Pennsylvania’s top Reverse Mortgage Lenders

Pennsylvania’s top reverse mortgage lenders thru April 2007 according to American Community Survey. The following table shows Pennsylvania’s top 10 originators of HUD HECM (Reverse Mortgage) loans.

Written by charles dennis on August 30th, 2007 with no comments.
Read more articles on education.

Senior’s Money International goes to Canada

The growing demographic category of elderly homeowners has drawn a New Zealand-based reverse mortgage company to Canada to compete with Canadian Home Income Plan, which has a monopoly in the market.

Canadian Home Income Plan is a subsidiary of publicly traded Home Equity Income Trust, which also operates CHIP Mortgage Trust.

Privately held Senior’s Money International operated in Australia, New Zealand, Ireland, Spain, Headquartered in Mississauga, Seniors Money Canada will initially offer its reverse mortgage product in Southwestern Ontario, with lower interest rates than its rival. (more…)

Written by charles dennis on August 30th, 2007 with no comments.
Read more articles on Banks & Lenders and News.

Pat Summerall to pitch Reverse Mortgages

August 29, 2007 — In an attempt to expand their already growing image as the pros in the Reverse Mortgage industry, Fidelis Mortgage signed an agreement with Radio Advantage in Dallas, representing broadcasting legend Pat Summerall.  Mr. Summerall recorded a new 60 second radio spot which is currently airing in the Baltimore, Maryland area.  “The partnership with Mr. Summerall will ensure that we gain a much larger share of the Reverse Mortgage market than we already have in Maryland” says Eric Rittmeyer, President of Fidelis Mortgage.

With Reverse Mortgages continuing to break records year over year, it is important that homeowners 62 and over understand how they work.  With rising healthcare and energy costs, many senior homeowners are finding it more and more difficult to stay in the home they love.  In response to the apparent financial problem’s seniors are facing, the U.S. government created a solution to help seniors enjoy their retirement years.  The solution is the Reverse Mortgage.  Insured by the Federal Government, the Home Equity Conversion Mortgage (HECM), enables homeowners 62 and over to convert part of their homes’ equity into tax free income without having to sell their home, give up the title, or take on monthly mortgage payments. (more…)

Written by charles dennis on August 30th, 2007 with no comments.
Read more articles on Press Release and News.