOabDapNz3BkNvvcx-RBWuxt-ZU2YQLTrUaZ-qGVjinQZdIGaogehwSZvDOXyzZ95l1CCvydqK7eTj2XcOZ5KtqTwsTPgV6Ew0HRmlSW3G4Y-NHCkmlKrU8/s320/Reverse-Mortgage.jpg" width="320" /></a></div><div style="background-color: white; border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: Arial, Helvetica, Verdana; line-height: 1.5; margin-bottom: 1.5em; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: justify; vertical-align: baseline;"><span class="Apple-style-span" style="font-size: x-small;">John Marttila has seen his share of slam-dunk winners and woeful losers.</span><span class="Apple-style-span" style="font-size: x-small; line-height: 24px;">The leader of Boston-based Marttila Strategies, a public-opinion research firm, has worked for a wide variety of elected officials in all regions of the United States, including Vice President Joe Biden, former presidential candidate John Kerry, Massachusetts Gov. Deval Patrick, and other members of the U.S. House and Senate.</span><span class="Apple-style-span" style="font-size: x-small; line-height: 24px;">The company also was employed to measure and promote numerous successful ballot issues around the country.</span></div><div style="background-color: white; border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: Arial, Helvetica, Verdana; line-height: 1.5; margin-bottom: 1.5em; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: justify; vertical-align: baseline;"><span class="Apple-style-span" style="font-size: x-small;">But seldom has his research produced a more satisfied contingent as those his company polled regarding their experiences with reverse mortgages. While the financial product received a black eye for early versions that included an equity share with the lender, Marttila Strategies' recent survey revealed that today's seniors are extremely happy with their reverse loans</span></div><div style="background-color: white; border-bottom-width: 0px; border-color: initial; border-left-width: 0px; border-right-width: 0px; border-style: initial; border-top-width: 0px; font-family: Arial, Helvetica, Verdana; line-height: 1.5; margin-bottom: 1.5em; outline-color: initial; outline-style: initial; outline-width: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: justify; vertical-align: baseline;"><span class="Apple-style-span" style="font-size: x-small;">Read Full Article <a href="http://www.inman.com/buyers-sellers/columnists/tomkelly/seniors-reverse-mortgage-experiences-mostly-positive?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+inmannews+%28Inman+News+-+Headlines%29" target="_blank">Here</a></span></div>Anonymoushttp://www.blogger.com/profile/12595095919524610676noreply@blogger.com0tag:blogger.com,1999:blog-6277461136784100089.post-76843532107896414412011-08-24T15:07:00.000-07:002011-08-24T15:07:44.231-07:00Reverse Mortgages: Get the Facts Before Cashing in on Your Home’s Equity<h2></h2>If you’re 62 or older – and looking for money to finance a home improvement, pay off your current mortgage, supplement your retirement income, or pay for healthcare expenses – you may be considering a reverse mortgage. It’s a product that allows you to convert part of the equity in your home into cash without having to sell your home or pay additional monthly bills. <br />
The Federal Trade Commission (FTC), the nation’s consumer protection agency, wants you to understand how reverse mortgages work, the types of reverse mortgages available, and how to get the best deal.<br />
In a “regular” mortgage, you make monthly payments to the lender. In a “reverse” mortgage, you receive money from the lender, and generally don’t have to pay it back for as long as you live in your home. The loan is repaid when you die, sell your home, or when your home is no longer your primary residence. The proceeds of a reverse mortgage generally are tax-free, and many reverse mortgages have no income restrictions.<br />
<h3>Types of Reverse Mortgages</h3>There are three types of reverse mortgages:<br />
<ul><li> <em>single-purpose reverse mortgages</em>, offered by some state and local government agencies and nonprofit organizations</li>
<li> <em>federally-insured reverse mortgages</em>, known as Home Equity Conversion Mortgages (HECMs) and backed by the U. S. Department of Housing and Urban Development (HUD)</li>
