How Reverse Mortgages Work   More often than not, seniors don't have the sufficient financial resources to support themselves in lieu of medical expenses, Social Security contributions, home repairs and maintenance.  What they often have is an expensive home that doesn't really provide them the necessary benefits to sustain their way of living . The option to loan money using the home's equity is there, but the imposition of the monthly interest for borrowing money can only exacerbate their financial difficulties. Good thing there's another option called reverse mortgages. So what is a reverse mortgage? Perhaps it's better explained as a process that gives you the luxury to convert your equity into cash, but this time, without the hassle of paying for monthly installments. This is a promising program for many seniors in dire need of steady cash inflow. To prove that point, you only need to look at the statistics showing the staggering increase of reverse mortgages f...

Reverse mortgages are starting to get popular in the United States because of the reason that it could get money to people's pocket without needing to worry about upfront repayment. This is basically a type of loan that you can take based on the equity of your home.  The fact that one can get this loan without any credit checks or strict income requirements make this type of mortgage very popular among people who need money at the soonest possible time. The success stories in reverse loans, though, don't apply to every people. Some consider getting this type of loan as a very expensive option. But it's true; the entire process could become confusing and overwhelming.  The best way to combat this is to get yourself well informed before obtaining a loan. You should know the pros and cons of getting a reverse home loan. Overall though, if you need a hefty sum of money and you have a high value home, reverse mortgage is for you. And here are reasons why getting a reverse loan ...

There are lots of options when it comes to getting money or obtaining loans if you really need to make ends meet. Many options are available but most for most of them, there are strict requirements to meet to get a grant .  These usually depend on your credit score and your capacity to pay. But one type of mortgage is different and most people older people prefer this type. It is reverse mortgages. It works in a reverse way that most typical loans do. You are not the one making payments, but instead you are receiving payments.  However, not all people can enjoy the advantages of reverse home mortgage. Just the entire process of obtaining the mortgage can be quite confusing and can cost you more money if you don't understand its basics. And probably, among the most important things that you should know about are the interest rates involved in getting a reverse loan. So what's the best offer in terms of interest rates? The interest rates in a granted reverse loan actually depen...

Reverse mortgages have helped thousands of senior citizens to have financial freedom, giving them a lot of opportunities to live a more contented life in their old age.   The benefits this program provides sounds too good to be true, but if you're ever interested to apply for a reverse mortgage, it’s always a wise move to learn both its advantages and disadvantages. PROS OF REVERSE MORTGAGE Improves Quality of Life,  The money that you get out of reverse mortgages can be spent on just about anything that you choose . As a senior, you have the freedom to spend on luxuries as much as you do on necessities.  This contributes to happy living. And I believe that each and every one of us has the right to live life to the fullest even in our old age. Reverse mortgages help make it possible. You Get Tax-Free Money The funds you receive, whether a fixed income or lump sum, are completely tax-free since the money you receive is not an income, but a loan. Do keep in mind to ...

Reverse Mortgage Fees Reverse mortgage fees are something of which many people are intimidated. This should not be the case! Though there are fees associated with reverse mortgages, they can be easily understood by arming yourself with the proper education. Reverse Mortgage Origination Fee A reverse mortgage origination fee is similar to the origination fee of traditional loans. It is a fee that is charged by the lender for the work that is done on your loan. However, with H.E.C.M reverse mortgages, this fee is capped and regulated by the government. The reverse mortgage origination fee can be up to $6,000 depending on the loan amount. The maximum origination fee that can be charged is 2% of the first $200,000 of the maximum claim amount and 1% of anything after that, up to $6,000. For maximum claim amounts lower then $125,000, the maximum origination fee is $2,500. This fee can be negotiated or waived depending on your specific situation. ...

The  Federal Housing Administration (FHA)  pre-approves lenders that in turn offer mortgage loans that typically have low down payments, low closeout prices, and are insured by the FHA in case of default. If you are  considering FHA-insured loans for buying your next home , there are some  basic guidelines  you should consider before jumping right in: #1. First off, the FHA is NOT a lender itself–it simply insures loans that are given through lenders it approves to provide FHA-type loans; mortgage rates and interest may differ between lenders, so  shop around  for the best option #2. While these loans are ideal for people with bad credit, people with credit scores lower than 500 are typically not eligible; however, special arrangements can be made for people with “ non-traditional credit history or insufficient credit ” and each state has its own  lending limits #3. FHA insurance can provide people who are facing extreme financial hardship and str...

