Fair and balance TV news article on Reverse Mortgages

 

Fair and balance TV news article on Reverse Mortgages.

Whatever it takes

 When my friend Al Silkroski suggested with study the book “Quiet Strength” by Tony Dungy, I have to admit I was not sure what to expect. Half way through the book, I am inspired and committed to adopting habits and commitments that have proven successful in his life. The first quote that jumps out and seems to be the core of Tony’s quite strength is

“Whatever it takes. No Excuses. No Exceptions”

This will be our game plan going forward for the Reverse Mortgage Team. http://www.reverseworkshops.com 484-994-2826

New Associate added to the Team

It has been over a year since I have been able to make the time to write a post. Finally I have added an associate to help me get organized and help more active adult homeowners use the equity in their home in order to enjoy a more comfortable retirement. Connie Cooper-Facenda has joined my team and is working as my Reverse Mortgage Consultant – Junior. I will add more later, but you can reach her at 610-732-1057.

Our reverse mortgages will have zero servicing set aside & zero origination fees!

• Reverse mortgage borrowers will realize $6,100 – $12,000 in additional available funds.
• The number one objection to reverse mortgages was fees and costs.  
• For now, those fees and costs have been reduced by more than 50%. 
• This drastic reduction in fees is a huge benefit homeowners 62 years old or older.

As an Area Sales Manager for the Nation’s #1 Retail Originator of The FHA HECM Reverse Mortgages, I have never seen anything so exciting. For almost the entire 5 years that I have been in the reverse mortgage industry, the #1 objection I have heard from folks who did not get a reverse mortgage… was that the fees were TOO HIGH! Now we can help more 62+ homeowners use the equity they have built up in their home to improve their monthly cash flow and enjoy a more comfortable retirement.

No lender origination fee ($2,500 to $6,000 Savings!)

No Service set aside requirement – $1000s more available to the Senior Homeowners!

Our phones are going crazy… so call 866-518-1020 ext 401 and leave a message. Someone on my team will get back to you within 24 hours.
Effective April 12, 2010 and until further notice…

AARP’s Retirement TV News Spot: Reverse Mortgages-Pros/Cons

Check out the link for this news report:
http://www.aarp.org/aarp/broadcast/reverse_mortage_inside_e_street/

Reverse Mortgage: Rescue or Trap?

October 16, 2009

Retirement isn’t so golden if your fixed income won’t cover the bills. A reverse mortgage may come to the rescue. But drawing equity can be complicated and risky.

Resources

• The National Reverse Mortgage Lenders Association (NRMLA) for reverse mortgage lenders and related professionals.
• The Federal Housing Administration’s “Top Ten Things to Know if You’re Interested in a Reverse Mortgage.”
• AARP’s guid for what every reverse mortgage borrower should know about these kinds of loans.

The Host

Through most of her distinguished reporting career, Sheilah Kast has focused on the economy and workplace and how they affect people’s lives. Well known to viewers of public television, ABC News, and CNN, she has covered the White House and Congress.

Kast also reported on the Washington aftermath of the Sept. 11, 2001 terror attacks. Her stories included an investigation of anthrax in the mails and the struggles of bereaved Pentagon families to secure benefits.

At The Washington Star, in her first reporting job, Kast covered financial regulation, taxes, and energy. Her expertise in these important issues eventually led her to start a national public-television show, “This Week in Business,” which she hosted in association with Business Week magazine.

Ms. Kast is a skilled interviewer. She has often hosted NPR’s Weekend Edition Sunday and has her own current-affairs interview show on public radio in Maryland.

Contact Us

Inside E Street – AARP
Techworld Station
P.O. Box 50239
Washington, D.C. 20091-9998
E-mail: estreet@aarp.org

Breaking News: HECM Loan Limit Extended through 2010

HECM Loan Limit Extended through 2010

October 30th, 2009

Yesterday, Congress passed the continuing resolution we discussed yesterday, extending the HECM loan limit through the 2010 fiscal year.  The continuing resolution is now headed for the President’s signature, which it is expected to receive.  The continuing resolution means that the reverse mortgage loan limit will remain at $625,500.  The change reduces uncertainty about the future of the loan limits for HECM reverse mortgages

Wells Fargo Still #1 Retail Orginator of Reverse Mortgages

We are still #1 and growing our local team in Eastern PA ( 18+ top reverse mortgage specials)

Top Reverse Mortgage Lenders of 2008

Wells Fargo is still the #1 Retail originator of Reverse Mortgages in the USA. Our Local Team in Eastern PA is top shelf and stands ready to help any of your friends, family, clients or associates. Call 866-518-1020 ext 101 for help.

The report below includes new endorsements per lender.

05.07.09

The mortgagee letter 2009-07 was released earlier this year setting the new nationwide lending limit for reverse mortgages (HECM) to $625,500. This was changed as a result of the American Recovery and Reinvestment Act of 2009 (ARRA) that was signed into law February 17th of this year.
The previous nationwide lending limit was of $417,000.
With the new limit, someone 75 years old in a home worth more than $625,000 could gain access to somewhere around $420,000, whereas the previous limit gave them access to roughly $280,000- a 50% increase. All circumstances are different and you can find out which plan works best for you by submitting a request for more information by calling me at 610-722-1088 or you can use the reverse mortgage calculator on my website at http://www.reverseworkshops.com or email mail me at gregoryjmcdermott@wellsfargo.com and one of my team can answer all of your questions concerning this new bill and just about everything else regarding reverse mortgages.

05.05.09 Reverse Verse

My clients LOOK  old,

but their hearts are so young

their stories need to be told

and that’s that is what I will do.

I have had the pleasure of helping hundreds of our areas young hearted seniors and over the next few months I hope to share some of their stories without compromising their privacy.

Stay tuned in for real live stories told in reverse…

First Blog in Reverse

Sorry this is so short. Just saying hello for the first time. Old guys like me have to make sure we test things out first.