<li> <em>proprietary reverse mortgages</em>, private loans that are backed by the companies that develop them</li>
</ul><blockquote> Single-purpose reverse mortgages are the least expensive option. They are not available everywhere and can be used for only one purpose, which is specified by the government or nonprofit lender. For example, the lender might say the loan may be used only to pay for home repairs, improvements, or property taxes. Most homeowners with low or moderate income can qualify for these loans.<br />
HECMs and proprietary reverse mortgages may be more expensive than traditional home loans, and the upfront costs can be high. That’s important to consider, especially if you plan to stay in your home for just a short time or borrow a small amount. HECM loans are widely available, have no income or medical requirements, and can be used for any purpose.<br />
</blockquote>Before applying for a HECM, you must meet with a counselor from an independent government-approved housing counseling agency. Some lenders offering proprietary reverse mortgages also require counseling. The counselor is required to explain the loan’s costs and financial implications, and possible alternatives to a HECM, like government and nonprofit programs or a single-purpose or proprietary reverse mortgage. The counselor also should be able to help you compare the costs of different types of reverse mortgages and tell you how different payment options, fees, and other costs affect the total cost of the loan over time. To find a counselor, visit <a href="http://www.hud.gov/offices/hsg/sfh/hecm/hecmlist.cfm">www.hud.gov/offices/hsg/sfh/hecm/hecmlist.cfm</a> or call 1-800-569-4287. Most counseling agencies charge around $125 for their services. The fee can be paid from the loan proceeds, but you cannot be turned away if you can’t afford the fee. <br />
How much you can borrow with a HECM or proprietary reverse mortgage depends on several factors, including your age, the type of reverse mortgage you select, the appraised value of your home, and current interest rates. In general, the older you are, the more equity you have in your home, and the less you owe on it, the more money you can get.<br />
The HECM lets you choose among several payment options. You can select:<br />
<ul><li> a “term” option – fixed monthly cash advances for a specific time.</li>
<li> a “tenure” option – fixed monthly cash advances for as long as you live in your home.</li>
<li> a line of credit that lets you draw down the loan proceeds at any time in amounts you choose until you have used up the line of credit.</li>
<li> a combination of monthly payments and a line of credit.</li>
</ul>You can change your payment option any time for about $20.<br />
HECMs generally provide bigger loan advances at a lower total cost compared with proprietary loans. But if you own a higher-valued home, you may get a bigger loan advance from a proprietary reverse mortgage. So if your home has a higher appraised value and you have a small mortgage, you may qualify for more funds. <br />
<h2> Loan Features</h2>Reverse mortgage loan advances are not taxable, and generally don’t affect your Social Security or Medicare benefits. You retain the title to your home, and you don’t have to make monthly repayments. The loan must be repaid when the last surviving borrower dies, sells the home, or no longer lives in the home as a principal residence. <br />
In the HECM program, a borrower can live in a nursing home or other medical facility for up to 12 consecutive months before the loan must be repaid.<br />
If you’re considering a reverse mortgage, be aware that:<br />
<ul><li> Lenders generally charge an origination fee, a mortgage insurance premium (for federally-insured HECMs), and other closing costs for a reverse mortgage. Lenders also may charge servicing fees during the term of the mortgage. The lender sometimes sets these fees and costs, although origination fees for HECM reverse mortgages currently are dictated by law. Your upfront costs can be lowered if you borrow a smaller amount through a reverse mortgage product called a "HECM Saver."</li>
