senior homeowners News

The 2009 Economic Stimulus Plan offers a higher reverse mortgage loan limits for senior homeowners. The loan limits for FHA-insured reverse mortgages have been increased to $625,500 across the entire country - not just the higher cost areas.

Senior citizens, age 62 and older, now have additional cash flow alternatives when it comes to getting cash from their homes. Until recently, traditional home loans only offered the option of selling one’s house or borrowing against its equity.

Advanced Funding Solutions of Babylon, NY announced today that the Dept of Housing and Urban Development (HUD) approved a single national loan limit of $417,000 for the federally insured reverse mortgages. Seniors can now obtain increased benefits.

Harbor Mortgage Solutions relationship with Liberty Reverse Mortgage will expand Harbor’s services to senior homeowners, adding a more diversified portfolio of products from which to choose.

This seminar will provide objective information about the unique government backed programs that allow seniors (age 62+) to access the equity in their homes.

Moderated by George Downey, a former Chairman of the Massachusetts Mortgage Association, this seminar will provide objective information about the unique government backed programs that allow seniors (age 62+) to access the equity in their homes.

George Downey, Founder of Harbor Mortgage Solutions in Braintree, MA and a past Board Chairman of the Massachusetts Mortgage Association, outlines criteria of a reverse mortgage that might help a senior homeowner avoid foreclosure.

The reverse mortgage market is one of the sectors that offers expanded career opportunities for dedicated professionals interested in helping seniors age in place by tapping into the equity in their homes.

HECM 100, a FHA/HUD insured Home Equity Conversion Mortgage (HECM), has an interest rate one-half percent lower than the current HECM rate, with greater cash benefits up front along with lower interest costs over the life of the loan.

The reverse mortgage market is one of the sectors that offers expanded career opportunities for dedicated professionals interested in helping seniors age in place by tapping into the equity in their homes.

The reverse mortgage market, catering to seniors over the age of 62, is one of the sectors that offers expanded career opportunities for professionals interested in helping seniors age in place by tapping into the equity in their homes.

Harbor Mortgage Solutions explains how growing numbers of legislators and government officials are focusing on reverse mortgages as a source of funding to address the long term needs of the burgeoning senior segment of the US population.