NREP 8 Year Anniversary Today As you know we decided to take a little break for the 4th of July holiday.  I (Frank) did however want to make mention that today marks the 8 year anniversary of our show.  I started this whole mess with one little video done for my loan officers on July 2, 2007.  2007 was a tough year and all my guys were struggling to make it.  I stumbled on video and made one to try and motivate them to do the things that are proven to work no matter what the market says.  After I sent it out, I knew I was on to something and I continued to do it every day since then.  You can see that first video below.   It may be the dumbest thing you’ve ever watched.   I won’t get into the details of our journey, but I will remind you that you can click on   “Our History”   above to get a snap shot of how this all came together.  But I would like to say a couple things.  Our journey hasn’t been all ...

"Unique Marketing Test Reveals Likely Election Winner." The Secret? One Name Captures the Emotions of Voters.How do you reach inside the mind of voters to determine who they will vote for, even before they may even know themselves?That is the particularly intriguing question faced by hundreds, even thousands of pollsters, not to mention politicians. As the public is exposed to the daily, hourly barrage of skittishly jumping results of the polls, there seems to be no way to measure what will happen, except to say it is "virtually a dead heat."Hakim Chishti, Executive Director of the research firm Advanced Marketing Institute (AMI) believes his form picked the likely winner. And it will not be anywhere near a "too close to call election." In fact, according to Chishti, "one of the candid...

Be sure to catch all of your real estate news and mortgage news here on the National Real Estate Post with Frank Garay and Brian Stevens. And don’t forget about the only products that they endorse, Listing Booster and MoveTube. These products are simply the best products available for loan officer and real estate agents to use to generate new business today. Remember our motto: “Your Listing – Your Lead” and this is to the benefit of the real estate agent AND the loan officer. If you want to learn more about how Frank and Brian can help you with their innovative products, call our team at   855-743-7431   or   CLICK HERE . We are very excited about our new product, Move Tube. Move Tube is the ONLY interactive property search channel on TV in the world and it’s available for you to take advantage of. Currently MoveTube is on Roku 3 devices, however it will be available on all other Roku devices shortly. Programming has begun to launch MoveTube on Amazon, and Yahoo w...

NREP 8 Year Anniversary Today As you know we decided to take a little break for the 4th of July holiday.  I (Frank) did however want to make mention that today marks the 8 year anniversary of our show.  I started this whole mess with one little video done for my loan officers on July 2, 2007.  2007 was a tough year and all my guys were struggling to make it.  I stumbled on video and made one to try and motivate them to do the things that are proven to work no matter what the market says.  After I sent it out, I knew I was on to something and I continued to do it every day since then.  You can see that first video below.   It may be the dumbest thing you’ve ever watched.   I won’t get into the details of our journey, but I will remind you that you can click on   “Our History”   above to get a snap shot of how this all came together.  But I would like to say a couple things.  Our journey hasn’t been all fun and...

Because VA Loans are backed by the federal government, lenders have the luxury of charging competitively low interest rates.  Service members who are eligible  find that rates are generally lower with a VA home loan than a conventional mortgage. To speak with a VA Mortgage Specialist about interest rates, call  1-800-884-5560  today. What Determines My Rate? Your interest rate is influenced by a variety of factors, including: Your credit score Debt-to-income ratio Loan duration (15- or 30-year) Current market conditions Because of the risk involved in issuing a loan, a good credit score almost always means a lower rate. However, even if your credit report isn't in perfect shape, you may still have an easier time qualifying for a low rate due to the  VA Guaranty . How Do I Lock In My Rate? Once you've identified the house you wish to purchase and have entered a contract for that property, we'll help you figure out what the rate will look like. ...

Democratic Senators Call For Investigation of Possible Discrimination in REO Maintenance If you want to learn more about how Frank and Brian can help you with their innovative products, call our team at  855-743-7431  or  CLICK HERE . We are very excited about our new product, Move Tube. Move Tube is the ONLY interactive property search channel on TV in the world and it’s available for you to take advantage of. Currently MoveTube is on Roku 3 devices, however it will be available on all other Roku devices shortly. Programming has begun to launch MoveTube on Amazon, and Yahoo which will make the channel available on virtually all smart TV’s which projections are staggering.  Click here to see the future of smart TV and streaming devices. easy to look back at something and say “I wish I would have seen the potential in that” after it’s already happened. MoveTube is here, it’s the first of it’s kind, and it’s positioned for massive growth quickly, so getting ...