<li> The amount you owe on a reverse mortgage grows over time. Interest is charged on the outstanding balance and added to the amount you owe each month. That means your total debt increases as the loan funds are advanced to you and interest on the loan accrues. </li>
<li> Although some reverse mortgages have fixed rates, most have variable rates that are tied to a financial index: they are likely to change with market conditions.</li>
<li> Reverse mortgages can use up all or some of the equity in your home, and leave fewer assets for you and your heirs. Most reverse mortgages have a “nonrecourse” clause, which prevents you or your estate from owing more than the value of your home when the loan becomes due and the home is sold. However, if you or your heirs want to retain ownership of the home, you usually must repay the loan in full – even if the loan balance is greater than the value of the home. </li>
<li> Because you retain title to your home, you are responsible for property taxes, insurance, utilities, fuel, maintenance, and other expenses. If you don’t pay property taxes, carry homeowner’s insurance, or maintain the condition of your home, your loan may become due and payable. </li>
<li> Interest on reverse mortgages is not deductible on income tax returns until the loan is paid off in part or whole. </li>
</ul><h3>Getting a Good Deal </h3>If you’re considering a reverse mortgage, shop around. Compare your options and the terms various lenders offer. Learn as much as you can about reverse mortgages before you talk to a counselor or lender. That can help inform the questions you ask that could lead to a better deal.<br />
<ul><li> If you want to make a home repair or improvement – or you need help paying your property taxes – find out if you qualify for any low-cost single-purpose loans in your area. Area Agencies on Aging (AAAs) generally know about these programs. To find the nearest agency, visit <a href="http://www.eldercare.gov/Eldercare.NET/Public/Index.aspx">www.eldercare.gov</a> or call 1-800-677-1116. Ask about “loan or grant programs for home repairs or improvements,” or “property tax deferral” or “property tax postponement” programs, and how to apply. </li>
<li> All HECM lenders must follow HUD rules. And while the mortgage insurance premium is the same from lender to lender, most loan costs, including the origination fee, interest rate, closing costs, and servicing fees vary among lenders. </li>
<li> If you live in a higher-valued home, you may be able to borrow more with a proprietary reverse mortgage, but the more you borrow, the higher your costs. The best way to see key differences between a HECM and a proprietary loan is to do a side-by-side comparison of costs and benefits. Many HECM counselors and lenders can give you this important information. </li>
<li> No matter what type of reverse mortgage you’re considering, understand all the conditions that could make the loan due and payable. Ask a counselor or lender to explain the Total Annual Loan Cost (TALC) rates: they show the projected annual average cost of a reverse mortgage, including all the itemized costs. </li>
</ul><h3>Be Wary of Sales Pitches</h3>Some sellers may offer you goods or services, like home improvement services, and then suggest that a reverse mortgage would be an easy way to pay for them. If you decide you need what’s being offered, shop around before deciding on any particular seller. Keep in mind that the total cost of the product or service is the price the seller quotes plus the costs – and fees – tied to getting the reverse mortgage.<br />
Some who offer reverse mortgages may pressure you to buy other financial products, like an annuity or long term care insurance. Resist that pressure. You don’t have to buy any products or services to get a reverse mortgage (except to maintain the adequate homeowners or hazard insurance that HUD and other lenders require). In fact, in some situations, it’s illegal to require you to buy other products to get a reverse mortgage. <br />
The bottom line: If you don’t understand the cost or features of a reverse mortgage or any other product offered to you – or if there is pressure or urgency to complete the deal – walk away and take your business elsewhere. Consider seeking the advice of a family member, friend, or someone else you trust. <br />
