Maggie's Reverse Mortgage Blog

A Reverse Mortgage Saves A Client's Home!

It's wonderful to know that my client, who was certain to lose her home, will now be able to live there for the rest of her life. After a great deal of time and effort, her lender, Home Eq generously dropped her principal loan balance to a level where we could put a reverse mortgage in place. My client went from unbearable worry to a future with no mortgage payments and confidence she will have a place to call home for the rest of her life. I had a chance to talk to my client the day she signed her loan documents and she agreed to record her feelings on the whole issue.

Reverse Mortgage Saves Client's Home

I think you will hear the relief in her voice..... I'm hopeful we can save more seniors from foreclosure with the help of reverse mortgages and lenders who really do want to make it work. For more information on reverse mortgages go to ReverseMortgageStore.com or to learn more about me, visit MaggieOConnell.com!

 

Comment balloon 0 commentsMaggie O'Connell • November 24 2009 03:02PM
A Reverse Mortgage Saves A Client's Home!
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It's wonderful to know that my client, who was certain to lose her home, will now be able to live there for the rest of her life. After a great deal of time and effort, her lender, Home Eq generously dropped her principal loan balance to a level… more
State of the California Jumbo Reverse Mortgage Market in Mid-2009
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Methods for turning home equity into income has been limited for owners of high value homes. Almost all jumbo reverse mortgages were suspended when the credit crisis hit in 2008. The HECM Reverse Mortgage has filled a void with the increased… more
NestWorth Announces NEW IMPROVED program!
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NestWorth announces new improved program! The Equity Access Agreement is now available. It is an alternative to a Jumbo Reverse Mortgage but not a mortgage or debt. Older homeowners of high value homes can receive generous interest free… more
Audio Clip - Maggie and Rob Black on the Radio!
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Radio Interview with Rob Black & Maggie O'Connell discussing Reverse Mortgages and The NestWorth Agreement for California and Nevada (mp3 format). more
Realtors!! Pay attention to the HECM Reverse Mortgage for Home…
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Realtors would be wise to pay attention to the HECM Reverse Mortgage for Home Purchase. The HECM for Purchase provides the opportunity to purchase a new principal residence with HECM loan proceeds in a single transaction. The… more
HECM Lending Limits or maximum claim amount to go to $625, 500!
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As at the time of writing, the President has signed the Economic Stimulus package, part of which includes the provision for the HECM limit to increase to $625, 500 for the balance of 2009. THis is great news for homeowners in higher value homes as… more
The Best Time to Get a Reverse Mortgage is When Interest Rates Are…
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Age is one factor in determining the amount available from a reverse mortgage. The best age to get a reverse mortgage depends on various factors. Is there an existing mortgage with payments that create a financial strain on the budget? … more
How the Housing Recovery Act, HR 3221 helps senior homeowners through…
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The housing and credit crisis of 2008 doesn’t limit its impact to speculators and risk takers. Senior homeowners have also been impacted. Home equity represents a large portion of net worth for the older set. Often, people sell their family home and… more