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Uncategorized Articles

Posted on February 15  
On July 1, 2009 Money Management International a subsidiary company of Consumer Credit Counseling Service agencies, the largest nonprofit full service credit counseling agency announced that it would offer mature borrowers, over the age of 62 free reverse mortgage counseling. What does that mean to you? Well as an interest borrower who is over the age of 62 you are now able to receive the mandatory counseling session for reverse mortgage also known as Home Equity Conversion Mortgage (HECM) free.... Read More...
Posted on February 14  
In a recent meeting of groups related to the reverse mortgage industry, it was decided that seniors applying for future reverse mortgages would have them reduced by 10%. The agencies involved were the National Reverse Mortgage Lenders Association (NRMLA), the AARP, and the FHA. Reverse Mortgage Reduction Due to Needed Subsidization The meeting was a response to two bills proposed in Congress – a House and a Senate version of the same bill. Both sides of Congress have presented their own ve.... Read More...
Posted on February 14  
When you are ready to either talk to an agent about getting a reverse mortgage, or are actually ready to get one, there is a best and safe way to go about it. A new level of certification is now in the process of being made, and you want to be sure that you use one of the certified reverse mortgage agents to arrange your new reverse mortgage loan for you. There are a number of scams out there that are centered on reverse mortgages. Many people are being ripped off by unscrupulous people who are .... Read More...
Posted on February 14  
Choosing your payment option may seem to be an easy task, especially when you are aware of your particular needs and wants at the time your funds are released. But did you know you can chose a line of credit and make your money grow? Yes it is true. The equity line of credit grows at a rate of 0.5% plus current monthly interest rate being charged on the loan. Do not be confused and think the interest is earned but rather it is accrued monthly and only used on unused money from your reverse mortg.... Read More...
Posted on February 14   By Andy Roberts
The reverse mortgage program was established to give mature Americans who are over the age of 62, the ability to use some or a majority of the equity in their homes all while receiving cash payments for the duration of the loan or until the borrower moves from their home. The initial program did not have the steady stream of borrowers as it does now and the Federal Housing Administration (FHA) coupled with the U.S. Department of Housing and Urban Development (HUD) moved quickly to update mandat.... Read More...
Posted on February 14   By Brandon
For the past four years, aspiring small business owners in developing nations have been able to pursue their dreams thanks to Kiva.org, a unique microlending company that's become an online sensation. Kiva has funneled more than $75 million in loans since 2005 to 180,000 entrepreneurs in 44 developing nations. Business owners from El Salvador to Nigeria have benefited from Kiva microloans, opening clothing stores, food markets and bookstores. Now, as part of a unique pilot program, fledgling Ame.... Read More...
Posted on February 14   By MLP Blog
Many homeowners are choosing to refinance their homes during today’s unpredictable economy. Paying off credit card debt, helping pay for college, or freeing up cash for home improvement are some of the more popular reasons. Refinancing, by definition, is where an existing debt is replaced by a new debt obligation under new terms. Fortunately, borrowers have several options available, each with its own strengths and weaknesses. Rate and Term Refinancing—Under this option, borrow.... Read More...
Posted on February 13   By MLP Blog
There was a welcome addition to the "Safeguarding the American Dream" symposium held in Washington D.C. yesterday. The Mellman Group released the results of their most recent poll concerning The Expanding American Homeownership Act. The poll was commissioned by Wells Fargo and surveyed the opinions of 1000 adults across the nation, the results of which are heavily in favor of the Act. Not surprisingly, most Americans (52%) don’t know anything about this act. However, after hearing a bri.... Read More...
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