Refinance if you can.....

There is a great article in the July 20th issue of Kiplinger's Personal Finance entitled, "Refinance, If You Can". It talks about all the issues that exist today about loan qualification that did not exist over the past several years. For those who are over the age of 62 and have sufficient home equity, these qualifications don't exist.

New Reverse Mortgage Lender

We've just signed up with a new reverse mortgage lender who is providing a fixed rate that is the lowest in the industry....5.56% fixed....You must access your total line amount so it makes it perfect for those who have a mortgage to pay off or are in need of a large sum of money at closing.

Out of Foreclosure

Friday morning I had the privilege of making someone very happy. We closed on a reverse mortgage and removed him from foreclosure! Michael was about to lose his home in August, but a Realtor friend realized that he had quite a bit of equity. We had some negotiation with the lender to get them to take a bit less that was owed, but, in the end everyone is happy. The 1st and particularly the 2nd lender got their money and Michael gets to keep his home.

An introduction

My name is Bob Groening and I've worked in the mortgage arena for more than seven years. Four years ago I educated myself on the Reverse Mortgage product and began educating elder adults on their use. I've just started this blog to continue that education and find others who would like to learn more.