The Best Reverse Mortgages

Forbes published a recent article stating that the tougher qualifying requirements of a FHA reverse mortgage will help to strengthen the program for the long term.  The Financial Assessment will keep some applicants from qualifying, however this should minimize loan defaults and recent concerns about the reverse mortgage.  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

Housingwire published a recent survey from Gallup that shows that currently 69% of the population feels it's a good time to buy which is down from 74% just two years ago.  Overall, Americans feel more positive about buying a home since the housing bubble debacle.  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

As we approach the Financial Assessment Guideline implementation for reverse mortgages on April 27th, 2015, the reverse mortgage industry is preparing itself for what lies ahead for the program.  Although there are differences in opinion of how the change will effect industry volume, there is agreement in that the program will be strengthened to better protect consumers, lenders and FHA.  The highlight of the new guideline will be to ensure that homeowners have enough residual income to pay for property taxes and homeowner's insurance expenses.  If they do not, then a Life Expectancy set-aside (similar to an escrow account) will be set up to pay for future taxes and insurance. 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

Fox News released a recent video with Las Vegas legal analyst Bob Massi.  Bob gives general information on reverse mortgages and discusses the upcoming Financial Assessment guideline changes on April 27th.  View the entire video 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

The state of Utah will be making changes that will impact counseling and loan applications on reverse mortgages .  Beginning on May 12th, the state will require that a prospective borrower shall first meet with an independent agency to complete the reverse mortgage counseling session before they can apply for a reverse mortgage.  Secondly, after completing counseling they must wait seven days ("cooling off period") before that application can be done with their lender.  Read more about the Act 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

As we age, we can become less comfortable with driving.  The proceeds from a reverse mortgage can be used to set up transportation arrangements to help us stay active and safe. 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