http://reversemortgagedaily.com/2008/09/21/do-the-mortgage-problems-on-the-news-affect-reverse-mortgages/ Reverse Mortgage News and Information Mon, 13 Feb 2012 00:19:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://reversemortgagedaily.com/2008/09/21/do-the-mortgage-problems-on-the-news-affect-reverse-mortgages/comment-page-1/#comment-29592 marge Sat, 30 May 2009 18:10:44 +0000 http://reversemortgagedaily.com/2008/09/21/do-the-mortgage-problems-on-the-news-affect-reverse-mortgages/#comment-29592 have a question if property is about to be foreclosed on can the bank make me tap into my reverse mortgage moneys to satisfie the loan on the property? have a question if property is about to be foreclosed on can the bank make me tap into my reverse mortgage moneys to satisfie the loan on the property?

]]> http://reversemortgagedaily.com/2008/09/21/do-the-mortgage-problems-on-the-news-affect-reverse-mortgages/comment-page-1/#comment-8446 Deb Wed, 24 Sep 2008 12:14:38 +0000 http://reversemortgagedaily.com/2008/09/21/do-the-mortgage-problems-on-the-news-affect-reverse-mortgages/#comment-8446 Beverly, you can certainly apply for a government insured reverse mortgage, HECM. It sounds like you only used $26,000 of an available $175,000. If that's the case, there should be enough available under the HECM to pay off your current balance and have money left over, especially if you wait for the new lending limit to be put in place. Keep in mind that you will have to pay closing costs all over again. Beverly, you can certainly apply for a government insured reverse mortgage, HECM. It sounds like you only used $26,000 of an available $175,000. If that’s the case, there should be enough available under the HECM to pay off your current balance and have money left over, especially if you wait for the new lending limit to be put in place. Keep in mind that you will have to pay closing costs all over again.

]]> http://reversemortgagedaily.com/2008/09/21/do-the-mortgage-problems-on-the-news-affect-reverse-mortgages/comment-page-1/#comment-8338 Beverly Harkleroad Mon, 22 Sep 2008 21:42:00 +0000 http://reversemortgagedaily.com/2008/09/21/do-the-mortgage-problems-on-the-news-affect-reverse-mortgages/#comment-8338 Is it possible, if you already have a reverse mortgage, with Bank of America, to reapply for a goverment backed loan? my property appraised at about 450,000$ and we received around 175,000 taking 26,000 as a cash out. but now i am beginning to worry that the market is so unstable what will happen to my reverse mortgage. i am 69 and my husband is 70. if it is possible to move into a government backed loan would make us feel more secure. Is it possible, if you already have a reverse mortgage, with Bank of America, to reapply for a goverment backed loan? my property appraised at about 450,000$ and we received around 175,000 taking 26,000 as a cash out. but now i am beginning to worry that the market is so unstable what will happen to my reverse mortgage. i am 69 and my husband is 70. if it is possible to move into a government backed loan would make us feel more secure.

]]> http://reversemortgagedaily.com/2008/09/21/do-the-mortgage-problems-on-the-news-affect-reverse-mortgages/comment-page-1/#comment-8270 Mike Mon, 22 Sep 2008 03:46:35 +0000 http://reversemortgagedaily.com/2008/09/21/do-the-mortgage-problems-on-the-news-affect-reverse-mortgages/#comment-8270 Good article. I think the more that Baby Boomers learn about reverse mortgages the more they will realize how beneficial and safe they can be. Especially in this uncertain economy we are now in. Good article. I think the more that Baby Boomers learn about reverse mortgages the more they will realize how beneficial and safe they can be. Especially in this uncertain economy we are now in.

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