There is a new scam out involving reverse mortgages that everyone needs to be aware of as it doesn’t affect just senior borrowers. It seems that in their effort to constantly find a way to beat the system, there are some who are looking for ways to use senior borrowers and reverse mortgages to flip properties...

They were in the process of or contemplating obtaining a jumbo reverse mortgage with a company who sold their product to Lehman... The only ray of sunlight in this cloudy scenario for senior homeowners is the recent passage of the Housing and Economic Recovery Act, H.R. 3221

Simply put the Equity Key is a program for senior homeowners age 65 and older who wish to access money today for exchanging a portion of their future home value...

Today, President Bush signed HR 3221 into law which has many significant effects on homeowners. The Bill, in its final form, covered a number of subjects that Congress had been trying to resolve from the modernization of FHA, to foreclosure assistance for homeowners, to the shoring up for Fannie Mae and Freddie Mac...

The “comfortable income” many seniors thought they had planned is often eroded by rising costs and incomes which don’t keep pace with those costs. Are there any guarantees anymore...

There is another side to this story that affects senior borrowers very deeply that must be considered and needs to be brought out. IndyMac Bank owns Financial Freedom and holds one of the largest portfolios of both government insured Home Equity Conversion Mortgages...

Obviously neither Mr. Powell nor FINRA has ever sat across a table from a borrower or a couple who couldn’t meet their monthly obligations during these times of rising costs, they never talked to borrowers who had $ 25 left in their account on the fifteenth of the month and had to figure out a way to make ends meet for the remainder of the month until they received their next check...

What better day to talk about obtaining your financial independence than on Independence Day?! I don't think our forefathers ever considered the right to a reverse mortgage when framing the Bill of Rights and our Constitution...

What is the connection, you might ask between reverse mortgages and the price of oil?

A recent AARP study shows that 26% of people they surveyed were finding it more difficult to pay their mortgage or rent, and 66% found it more difficult to pay for food, gas and medicine.

But then the credit crunch came, What once was selling on Wall Street easily is now much more difficult for lenders to find investors willing to take the chance to buy. Add to that the fact that many of these loans are secured by very high value homes and those values are declining rapidly in many markets and you have the proverbial double whammy to the senior borrowers who own them and wish to obtain a reverse mortgage...

When asked why we chose to do this rather than accepting positions with large banks, we tell people it was an easy decision to make, we love what we do, and we believe in servicing our senior borrowers with nothing but the best...