Earlier this month, Consumer Credit Counseling Service (CCCS) of Greater Atlanta announced that it was merging with Consumer Credit Counseling Service (CCCS) of Central Florida & The Florida Gulf Coast.  Together these agencies provided a range of counseling services to an estimated 550,000 consumers during 2008.  The merger enables CCCS of Greater Atlanta to significantly [...]

West Palm Beach Florida’s WPTV Channel 5 aired a segment over the weekend on how a reverse mortgage was able to save the home of one 67 year old resident.  “Jack the Bike Man” who is known throughout the neighborhood for the bike charity he runs, was having a hard time affording his mortgage when [...]

Years ago, a comedian from the old Soviet Union had a punch line that was so well-liked it seeped into the culture’s general conversation. “What a country!” he’d exclaim, heavily accented, after telling some amazing story about the differences between life here and back home. Players in the reverse mortgage sector are feeling similarly exuberant [...]

1st Reverse recently announced some changes to its HECM Pathway product, which is designed to assist borrowers in hardship situations where they receive little to no proceeds after settlement.  Starting in 2009, the program includes four major changes to help more borrowers qualify:

I received several emails from RMD readers asking about Bloomberg TV’s AARP: Making Money, Losing Trust investigation that aired last week. The report investigates why some seniors say this highly respected organization does a better job of working for its own financial well being than theirs. If you missed the airing last week, you can [...]

Looking to close a HECM for purchase deal?  Well, if you have a minimum net worth of $10 million, Sun West Mortgage Company might let you close it with them.  See the email they sent to brokers/correspondents below: