The Best Reverse Mortgages

U.S. News published a recent article titled, "6 Steps to Retirement Happiness", which offers steps to making a smooth transition into retirement.  One of the steps focuses on taking care of the money issue in which a reverse mortgage is one of the solutions.  The author points out that taking cash out with a reverse mortgage can help obtain control over your budget and life. Read the entire article here . For more information on reverse mortgages and other related topics contact: Rick R. Rodriguez Certified Reverse Mortgage Professional, CRMP NMLS# 473353 Toll Free (877) 500-0454 Local (702) 460-6222

According to Zillow , the number of U.S. homeowners underwater on their mortgages has decreased by more than 40% since 2012.  This obviously signals good news for the housing market and homeowners looking to refinance and buy homes.  The negative equity rate has been cut in half since 2012 in some of the hardest hit markets such as Miami, Atlanta, Detroit, Riverside, and Las Vegas.  In the reverse mortgage industry, we have seen volume pick up in areas such as Las Vegas now that more homeowners are able to qualify for a reverse mortgage. For more information on reverse mortgages and other related topics contact: Rick R. Rodriguez Certified Reverse Mortgage Professional, CRMP NMLS# 473353 Toll Free (877) 500-0454 Local (702) 460-6222

The National Association of Realtors recently published the top metro areas attractive to baby boomer buyers.  Warm weather climate has always been a big draw for boomers, but the article also points out to several other important factors to them such as housing affordability, lower tax rates and a welcoming business environment.  Read the entire article by clicking here . For more information on reverse mortgages and other related topics contact: Rick R. Rodriguez Certified Reverse Mortgage Professional, CRMP NMLS# 473353 Toll Free (877) 500-0454 Local (702) 460-6222

What happens when a reverse mortgage homeowner passes away? Well, the heirs must communicate their plans for the home to the loan servicer.  FHA requires loan servicers to send a letter stating that the balance of the loan is due, and the heirs or estate must respond within 30 days or else foreclosure proceedings may be initiated.  The advice I give to all my clients is that being proactive is the best practice.  First, the heirs should be aware that there is a reverse mortgage in place which requires involvement and communication amongst the family.  Secondly, when the reverse mortgage borrowers have passed, the heirs should contact the servicer as soon as they can to avoid any possible lapse in time or potential miscommunication with the servicer.  The Wall Street Journal recently published an article discussing this exact topic and tips to avoid surprises with your reverse mortgage.  Read the full article here . For more information on reverse mortgages and other related topics

Find out everything you need to know about reverse mortgages from the comforts of your home.  We have representatives on call nationwide who will meet with senior homeowners in person to help them better understand the reverse mortgage process.  Homeowners age 62 or older who have equity in their homes and occupy the property may qualify for FHA's Home Equity Conversion Mortgage (HECM).  The HECM reverse mortgage is the most common and will allow a senior to withdraw cash from their home in the form of a lump sum, line of credit, or a fixed monthly amount or a combination of any of the three.  The HECM for Purchase program will allow a senior to purchase a primary residence with cash on hand or from a recent sale that will cover the difference between the HECM proceeds and the sales price plus any closings costs.  This program can help seniors not only better qualify for their desired home, but also help them retain more assets for retirement use. For more information on revers

Senior homeowners who want to get a reverse mortgage may want to consider including their adult children.  Typically more communication between the family is better.  However, different family dynamics and the family's financial culture will also play a role in whether the children should be part of the discussions.  The general rule of thumb is to include the children so that everyone is on the same page and there are no surprises later.   Bankrate.com recently published an article on this topic which you can read here . For more information on reverse mortgages and other related topics contact: Rick R. Rodriguez Certified Reverse Mortgage Professional, CRMP NMLS# 473353 Toll Free (877) 500-0454 Local (702) 460-6222

Eliminate credit card debt and avoid building new credit debt. For more information on reverse mortgages and other related topics contact: Rick R. Rodriguez Certified Reverse Mortgage Professional, CRMP NMLS# 473353 Toll Free (877) 500-0454 Local (702) 460-6222

The Department of Housing and Urban Development (HUD) released Mortgagee Letter 2014-22 on November 10, 2014 to announce the implementation of financial assessment.  The financial assessment for reverse mortgages will take effect for all case numbers issued on or after March 2, 2015.  According to HUD, "the mortgagee must evaluate the mortgagor's willingness and capacity to timely meet his or her financial obligations."  The idea from HUD's standpoint is to make the HECM a safer product.  However, many have raised the question whether HUD is considering the impact these changes will have on low to moderate income level households.  There is concern in the reverse mortgage industry that many senior homeowners will not qualify and will be held back from an opportunity to improve their lives.   The original intent of the HECM was to help our seniors improve their financial situation, and it seems that these changes will take away from the spirit.  Stay tuned and keep