<h3> Your Right to Cancel</h3>With most reverse mortgages, you have at least three business days after closing to cancel the deal for any reason, without penalty. To cancel, you must notify the lender in writing. Send your letter by certified mail, and ask for a return receipt. That will allow you to document what the lender received and when. Keep copies of your correspondence and any enclosures. After you cancel, the lender has 20 days to return any money you’ve paid up to then for the financing.<br />
<h3> Reporting Possible Fraud</h3>If you suspect that someone involved in the transaction may be violating the law, let the counselor, lender, or loan servicer know. Then, file a complaint with:<br />
<ul><li> the Federal Trade Commission (FTC). You can do that online at <a href="https://www.ftccomplaintassistant.gov/">www.ftccomplaintassistant.gov</a> or by phone at 1-877-FTC-HELP (1-877-382-4357). </li>
<li> your <a href="http://www.naag.org/">state Attorney General</a>’s office or <a href="http://www.csbs.org/Pages/default.aspx">state banking regulatory agency</a>. </li>
</ul>Whether a reverse mortgage is right for you is a big question. Consider all your options. You may qualify for less costly alternatives. The following organizations have more information: <br />
<strong>Reverse Mortgage Education Project</strong><br />
AARP Foundation<br />
601 E Street, NW<br />
Washington, DC 20049<br />
<a href="http://www.aarp.org/revmort">www.aarp.org/revmort</a><br />
1-800-209-8085 <br />
<strong>U. S. Department of Housing and Urban Development (HUD)</strong><br />
451 7th Street, SW<br />
Washington, DC 20410<br />
<a href="http://www.hud.gov/offices/hsg/sfh/hecm/rmtopten.cfm">www.hud.gov/offices/hsg/sfh/hecm/rmtopten.cfm</a><br />
1-800-CALL-FHA (1-800-225-5342)<br />
<strong>Federal Trade Commission</strong><br />
Consumer Response Center<br />
600 Pennsylvania Avenue, NW<br />
Washington, DC 20580<br />
<a href="http://www.ftc.gov/bcp/menus/consumer/credit.shtm">www.ftc.gov/bcp/menus/consumer/credit.shtm</a> — Click on “Mortgages & Your Home” <br />
1-877-FTC-HELP (1-877-382-4357)<br />
The FTC works to prevent fraudulent, deceptive and unfair business practices in the marketplace and to provide information to help consumers spot, stop and avoid them. To file a <a href="https://www.ftccomplaintassistant.gov/">complaint</a> or get <a href="http://www.ftc.gov/bcp/consumer.shtm">free information on consumer issues</a>, visit <a href="http://ftc.gov/">ftc.gov</a> or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261. Watch a video, <u><a href="http://www.ftc.gov/multimedia/video/scam-watch/file-a-complaint.shtm">How to File a Complaint</a></u>, at <a href="http://www.ftc.gov/video">ftc.gov/video</a> to learn more. The FTC enters consumer complaints into the <a href="http://www.ftc.gov/sentinel/">Consumer Sentinel Network</a>, a secure online database and investigative tool used by hundreds of civil and criminal law enforcement agencies in the U.S. and abroad.Anonymoushttp://www.blogger.com/profile/12595095919524610676noreply@blogger.com1tag:blogger.com,1999:blog-6277461136784100089.post-32211530614951883722010-08-30T06:14:00.001-07:002010-08-30T06:14:23.053-07:00Program Overview<div style="display: block;"><div id="content1"><div style="display: block;"><div style="display: block;"><div style="line-height: 150%;"><span style="color: #090808; font-family: Arial;">Today, there are more homeownership options for retired individuals and couples than ever before.</span></div><div style="line-height: 150%;"><span style="font-family: Arial;"><span style="color: #090808;"><strong><span style="color: #0e8ce1;">Make the Most of Retirement!</span></strong><br />
If you are at least 62 years old and have low or no outstanding mortgage debt, our Reverse Mortgage programs allow you to borrow against the equity you've built in your home without your repaying the debt for as long as you live there. That's the "reverse" part of this kind of mortgage loan. Instead of making monthly payments, you can opt to receive them!<br />
<br />
<img alt="" height="294" src="http://www.reversemortgageassociation.com/images/purestock_1574r-03087a.medium.jpg" title="" width="442" /><br />
<br />
<strong><span style="color: #0e8ce1;">Reverse Mortgage vs. Traditional Refinance Loans</span></strong><br />
