Last night the Senior Lending Network announced that it would be temporarily suspending all new applications for its Equity Plus Advantage and Simple 60 for the next 60 days.  All remaining applications need to be submitted by October, 29 and must close by November 26, 2008. According to the email, the SLN saw its volume [...]

Over the weekend NY Times columnist Bob Tedeschi writes about reverse mortgages and why the Housing and Economic Recovery Act matters to New York area residents.  The new laws are intended to give older homeowners access to more of their homes’ equity, provide stricter consumer protection, and, most important for New York-area residents, offer co-op [...]

As the economy continues to get worse, many seniors are struggling to make ends meet and are forced to consider whether or not they should remain in their home.  According to a recent report from AARP,  89% of older Americans want to stay in their residences for as long as possible.  This was the case [...]

Senior Lending Network recently announced that its chief executive officer, David Peskin and Suffolk County Legislator Steve Stern will be participating with the National Aging in Place Council (NAIPC) to celebrate National Aging in Place Week (October 13 through October 19).  Peskin and Legislator Stern will be holding seminars throughout Suffolk County, NY to provide [...]

National Mortgage News journalist Amild Dymi recently wrote about the Senior Lending Network’s strategy of using television commercials to help grow their reverse mortgage business.  "Our strategy has been to continue to build brand awareness on television and educate the customers on reverse mortgages, so we offer free educational videos," said CEO David Peskin.  The [...]

EverBank Reverse / MetLife announced that they would be discontinuing their proprietary reverse mortgage product due to the unprecedented market events of recent days.  The Reverse Select is the second jumbo reverse mortgage product that has been discontinued in the last 30 days. So what options are left?  The last and only wholesale lender offering [...]