Builder confidence in the 55+ housing market has never been greater than what was reported in the third quarter for 2014, according to data from the National Association of Home Builders ( NAHB ).  This has been largely attributed to the rise in home equity which is providing consumers with the option of now selling their homes to relocate to more desirable areas.  In addition, many are also motivated to downsize their homes and simplify their living in low maintenance communities.  "Demand for 55+ housing has never been higher, and this quarter's index clearly demonstrates that," said Steve Bomberger, chariman of NAHB's 55+ Housing Council.  "Consumers in this market are looking for a home that caters toward their specific needs, and 55+ builders and developers are able to create homes and communities that address these needs."  With this increase demand, the Reverse Mortgage Purchase program (aka HECM for Purchase ) should help fuel the success of this ma

Stay active and use a reverse mortgage to pay for an Uber or Lyft account and improve your mobility to keep your appointments and social activities ongoing. For more information on reverse mortgages and other related topics contact: Rick R. Rodriguez Certified Reverse Mortgage Professional, CRMP NMLS# 473353 Toll Free (877) 500-0454 Local (702) 460-6222

According to the latest research from The Demand Institute , baby boomers are expected to upsize their living spaces and take out new mortgages to do so.  The expectation is that they will spend $1.9 Trillion on home purchases over the next 5 years.  Historically, senior homeowners prefer to pay cash on their home purchases to avoid the burden of a mortgage payment during their retirement years. However, their cash can be put to better use by utilizing a HECM for Purchase as a retirement planning tool. The HECM Purchase program (aka Reverse Mortgage Purchase) can help a senior homeowner retain more of their cash assets without requiring a monthly payment in return.  The program will  finance over fifty percent of the purchase price (in most cases) which will strengthen a seniors cash position and give them greater financial flexibility and security. We are a leading lender in the Reverse Mortgage Industry, and we are licensed nationwide to offer the HECM for Purchase program and ot

The HECM For Purchase Program (aka Reverse Mortgage Purchase Program) has not been well known among realtors and senior homebuyers until recently.  There has been more media attention surrounding this program than ever before.  This could be in part to the increase in home sales over the past two years which has brought added interest in the program.  It is now being considered a viable option to purchase a home and save more assets for retirement.  Read the entire article here and learn more about the Reverse Mortgage Purchase program here . For more information on reverse mortgages and other related topics contact: Rick R. Rodriguez Certified Reverse Mortgage Professional, CRMP NMLS# 473353 Toll Free (877) 500-0454 Local (702) 460-6222

Use a reverse mortgage to cover expenses and avoid capital gains tax consequences from selling off other assets. For more information on reverse mortgages and other related topics contact: Rick R. Rodriguez Certified Reverse Mortgage Professional, CRMP NMLS# 473353 Toll Free (877) 500-0454 Local (702) 460-6222

If you are looking for a better opportunity to make more income in the reverse mortgage industry, now is the time to make that change.  Join one of the top reverse mortgage lenders in the nation and grow your business across the country.  You will benefit from our licensing platform that includes 48 states, the support of our fulfillment & processing departments, plus a compensation plan that will help propel you to the next level.  We are hiring nationwide. For more information on reverse mortgages and other related topics contact: Rick R. Rodriguez Certified Reverse Mortgage Professional, CRMP NMLS# 473353 Toll Free (877) 500-0454 Local (702) 460-6222

If you are planning on refinancing or selling your home, you might want to consider that sooner than later.   USA Today is reporting that many markets are now experiencing a slowdown in home price appreciation rates this year from the previous year and homes are sitting on the market longer than they did just six month's ago.  Signaling that it is no longer a seller's market in many parts of the country.  Read the entire article by clicking here . For more information on reverse mortgages and other related topics contact: Rick R. Rodriguez Certified Reverse Mortgage Professional, CRMP NMLS# 473353 Toll Free (877) 500-0454 Local (702) 460-6222

It's been long overdue, but mainstream media is showing signs that they have a better understanding of  a reverse mortgage and its benefits.  The same news outlets that discouraged reverse mortgages over the years are now changing their tune.  Recent articles in the Wall Street Journal , NY Times and Bloomberg News have demonstrated a more fair and balanced depiction of the program.  The program that was once viewed as a "last resort" is now being recommended by financial planners as a retirement planning tool.  This a big shift for an industry that has had to continually defend itself and prove its worthiness as a viable option for senior homeowners.  Click here to read a recent related article by ReverseMortgageDaily. For more information on reverse mortgages and other related topics contact: Rick R. Rodriguez Certified Reverse Mortgage Professional, CRMP NMLS# 473353 Toll Free (877) 500-0454 Local (702) 460-6222

Don't wait until a need or emergency arises to seek out financial resources...it may be too late at that point!  Use a reverse mortgage to obtain a cash distribution or set up a line of credit that will be available when emergencies happen to you or your family. For more information on reverse mortgages and other related topics contact: Rick R. Rodriguez Certified Reverse Mortgage Professional, CRMP NMLS# 473353 Toll Free (877) 500-0454 Local (702) 460-6222

According to a recent Huffington Post blog, reverse mortgages are gaining recognition for the vast need that lies ahead when it comes to the nation's severe retirement crisis.  The volatility of the securities portfolio of the 401(k) account or the IRA is making the reverse mortgage more attractive to affluent homeowners.  A reverse mortgage can be used to draw upon and allow the portfolio of other investments to recover.  Read the full article by clicking here . For more information on reverse mortgages and other related topics contact: Rick R. Rodriguez Certified Reverse Mortgage Professional, CRMP NMLS# 473353 Toll Free (877) 500-0454 Local (702) 460-6222

Pay for long-term care needs.  One of the many uses of a reverse mortgage is to help you afford the proper care and services you may need as you become older. For more information on reverse mortgages and other related topics contact: Rick R. Rodriguez Certified Reverse Mortgage Professional, CRMP NMLS# 473353 Toll Free (877) 500-0454 Local (702) 460-6222

Buy a home with a reverse mortgage .  Use proceeds from the sale of one home combined with a reverse mortgage to buy a new home without monthly mortgage payments and retain more of your cash assets. For more information on reverse mortgages and other related topics contact: Rick R. Rodriguez Certified Reverse Mortgage Professional, CRMP NMLS# 473353 Toll Free (877) 500-0454 Local (702) 460-6222

A recent article in the New York Times confirms that the time is coming for reverse mortgage loans, whether some people like it or not.  The writer states, "Call the loans and the lenders and the executives who run them all the names you want.  But the tool they sell is one whose time is coming, and people who refuse even to consider a reverse mortgage in the coming years may do themselves a disservice. "  Read the entire article here . For more information on reverse mortgages and other related topics contact: Rick R. Rodriguez Certified Reverse Mortgage Professional, CRMP NMLS# 473353 Toll Free (877) 500-0454 Local (702) 460-6222

Reverse mortgages can provide a "standby" cash reserve to give you more flexibility through the ups and downs of investment markets For more information on reverse mortgages and other related topics contact: Rick R. Rodriguez Certified Reverse Mortgage Professional, CRMP NMLS# 473353 Toll Free (877) 500-0454 Local (702) 460-6222

U.S. News just published an article detailing the recent changes made by FHA to revamp the reverse mortgage program.  FHA Reverse Mortgages , also known as HECM's (Home Equity Conversion Mortgage), made changes to address the default issue for some borrowers.  Read the entire article by clicking here . For more information on reverse mortgages and other related topics contact: Rick R. Rodriguez Certified Reverse Mortgage Professional, CRMP NMLS# 473353 Toll Free (877) 500-0454 Local (702) 460-6222

Use a reverse mortgage to pay for your children's or grandchildren's college or professional education. Rick R. Rodriguez Certified Reverse Mortgage Professional, CRMP NMLS# 473353 Toll Free (877) 500-0454 Local (702) 460-6222

A reverse mortgage can be used to obtain monthly payments for life which combined with Social Security payments can replace your salary and maintain your monthly routine of paying bills from new income.

Rick Rodriguez is a professionally licensed reverse mortgage agent who has been specializing in reverse mortgages since 2004.  Rick is licensed nationwide (NMLS #473353), so he can offer reverse mortgages in all 50 states.  He has been considered one of the best reverse mortgage agents in the industry helping tens of thousands of seniors understand the reverse mortgage program.  Contact Rick to learn more about reverse mortgages. Rick Rodriguez 2225 Village Walk Dr. #260 Henderson, NV. 89052 877.576.3783 toll free www.reversemortgageproficio.com

Use a reverse mortgage to pay your Medicare Part B and Part D costs

Use the proceeds from a reverse mortgage to pay for health insurance during early retirement years until eligible for Medicare at age 65

A reverse mortgage can help cover monthly expenses to avoid selling assets at depressed values

Use a reverse mortgage to cover monthly expenses and hold on to other assets while their value continues to grow

Use a reverse mortgage to create a line of credit (which will grow) that can be used for health emergencies and unexpected surprises.

