Death, it seems, has its time and place. What might be crucial for reverse mortgage professionals to understand is how prevalent death before its time can be for an older population.
Continue readingComing to a State Near You
Coming to a state near you. California, Illinois, Utah and Minnesota. What do these states have in common? Mandatory cooling off periods for reverse mortgage loans.
Continue reading10 Linkedin Secrets to Grow Your Business
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Maximizing Your Reach with Linkedin
LinkedIn has become the business person’s online networking platform. This is a welcome change from other social media platforms where cat videos, political rants and personal fakery reign supreme.
Today let’s look at how each of us can expand our business network of influence and grow our business on Linkedin.
1- Upgrade to LinkedIn Premium. It’s worth it. From the ability to send private “in-mail” messages, improved searches and the ability to see all of your profile views.
2- Update your profile. First add your photo. People want to see your face. Also add some pizzaz to your profile description. First start with your title and then list what you do. For example you could be creative and add…
Download a transcript of this video broadcast here
Looking for reverse mortgage, training and technology? Visit www.ReverseFocus.com today!
Not in America
According to a recent article in the Daily Reckoning, Australia is facing a demographic bomb of sorts not unlike the U.S. with more than half of Australians projected to be age 50 or older by 2050. Today the Australian government spends $42 billion on the cost of aged care which is expected to balloon to $160 billion by mid century. Mathematically astonishing, economically unfeasible.
Continue readingHow Much Should You Be Working?
Just how much should you be working? It’s a good question considering it speaks directly to our quality of life, income and our overall sense of well being. One quote I came across summarized the quandary this way: “I arise in the morning torn between the desire to improve the world and the desire to enjoy the world. This makes it hard to plan a day”.
Continue readingFinancial Assessment Confusion
Which came first, the chicken or the egg? That rhetorical question came to mind when hearing various reports of loan officers who found some confusion surrounding the gathering of a prospect’s financial data prior to HUD counseling. Once such loan professional is…
Continue readingFlex Your Media Muscle
If I were to tell you you could possibly get far-reaching publicity for free would you be interested? I would imagine your answer is ‘yes’! Here are some tips that I have used to get a free write up in my local newspaper that may work for you.
Continue readingAssessment the Final Ripple from Housing Crash
Today marks the beginning of a new era for the Home Equity Conversion Mortgage: the Financial Assessment. As you watch today’s episode you are faced with an entirely new set of guidelines to qualify prospective reverse mortgage borrowers…
Continue readingBe ‘Natural” When it Comes to Assessment
Some people are not ready for a HECM loan. Some just don’t have a need and some are just downright dead set against the idea. Whatever the case may be carefully weigh how much effort to make in trying to overcome their objections.
Continue readingHassle Free Loan?
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A Hassle-Free HECM or Long Term Success?
Last week the Washington Post published an article entitled “Window is rapidly closing to get hassle-free reverse mortgage”. It is a well-written article outlining the change the financial assessment brings but more importantly it outlines the HECM program’s history which lead to such a monumental overhaul of the program. “Interested in a reverse mortgage without a lot of hassles? Better get your application in fast. As of April 27, the federal government is imposing a series of extensive “financial assessment’ test that will make applying for a reverse mortgage tougher- much like applying for a standard home mortgage.”
Indeed the Home Equity Conversion Mortgage has moved from being based merely on age and equity to a fully-underwritten loan, all in the effort to reduce risks for both lenders and FHA. For a quarter century…
Download a transcript of this episode here.
Looking for more reverse mortgage news, commentary and technology? Visit ReverseFocus.com today.
