http://wisconsinreversemortgages.net Everything Wisconsin Seniors need to know about Wisconsin Reverse Mortgages Sun, 11 May 2008 22:50:40 +0000 http://backend.userland.com/rss092 en Reverse Mortgage Safeguards Reverse mortgages are becoming quite popular among seniors in the United States. Gone are the wild west like days of originating reverse mortgages. As they started to become more popular the federal government stepped in to regulate them and protect seniors from abuse. These safeguards are regulated by ... http://wisconsinreversemortgages.net/26/reverse-mortgage-safeguards/ Here are some of the reasons a senior may need a reverse mortgage. It is not a complete list but you can review and see if you fall under this category. If you do then you may want to give me a call and see if it a wise decision. ... http://wisconsinreversemortgages.net/25/reverse-mortgage-pitfalls/ Here is a great company I recommend checking out. They are one of the top out there and have very strong ethics. clipped from www.1streverse.com The Fixed4LifeTM Reverse Mortgage is a FIXED RATE FHA INSURED Reverse Mortgage Loan that allows borrowers to rest easy knowing that the INTEREST RATE WILL NEVER ... http://wisconsinreversemortgages.net/23/wisconsin-reverse-mortgage-lender/ clipped from rismedia.com When asked the question, “What prompted you to obtain a reverse mortgage loan?” the responses were – Budget too tight - 19% – Need more liquid assets on hand - 16% – Home repairs and maintenance - 15% – Provide care for dependents, pay medical bills - 8% – Pay property taxes and ... http://wisconsinreversemortgages.net/22/a/ You and your spouse are 62 years of age or older The house you would mortgage is your primary residence You live in that house for at least 6 months a year Your house is a single family, duplex, three unit, four unit, condominium, or manufactured house You have a lot of equity in ... http://wisconsinreversemortgages.net/20/wisconsin-reverse-mortgage-checklist/ Maximum lending limit varies per county, Milwaukee is 219,545 Homes that qualify are single family detached, condominium, manufactured home, planned unit development, one to four rental unit if it is owner occupied Government insured so it can never be more than the value of the house 2 percent up front mortgage insurance premium ... http://wisconsinreversemortgages.net/19/home-equity-conversion-mortgage-highlights/ During the refinance boom of the last couple of years many seniors refinanced their mortgages to low adjustable rate mortgages or took cash out on fixed rate loans. Many lenders are now finding that some seniors that have refinanced in recent years cannot afford the monthly payments. Some are due ... http://wisconsinreversemortgages.net/17/wisconsin-reverse-mortgage-helps-seniors-avoid-foreclosure/ In 2008, 78 million baby boomers will turn age 62 and qualify for a reverse mortgage. These seniors have 4 trillion dollars in home equity available to them in an illiquid asset, their house. In fact, these retirees have 50% of their net worth tied up in their homes. Estimates ... http://wisconsinreversemortgages.net/16/wisconsin-reverse-mortgage-senior-fears-discussed/ What can a senior do to avoid stock market dips or inflationary price increases? I am asked pretty regularly if I can provide help for a mother or father whose savings has taken a hit and the golden years are anything but that to them. There is a strategy that ... http://wisconsinreversemortgages.net/15/wisconsin-reverse-mortgage-how-to-help-increase-retirement-income/ The three basic types of reverse mortgage are: single-purpose reverse mortgages, which are offered by some state and local government agencies and nonprofit organizations; federally-insured reverse mortgages, which are known as Home Equity Conversion Mortgages (HECMs), and are backed by the U. S. Department of Housing and Urban Development (HUD) ... http://wisconsinreversemortgages.net/13/wisconsin-reverse-mortgages-3-types-of-reverse-mortgages/