Remodel your home to make it more functional for yourself as you age.  Widened a doorway, build a walk-in tub, add a room, etc...Use a reverse mortgage to make your home more enjoyable!

USA Today   published a recent article which answered a readers question on whether a homeowner can get a reverse mortgage and then put the house for sale.  The response is yes.  As long as the homeowner is living in the home they wish to sell and it's their primary residence, then there is no issue with that.  This could potentially help a senior homeowner obtain cash for living and/or selling expenses while the property is on the market. Contact Rick Rodriguez, Sales Manager #473353 and Reverse Mortgage Specialist licensed nationwide. Toll Free:  877.576.3783 Direct:  702.460.6222 www.reversemortgageproficio.com

Seniors who are looking to purchase a home can use a FHA reverse mortgage to help them qualify and keep more cash in their pocket.  The HECM For Purchase program is designed to keep more assets in hand by not requiring monthly payments and giving seniors another option instead of purchasing a home for cash.  The program will finance the majority of the purchase price and has less qualifying conditions than a traditional forward mortgage.  The HECM For Purchase is being utilized as a retirement planning tool to increase cash flow and investment opportunities.  Contact Rick Rodriguez for a free brochure on the program. 

The Department of Housing and Urban Development (HUD) has issued their June Scorecard and it is signaling that a healthy housing recovery is underway.  As a result of double-digit gains in home sales, declining foreclosures and strong home equity growth in May, HUD states these are all signs of a healthy recovery.  These gains along with recent changes to the FHA Reverse Mortgage Principal Limit Factors are helping senior homeowners qualify for larger benefits under the HECM program.

Las Vegas, Nevada was just ranked one of the top 10 places to live by Penske Truck Rental , according to CNNMoney . The rebound of the housing market along with increase tourism has the city back on the map.  

A FHA reverse mortgage can be used to purchase a property.  It is known as a HECM For Purchase and it allows a home buyer over the age of 62 to purchase a home using a reverse mortgage .  This can provide an opportunity to qualify for the home desired and save more assets for retirement.  There are some restrictions to be aware of concerning property condition and seller allowances.   Contact me to go over what to look for with a HECM For Purchase.

Starting August 4, 2014, reverse mortgages must list both spouses on the loan, so the surviving spouse won't have to worry about facing foreclosure.  This change stems from a recent court ruling requiring HUD to make guideline changes.  The loan qualification will still be based on the age of the younger spouse.  

In a recent segment of CBS MoneyWatch , reverse mortgages are said to "be ready for their own reversal of fortune."  The segment goes on to say that "the reverse mortgage is going to be a lifeline for millions of retirees in the years to come."  Recently, the Government made changes to help strengthen the program and there is a new marketing campaign, known as Extreme Summit, that will begin airing in July a series of TV commercials and Internet ads. Learn more about reverse mortgages from a top producer and industry leader: Rick Rodriguez Reverse Mortgage Specialist, NMLS 473353 (877)576.3783 toll free rrodriguez@proficiomortgage.com www.reversemortgageproficio.com

We are continuing to grow at Proficio Mortgage with opportunities in various departments including sales and processing.  We have been ranked as high as #6 on the monthly top 10 lenders report by Reverse Mortgage Insight.  Our staff is comprised of seasoned reverse mortgage veterans with years of experience in the reverse mortgage industry.  The reverse mortgage division operates out of Henderson, NV. and we are licensed in 48 states to originate HECM reverse mortgages.  Contact the main production center to learn more about who we are and how we do it.  Our phone is 702-583-3045 and you can also reach Rick Rodriguez by email at rrodriguez@proficiomortgage.com . 

