2022-12-17 08:09
What is the mortgage application process?
If you’re in the market for a new home or a refinance, one of the first things you’ll need to do is apply for a mortgage. The mortgage a… Read More
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There is news everywhere of recession indicators like the inverted yield curve, historically low unemployment, historically high oil prices, rampant inflation, and more. At the same time there is an uptick in reverse mortgage loan activity in not only my business but in the entire United States. Why is this happening?
To qualify for the FHA’s Home Equity Conversion Mortgage (HECM), aka Reverse Mortgage Loan, you need at least one borrowing spouse to be 62 years of age or older at the time of closing. There are other private or proprietary reverse mortgages that are offered by the largest reverse mortgage lenders, and some of them allow for the youngest borrower to be at least 55 years old.
2022-12-17 08:06
Hybrid Reverse Mortgage!
There’s actually a hybrid reverse mortgage. It allows for younger people to do it, not me. You gotta be in your 50’s, and you’re able to continue… Read More
2022-12-17 08:00
Death & the Reverse Mortgage
Everyone, mortgage nerd here. So I had two clients pass away on me very recently. Just found out about one. The other passed away Monday. You know, one was… Read More
2022-12-17 07:56
Seniors Sacrifice Health to Pay Mortgage!
Hey everyone! Mortgage Nerd here. I saw a statistic recently. Seniors’ healthcare expenses, meaning that they pay more for healthcare, goes… Read More
2022-12-17 07:54
Seniors Deserve a Break!
So the United States government has been making the reverse mortgage harder to get, stricter for people who are 62 and over to be able to qualify. This is something… Read More
2022-12-17 07:51
Little Known Mortgage Fact!
Hey everyone, Mortgage Nerd here! Just had a client call me who’s selling his house. He did a reverse mortgage with me many years ago, almost 10 years ago… Read More
2022-11-22 09:12
Reverse Mortgage: You Won’t Lose Your Home!
People ask me that all the time: “Well, I thought, with the reverse mortgage, that they lose the house in the end”. No! Why wou… Read More
2022-11-21 06:20
Not Your Parent’s Reverse Mortgage!
Hey everyone, Mortgage Nerd here! So there’s a new, or fairly new, reverse mortgage product. It’s kind of like a hybrid. It’s no… Read More
2022-11-21 06:07
A Mortgage For Widows?
Hey everyone, Mortgage Nerd here! So what do I mean by reverse mortgage for widows? When you have someone who’s a widow or a widower, they’ve lost one of… Read More
2022-11-21 06:01
Jumbo or Proprietary Reverse Mortgage!
Hey everyone, Mortgage Nerd here! Another discussion on reverse mortgages: What is a jumbo reverse mortgage? Well, for 2022, the loan limit or the va… Read More
2022-11-21 05:43
Non-Borrowing Spouses & Reverse Mortgages
Hey everyone, Mortgage Nerd here! So, the reverse mortgage has something called a “Non-borrowing spouse rule”. So what’s a no… Read More
2022-11-17 07:39
A reverse mortgage loan is a mortgage that’s for older people. Usually, it’s been for ages 62 and over but, more recently, there are certain private reverse mortgages that allow… Read More
2022-11-15 01:51
A reverse mortgage is a mortgage loan for people who are 62 and over (and in some cases 55 and over). They are able to use their home as part of their retirement plan, and they are able to p… Read More
2022-11-13 13:21
The reverse mortgage loan demand is sky-high right now. I’m getting a lot of people looking on the internet, a lot of people calling in, and past clients looking to pull out more money… Read More
2022-11-02 11:46
Bill entered the Reverse Mortgage industry after a 7 year career as a Real Estate Broker and quickly ascended to a Management position with one of the largest Reverse Mortgage lenders in the… Read More
2022-10-27 11:28
All mortgages—traditional or reverse—are based on numbers. Applying for and receiving a mortgage when rates are favorable is one of the most crucial parts of getting any form of… Read More
2022-06-13 12:38
Just try to pronounce HECM (heck-um), and you might have someone say “bless you”
or get offended thinking you are saying a curse word. The HECM, or Home Equity
Conversion Mortgag… Read More
2022-04-21 11:17
There is news everywhere of recession indicators like the inverted yield curve, historically low unemployment, historically high oil prices, rampant inflation, and more. At the same ti… Read More
2022-04-21 11:16
In the early part of my career, there was only FHA’s Reverse Mortgage Loan (or HECM) and 1 Private Jumbo Loan offered by a lender that is no longer in the business. Now there are… Read More
2020-04-27 11:48
https://psmortgagelending.com/wp-content/uploads/2020/04/V-5.mp4
IRRRLs are great opportunities for Veterans to save on mortgages – that’s why predatory lenders are trying to ta… Read More
2019-12-13 17:21
This is the largest and most popular program with the Non-Qualified Mortgage or Non-QM arena. It is primarily, but not limited to, self employed borrowers who make more money than is shown o… Read More
2019-12-05 16:51
If you’re 62 or older, here are some things you need to know about reverse mortgages
A reverse mortgage is one of the most misunderstood assets available to people 62 and older. Often… Read More
2019-11-22 11:57
The CFPB (Consumer Financial Protection Bureau) has been reviewing and verifying several rules that they have implemented in the past, and the one that remains to be reviewed is the TILA-RES… Read More
2019-11-08 11:10
No, we are not butchers selling you steak, haha. The USDA Mortgage is for rural areas, and offers the Guaranteed Rural Housing (GRH) Loan Program is designed to assist households in obtainin… Read More
2019-10-29 11:40
Reverse mortgages help seniors with the costs of retirement by turning equity into cash, making the twilight years truly golden
Odds are – if you’re over the age of 62 a… Read More
2019-10-23 10:12
It’s easy to miss out on things when you don’t understand them, so PS Mortgage Lending explains a few simple Veteran Affair Loan facts
America is proud of its warriors – f… Read More
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