Traditional refinance loans mean that the homeowner borrows a large amount of money and makes monthly payments. As payments are made, the loan balance gets smaller and the equity grows.</span></span></div><div style="line-height: 150%;"><span style="color: #090808; font-family: Arial;">With a Reverse Mortgage, the homeowner borrows small amounts - monthly or at other intervals through a line of credit. Over the course of time, the loan balance gets larger, and equity gets smaller. Payment is required only once, at the end of the loan, which in most cases is when the homeowner dies, sells or no longer uses the home as a primary residence.</span></div><div style="line-height: 150%;"><span style="font-family: Arial;"><span style="color: #090808;"><strong><span style="color: #0e8ce1;">Flexible Access to Extra Income</span></strong><br />
Reverse Mortgages allow borrowers to obtain loan proceeds:</span></span></div><ul><li><div style="line-height: 150%;"><span style="color: #090808; font-family: Arial;">in a lump sum to cover large expenses</span></div></li>
<li><div style="line-height: 150%;"><span style="color: #090808; font-family: Arial;">in monthly installments to supplement income</span></div></li>
<li><div style="line-height: 150%;"><span style="color: #090808; font-family: Arial;">as a line of credit to draw on as necessary</span></div></li>
</ul><div style="line-height: 150%;"><span style="color: #090808; font-family: Arial;">There is even a choice for an immediate cash advance in addition to monthly allotments. And borrowers can change funds-distribution plans as many times as they wish.</span></div><div style="line-height: 150%;"><strong><span style="color: #0e8ce1; font-family: Arial;">Stay in Your Home with Peace of Mind</span></strong></div><ul><li><div style="line-height: 150%;"><span style="color: #090808; font-family: Arial;">There are no income, employment or credit qualifying restrictions.*</span></div></li>
<li><div style="line-height: 150%;"><span style="color: #090808; font-family: Arial;">Maximum loan amount is based on age, where borrower lives and the value of the home. The amount owed can never exceed property value, so a Reverse Mortgage can never cause you to lose your home.</span></div></li>
<li><div style="line-height: 150%;"><span style="color: #090808; font-family: Arial;">The funds received during loan term, plus any accrued interest, become due when borrower sells or no longer uses the home as a primary residence.</span></div></li>
</ul></div></div></div></div>Anonymoushttp://www.blogger.com/profile/12595095919524610676noreply@blogger.com0tag:blogger.com,1999:blog-6277461136784100089.post-52501869408903149772010-08-16T22:51:00.000-07:002010-08-16T22:51:04.083-07:00What is a reverse mortgage?<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhi9KyI3CYE03h3DepTjoN5mqYbUU0omrC7K5GAm3Zw0F-PaoJpym_zIb7dtr2IWZFyU_8Y-oxFe07RfCONQu8NL-F4rvcpjIU6Lgr6AZP0ijegKhZZEHqU5gObPWjwsYgDH9X-766rj48/s1600/reverse_mortgages.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="212" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhi9KyI3CYE03h3DepTjoN5mqYbUU0omrC7K5GAm3Zw0F-PaoJpym_zIb7dtr2IWZFyU_8Y-oxFe07RfCONQu8NL-F4rvcpjIU6Lgr6AZP0ijegKhZZEHqU5gObPWjwsYgDH9X-766rj48/s320/reverse_mortgages.jpg" width="320" /></a></div><div style="text-align: justify;">A <b>reverse mortgage</b> (or <b><a class="mw-redirect" href="http://en.wikipedia.org/wiki/Lifetime_mortgage" title="Lifetime mortgage">lifetime mortgage</a></b>) is a <a href="http://en.wikipedia.org/wiki/Loan" title="Loan">loan</a> available to seniors, and is used to release the <a href="http://en.wikipedia.org/wiki/Home_equity" title="Home equity">home equity</a> in the property as one lump sum or multiple payments. The homeowner's obligation to repay the loan is deferred until the owner dies, the home is sold, or the owner leaves (<i>e.g.,</i> into <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Aged_care" title="Aged care">aged care</a>).</div><div style="text-align: justify;"><br />