If you are looking for information on reverse mortgages and would like to speak to an experienced professional, you need to contact Rick Rodriguez.  Rick has been specializing in reverse mortgages since 2004, and has been recognized as one of the industry leaders.  In speaking with Rick for just a few minutes, you will learn why he is one of the most trusted advisors in the industry.  His vast knowledge about reverse mortgages and its role in retirement planning will provide you with all the necessary information you need to understand the product and guide you in determining whether it is the right financial option for you.  Rick is licensed and works in 48 states, and he is located in Henderson, NV (which is right outside Las Vegas) where he is considered the local expert. As of May 2014, Rick Rodriguez is currently an employee of Proficio Mortgage, a subsidiary of Proficio Bank, where he practices and holds his licenses.  His financial services license and employment can be verif

Recent findings from Healthview Services state that a healthy couple retiring in 10 years will need their entire Social Security benefit just to cover their health care expenses.  A recent article in MarketWatch gives additional details and stats regarding future health care costs and ways to minimize the burden of such costs.  Read the entire article at: http://www.marketwatch.com/story/fac9cbcc-ec07-445c-86d1-0336f081bcdc/stitch?storyguid=f9d9eaae-cf0b-11e3-aba1-00212803fad6&siteid=nwhpf . Rick Rodriguez Reverse Mortgage Specialist

A recent article in MarketWatch states that 63% of retirees are concerned that they will run out of money during retirement.  The majority of those retirees surveyed say that they are simply pulling money out of their accounts as a need arises.  Read the entire article at:  http://www.marketwatch.com/story/1e65f3eb-41cb-47cd-8e39-ec05073dec88/stitch?storyguid=ba6143a6-d3eb-11e3-a037-00212803fad6&siteid=nwhpf

MarketWatch provides insight on retiring in the state of Delaware.  It has been tagged as a hidden gem of the Northeastern coast with its beaches, proximity to major cities and a cost of living that's more affordable than most states in the region.  Read the entire article here . Posted by: Rick Rodriguez Production Manager, National HECM Division NMLS# 473353 www.reversemortgageproficiobank.com rrodriguez@proficiomortgage.com (877) 576-3783

The federal government is making additional changes to reverse mortgages to help protect borrowers from their own mistakes.  A recent article from MarketWatch identifies some of those changes that will help strengthen the program further.  Click here to read the entire article. Posted by: Rick Rodriguez Production Manager,  National HECM Division NMLS# 473353 www.reversemortgageproficiobank.com rrodriguez@proficiomortgage.com (877) 576-3783

MarketWatch , powered by the Wall Street Journal, publishes a series of articles titled, "Retire Here, Not There..".  This post showcases the state of Arkansas and the benefits of:  scenic vistas, a mild climate and a low cost of living.  Read the entire article by clicking here . Posted by: Rick Rodriguez Production Manager Proficio Mortgage, a subsidiary of Proficio Bank www.reversemortgageproficiobank.com rrodriguez@proficiomortgage.com (877) 576-3783

In the last year, Las Vegas, NV. has seen a 110% increase in reverse mortgage closings.  Las Vegas had not been a top city for reverse mortgage activity in quite some time.  Las Vegas is back as a player in the reverse mortgage industry primarily due to the sharp increase in real estate values over the last year.  We hope that Las Vegas will continue to show strength in our industry, and we look forward to serving our local community as one of the leaders in the reverse mortgage industry located in Las Vegas. Contact us anytime to learn more about reverse mortgages and all the latest options. Rick Rodriguez Production Manager, NMLS#473353 Proficio Mortgage 2225 Village Walk Dr Henderson, NV. 89052 1-877-576-3783 702-583-3045 rrodriguez@proficiomortgage.com www.reversemortgageproficiobank.com

We are happy to announce that we have a new Fixed Rate Reverse Mortgage product that will be available shortly.  It is called the Fixed Freedom, and it will provide the most flexible payment plans of any other fixed rate reverse mortgage option. I work for one of the top reverse mortgage lenders in the nation and we are licensed in 48 states.  Please call or email me anytime with questions about reverse mortgages and to learn about the latest products available. Rick Rodriguez Reverse Mortgage Professional, NMLS# 473353 (877) 576-3783 rrodriguez@proficiomortgage.com www.reversemortgageproficiobank.com

One of the worst hit areas from the real estate bust, Las Vegas, is showing signs of recovery.  For several years now, home sales in Las Vegas were dictated by the banks through either a short sale or foreclosure process.  According to the Greater Las Vegas Association of Realtors, about 70 percent of used-homes sales now are traditional transactions between private sellers and buyers.  There are still investors in the mix buying and selling properties, but it's becoming more of a balanced market.  Although Las Vegas is not completely healed yet, these latest statistics provide much needed stability for the local Las Vegas market as well as the national real estate market. Read more at:  http://rismedia.com/2014-01-22/sign-of-recovery-traditional-home-sales-now-dominate-foreclosures-and-short-sales/?utm_source=newsletter&utm_medium=email&utm_campaign=eNews Rick Rodriguez Production Manager, Reverse Mortgage Division rrodriguez@proficiomortgage.com www.reversemortgage