Reverse Mortgage

Tapping life insurance for cash 
Baltimore Sun - Nov 19 12:53 AM
Want to raise cash during retirement from someplace other than your retirement accounts? Save

Two Colorado Based In Home Elder Care Companies Join Forces 
[Press Release] PR Web - Nov 10 12:09 AM
Seniors ETC, Inc. and AmeriCare Alliance Denver have joined forces and will now be known as Seniors ETC, Inc. The merger will provide the Colorado Region with one of the largest “One Stop Shop” solutions to In-Home Care Services (PRWeb Nov 10, 2006)Save

What if co-signer defaults on home mortgage? 
Reno Gazette-Journal - Nov 21 11:56 AM
DEAR BOB: A few years ago, my husband’s brother talked him into co-signing on a mortgage so the brother could buy a condominium. My husband had good credit and his brother did not. Since then, his brother has been in and out of jail, doesn’t work steadily and my husband often has to pay all or part of the mortgage payments to prevent it from going into default. My husband wants his brother to Save

Manager’s 15-year streak likely to end 
Daily Record - Nov 03 2:20 AM
When an assessment is made of the key financial stories of 2006, one of them certainly will be the end of Bill Miller’s amazing streak: his fund beating the Standard & Poor’s 500 for 15 straight years.Save

ROBERT BRUSS: Living trusts simplify transfer of home deed 
Detroit Free Press - Nov 12 2:32 AM
Dear Bob: You have said several times the way to convey title to real estate into a living trust is by a quitclaim deed signed and notarized by the owner. That’s what we did. But now we want to sell our house, which is in our living trust. How do we do that? — Janet Y.Save
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Reverse Mortgages and Taxes (Part 3)

The amount of money that you will get from your reverse mortgage is determined in several ways. First, the home will need to have a Federal Housing Administration or Fannie Mae approved appraisal. This will determine the value of the home. It is also determined based on the starting interest rate of the loan, the fees that are involved as well as the location of the home. All of these things play into the amount of funds that can be acquired through the reverse mortgage.

When considering a reverse mortgage, homeowners will need to seek out HUD approved counseling to help them to make the right decisions for their needs. Because these mortgages are FHA backed, they can provide these services to the homeowner so that they can make the right decision.
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Reverse Mortgages and Taxes (Part 2)

For those that are on social security or those that have Medicare, the reverse mortgage is still a plus for many. Unlike any other source of income, the reverse mortgage will not affect their benefits. In other cases, the individual is only allowed to make a specific amount of money per year over their social security benefits. The funds from a reverse mortgage do not qualify though and therefore you benefits will not decrease if you tap into this type of funding.

If those that receive these funds will hold them past the end of the calendar month, though, the funds will be considered liquid assets. Therefore, this can harm them in their eligibility for these programs.
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Reverse Mortgages and Taxes (Part 1)

The reverse mortgage has fast become of the hottest loan investments today. Each year, more and more people are considering this type of funding for their needs because it is low cost and affordable. It also allows the homeowner to tap into the funds that they need to make payments, to fund long term care or even to help them to secure a second home. There are many ways in which this type of loan can be used. In fact, in most cases, there are no restrictions on how it can be used, as long as the home s mortgage is paid off in full prior to the funds be used otherwise.

What about taxes? This is another benefit of the reverse mortgage. Unlike other mortgages and loans where there are fees and taxes that bring down the loan from the start, the funds that come from a reverse mortgage are not taxed income. This allows the homeowner to secure the funds that they need without having to worry about the government taking a large chunk of it.
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CALENDAR 
Visalia Times-Delta - Nov 15 4:14 AM
Exeter Union High School Meets 5 p.m. in EUHS Library, 820 San Juan Ave., Exeter.Save

Best bets 
The Times of Northwest Indiana - Nov 16 10:57 PM
Fudge and cookies, anyone? Morgan Hustling Hoosiers 4- Club will hold its annual homemade fudge and cookie sale from 8 a.m. to noon Dec. 2. at the Morgan High School entrance, 299 S. Ind. 49.Save

Business licenses 
The Columbian - Nov 10 10:31 AM
Accurate Building, 6415 N.E. 94th Ave., Barry and Melissa Reber, owners. Al Coleman Construction Inc., 809 N.E. 101st Court, Anthony and Carrie Coleman, owners.Save

WSFS Bank Announces New Head of the Newly Created Reverse Mortgage Business Unit 
[Press Release] PR Newswire via Yahoo! Finance - Nov 02 7:44 AM
WSFS Financial Corporation , parent company of WSFS Bank, announces that Patricia Kauker has joined WSFS as Vice President of the newly created reverse mortgage business unit.Save

Terms to know 
Peoria Journal Star - Oct 22 1:08 AM
Below is a glossary of terms associated with reverse mortgages. Annuity: A monthly cash advance for life from an insurance company. Credit line: A credit account that permits a borrower to control the timing and amount of the loan advances; also known as a “line of credit.”Save

Under the Tower News: Week offers learning opportunities 10-29-2006 
Plainview Daily Herald - Oct 29 4:57 AM
The Center had a very busy and very productive October. We are in full swing with the fall schedule. We have had many new people stop in to see us. Our meals have been great and the lunch crowd has had a great time.Save

Headlines archive 
Moneymanager - Nov 14 2:04 PM
This page lists articles appearing across all areas of the site. Browse across topics or go directly to one of our four main categories: Investments Banking Property PlanningSave