</div><div> </div><div style="text-align: justify;">In a conventional <a href="http://en.wikipedia.org/wiki/Mortgage_loan" title="Mortgage loan">mortgage</a> the homeowner makes a monthly <a href="http://en.wikipedia.org/wiki/Amortization_schedule" title="Amortization schedule">amortized</a> payment to the <a class="extiw" href="http://en.wiktionary.org/wiki/lender" title="wiktionary:lender">lender</a>; after each payment the equity increases within his or her property, and typically after the end of the term (<i>e.g.,</i> 30 years) the mortgage has been paid in full and the property is released from the lender. In a reverse mortgage, the home owner makes no payments and all interest is added to the <a href="http://en.wikipedia.org/wiki/Lien" title="Lien">lien</a> on the property. If the owner receives monthly payments, or a bulk payment of the available equity percentage for their age, then the debt on the property increases each month.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"> If a property has increased in value after a reverse mortgage is taken out, it is possible to acquire a second (or third) reverse mortgage over the increased equity in the home. But in certain countries (including the United States), a reverse mortgage must be the only mortgage on the property.</div><div style="text-align: justify;"></div><div style="text-align: justify;"><h3><span class="editsection"></span> <span class="mw-headline" id="Requirements">Requirements</span></h3>To qualify for a reverse mortgage in the United States, the borrower must be at least 62 years of age. There are no minimum income or credit requirements, but there are other requirements and homeowners should make sure that they qualify for the loan before they invest significant time or money into the process. For most reverse mortgages, the money can be used for any purpose; however, the borrower must pay off any existing mortgage(s) with the proceeds from the reverse mortgage and, if needed, additional personal funds. A pending <a href="http://en.wikipedia.org/wiki/Bankruptcy" title="Bankruptcy">bankruptcy</a> which has not been finalized may, however, slow the process. Some types of dwellings do not qualify, while others (like mobile homes) have special requirements (such as being on an approved permanent foundation and built after 1976) in order to be approved. Before borrowing, applicants must seek third party financial counseling from a source which is approved by the <a class="mw-redirect" href="http://en.wikipedia.org/wiki/Department_of_Housing_and_Urban_Development" title="Department of Housing and Urban Development">Department of Housing and Urban Development</a> (HUD). The counseling is a safeguard for the borrower and his/her family, to make sure the borrower completely understands what a reverse mortgage is and how one is obtained. The current lending limit (the maximum the home can be appraised for, no matter how much it's worth) is $625,500. This was increased in 2009, after being raised from $200,000 to $417,000 in 2008. The maximum an originator can charge for a loan origination fee on a reverse mortgage is $6,000.<br />
<br />
The older the individual is, the more lenient the qualifications become, as the mortality rate increases with age. Once you make application and have been given the proper information and consultation with a seasoned professional, you will be required to attend a counseling session given by a HUD-approved counselor (in the US). These sessions typically cost anywhere between $ 100 - $ 125 (in the US) although some agencies receive federal grants which allow them to provide it for free. This allows another opportunity to ask all the necessary and proper questions. During the loan and the remainder of its life, you cannot be asked to leave the property, as you still are the owner and deed holder. This is the case whether you outlast the performance of the loan or not. As far as your heirs go, they are still entitled to the property upon your passing. The estate will be settled in the normal way, the property will be passed on to the heirs, and they can refinance out of the reverse mortgage. If they decide not to reside in the property, they can sell the unit, pay off the reverse mortgage, and keep the balance of the monies of the estate. They have one year, from the passing of the note holders, to settle the mortgage.<br />
<br />
<a href="http://en.wikipedia.org/wiki/Reverse_mortgage">Read More </a><br />
</div>Anonymoushttp://www.blogger.com/profile/12595095919524610676noreply@blogger.com2