LiveWell Financial ceased operations due to operating difficulty. Here is the article that was published on May 6,2019. LiveWell Ceases Loan Originations Clients with an existing Live Well loan - the servicing will be transferred to another servicer or taken over by FHA directly and all terms of…
Reverse Mortgage Loan Limits to Increase in 2018 The Federal Housing Administration (FHA) announced Reverse Mortgage Loan Limits will increase in 2018. This is significant news since lending limits have remained stagnant for several years. The maximum claim amount will now rise to $726,525, up from $636,150…
Major Increase in Monterey; Sonoma; Ventura and Yolo Counties in CA; Summit County in UT as well as King; Pierce and Snohomish Counties in Washington Single family conforming loan limits increased to $484,300 across the nation and to $726,525 in certain high-cost areas. Several counties that previously were…
“It’s the age-old question: When and how do we have “the talk?” No, not that one, but the dialogue on the other side of the lifetime spectrum, often just as difficult and delicate — the one about an aging family member’s driving abilities, housing transitions, costs of long-term…
Condo Communities Can Look to Reverse Mortgages and FHA loans again Once Regulations are Adopted The most relevant provision of the changes will emulate the FHFA’s rules regarding the transfer fees for FHA mortgages including reverse mortgages. In July 2015 FHA began refusing to approve condominiums in higher…
A good summary of the 9 ways to use a reverse mortgage was published by Mary Beth Franklin – in Investment News June 2016. Investment News is a leading reference source for Financial Planners. Titled “9 surprising ways to use a reverse mortgage” is an excellent summary of…
Did you know a veteran can purchase a home in the Bay Area with 100% financing up to $625,500 and with 90% financing to over $1 million? VA loans do not have any monthly mortgage insurance and rates are around 4% within the lender credit to cover the…
FHA will be accommodating younger spouses under the age of 62 this August. Situations where a couple would benefit from a reverse mortgage but one spouse does not happen to be 62 can now be accommodated and allow the non-borrowing spouse to stay in the home, even if…
ReVisions Resources posted this article of mine on their blog this morning. ReVision Resources is dedicated to helping seniors by connecting them with ideas and resources to stay independent. A home remodel can arise out of need or desire – either way, figuring out how to pay for…
Can Help Retirees Keep Investments Until Right Time to Sell No longer viewed as a last resort, a reverse mortgage is an important financial tool that can be used as a strategic piece of your financial plan. A reverse mortgage can be used to avoid selling depressed investments…