Asset-rich flock to reverse mortgages 
Sydney Morning Herald - Oct 19 6:59 AM
THE number of asset-rich but cash-poor retirees borrowing against the value of their home to finance spending has doubled over the past 18 months. -Save

As Prices Fall, U.S. Home Buyers Benefit 
CBS 46 News Atlanta - Nov 13 7:28 AM
Falling housing prices in some areas are now making it possible for more people to enter the housing market. If this were to happen nationally, it would be good news for the economy.Save

ROBERT BRUSS: Living trusts simplify transfer of home deed 
Detroit Free Press - Nov 12 2:32 AM
Dear Bob: You have said several times the way to convey title to real estate into a living trust is by a quitclaim deed signed and notarized by the owner. That’s what we did. But now we want to sell our house, which is in our living trust. How do we do that? — Janet Y.Save
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Reverse mortgages a flexible way to access home equity 
Montgomery Advertiser - Oct 17 2:13 AM
In the last several years most homeowners have realized that their home equity is growing larger, and they want to consider ways to utilize their real estate equity as part of their financial resources for retirement and estate planning. Of course, homeowners could sell their homes and use fewer resources for housing, borrow against their home with mortgage loans or consider a relatively new Save to My Web

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There are also several options when it comes to how these loans are paid to the homeowner. You can often choose on of them or a combination of all of them to use for your needs.
A lump sum: Often, the money from a reverse mortgage will be paid to the homeowner in a lump sum, meaning a one time payment of the value of the equity in the home. A specific amount that is paid over the course of ten years (or other terms are available.) In this option, the homeowner will be able to have payments over the course of the set terms, ten years in this case, that they will receive a check from the equity in their home. This can help homeowner to manage their funds throughout this time period. A specific amount can be paid each month to the homeowners until they die or they move out of their home permanently. This is often something that allows them to secure a monthly payment to use as they see fit without worry about it running out before they die. A line of credit is also an option in a reverse mortgage. Here, the funds are provided as a line of credit that can be repaid to the lender. Here, they can take out a specified amount to make a repair or to pay a bill as they need the funds. In some cases, this too is not paid back. It is simply tapped into when it is needed.
Securing the right type of terms for your needs is really up to you. Consider what you need the fund for and how readily you need them. Some will get a lump sum payment for their reverse mortgage and then place the funds into a savings account until it is needed. You can do whatever is right for you as in most cases, there are no restrictions.
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Reverse mortgages better than starvation
The Financial Standard, Australia - Nov 2, 2006… If your reverse mortgage is going up at 8 per cent and your house is going up at 3 per cent then you ll get squeezed, he said. …
Source: www.financialstandard.com.au

Get a handle on debt
WFAA (subscription), TX - Nov 6, 2006… Where do we start? Ms. Cunningham answered: Immediately call CCCS Dallas and get an appointment with a Reverse Mortgage specialist. …
Source: www.wfaa.com

MAIL BAG: Reverse mortgages available to seniors
Richmond Times Dispatch, VA - Nov 4, 2006… Where is the best place for my parents to get a reverse mortgage? Are reverse mortgages available at small-town banks? Marsha W. …
Source: www.timesdispatch.com

Kapil Wadhawan on Maharashtra Housing Policy
Times Now.tv, India - Nov 2, 2006… For the next six months, interest rates are going to remain stable. Q. Your company has launched a reverse mortgage scheme for senior citizens. …
Source: www.timesnow.tv

‘Borrowable’ home equity makes a tantalizing target
Inman.com (subscription), CA - Nov 1, 2006… While he admits that “the (reverse mortgage) products, in the early days, weren’t great,” he insists “the current FHA product is fabulous.”. …
Source: www.inman.com

REAL ESTATE Q&A: When nearing retirement, a smaller home can be a …
Asheville Citizen-Times, NC - Oct 21, 2006… If you own your home free and clear or have a very small mortgage, you can refinance into a reverse mortgage, whereby you can access the equity in your …
Source: www.citizen-times.com

Reverse Mortgage USA in 5% of Lenders that Specialize in Reverse …
SBWire (press release), WI - Oct 23, 2006California based Reverse Mortgage USA is a member of a select group specializing in Reverse Mortgages. Company sees over 100% increase …
Source: www.sbwire.com

Real Estate
Calcutta Telegraph, India - Oct 31, 2006… The Telegraph takes a peek at the future of the plan that s called reverse-mortgage . Called reverse mortgage , it is …
Source: www.telegraphindia.com

Refinance or reverse mortgage?
Bankrate.com - Nov 8, 2006I am checking out whether to refinance or take a reverse mortgage. I will be 79 in January and live on my Social Security income. …
Source: www.bankrate.com

Reverse mortgages gain traction
OCRegister, CA - Nov 5, 2006… “More and more people are getting comfortable with the concept,” says Peter Bell of National Reverse Mortgage Lenders Association trade group. …
Source: www.ocregister.com
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Reverse mortgages a flexible way to access home equity
Montgomery Advertiser, AL - Oct 17, 2006… financial obligations. So, what is the catch? To many, a reverse home mortgage sounds too good to be true. The big disadvantage …
Source: www.montgomeryadvertiser.com

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Will you people stop doing drugs!!!!
Rolling Stone - Turn off the TV. The reason there has been no uproad over this is because the community accepts the mass media as gospel. The mass media is in the pocket of the GOP (and vice versa) so the saga continues. Say no to the mass media. Shove your TV in

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