FHA UNDERWRITING AVAILABLE
Ocala, FL, April 7, 2008 - American Reverse Mortgage®, announced today that it is launching a new division, USA Underwriters. This new division will use Direct Endorsement (DE) Underwriters to underwrite a variety of FHA loans including all forward and reverse products. The current staff of DE Underwriters has over 200 years of underwriting experience and will provide any FHA-approved (more…)
Written by charles dennis on April 10th, 2008 with no comments.
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Written by EditorsChoice
Saturday, 29 September 2007
Reverse mortgages have really started to become popular among senior homeowners today. They are helping to supplement the incomes of retirees all over and the trend is only going to continue to grow in the coming years.
To help protect people in applying for a reverse mortgage, the government requires every applicant to take a credit counseling class before any loan can be processed. One of the best ways to get this required counseling is through AARP. Here’s a look at what you can expect with AARP reverse mortgage counseling.
With nearly 80% of all seniors being a member of AARP, there is little wonder why AARP reverse mortgage counseling is by far and away the most popular. (more…)
Written by charles dennis on October 1st, 2007 with no comments.
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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.
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There seems to one business not very fazed by the recent onslaught of mortgage whoas…..
American Reverse Mortgage® is the only reverse mortgage lender included in the Hot 500 list and is the fastest growing exclusive reverse mortgage lender in the United States. The company is America’s number 120 fastest-growing business according to the August, 2007 issue of Entrepreneur Magazine.
August 19, 2007 — Safe, U.S. Government Reverse Mortgage, began on October 19, 1989 when the first one was granted to a Kansas woman. Since that date, 329,290 FHA Home Equity Conversion Mortgages (HECM) have been provided to Americans age 62 and over. Major organizations have offered positive, informative, advice that assures seniors are protected with the complete and accurate facts about reverse mortgage. These organizations include the AARP, American Bar Association, Better Business Bureau, Federal Housing Administration, Federal National Mortgage Association (FannieMae), National Counsel on Aging, National Reverse Mortgage Lenders Association. Specific reverse mortgage literature is available from these organizations on request.
American Reverse Mortgage was founded in 2000 to become America’s reverse mortgage lender and is well on its way to achieve that goal. Operating nationally from a home office in Ocala, Florida, ARM has grown to be America’s sixth largest reverse mortgage lender, according to a HUD report dated August 1, 2007. ARM has grown from three employees in 2000 to over 3,000 in 2007. About 50 reverse mortgage advisors are also certified senior advisors.
Since the reverse mortgage requires a minimum age of 62, ARM felt that its reverse mortgage advisors would be more effective if they were seniors themselves. The average age of ARM advisors is 57 with the age range being from 20 to 92 years old. Also since the FHA reverse mortgage is the most highly regulated FHA mortgage, comprehensive training is required to become a reverse mortgage advisor. ARM has created the most extensive training in the reverse mortgage industry.
American Reverse Mortgage provides all three types of reverse mortgage. The best and most popular is the FHA Home Equity Conversion Mortgage (HECM) of which over 329,290 have been written since 1989. In 1996, FannieMae created the Home Keeper Reverse Mortgage. Proprietary Jumbo Reverse Mortgage is also available for higher value homes.
Written by charles dennis on August 20th, 2007 with no comments.
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Homeowners in their golden years will soon have relief from rising expenses, and it’s coming from a familiar source: their homes. Statewide Bancorp is now offering Reverse Mortgage’s with loans up to 6 million dollars. Rancho Cucamonga, CA (PRWEB) August 29, 2007 — Homeowners in their golden years will soon have relief from rising expenses, and it’s coming from a familiar source: their homes.
Statewide Bancorp announced this week it will offer reverse mortgages, which allow homeowners age 62 and up to convert part of their home equity into tax-free income. Payouts can come as a lump sum, a monthly income, a line of credit, or a combination of all three.
“Rising energy costs, rising healthcare costs, and taxes are making it difficult for Seniors to enjoy their golden years,” says Statewide Bancorp’s COO Alex Diaz, Jr. “Reverse mortgages provide a much-needed financial flexibility.”
The homeowner will never have to make a payment as long as they occupy the home, which is why many borrowers are using reverse mortgages, even for purchasing a home. Statewide now offers these mortgages with loans up to 6 million dollars.
The new product can also help eligible homeowners generate cash for home improvements, travel and other out-of-pocket expenses. (more…)
Written by charles dennis on August 16th, 2007 with no comments.
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