By vanko on October 8, 2011
One of the things that people that invest in real estate sometimes have to do is get a refinance on their current mortgage. This article details some of the issues that I’ve had to deal with when getting a refinance. Mortgage Brokers This happens a lot. You start talking to a broker and he promises [...]
Posted in Develop Your Skill | Tagged aware, be, common, Mortgage, of, pitfalls, these
By vanko on September 29, 2011
One of the things that we always explain to senior borrowers when they ask about reverse mortgages is that they are non-recourse loans. The next question is always, What is a non-recourse loan?. This is a very important feature of the reverse mortgage and I want to take a moment to explain just what non-recourse [...]
Posted in Develop Your Skill | Tagged a, cunsumer, Mortgage, nonrecourse, protection, reverse
By vanko on September 28, 2011
Reverse Mortgages are not short term, hard money, bridge or balloon loans normally associated with the type of loans people are forced to get to stop a foreclosure proceeding. But for seniors aged 62 and over, a reverse mortgage can be a life-line that rescues the seniors in danger of losing their homes to foreclosure. [...]
Posted in Develop Your Skill | Tagged a, foreclosure, Mortgage, reverse, stop, with
By vanko on August 31, 2011
Active duty military personnel who are having financial problems with their mortgage payments have some avenue of help under the Soldiers and Sailors Relief Act which can be very beneficial to them and to their families. Who is eligible for this program? The provisions of the SSRA apply to active duty military personnel who had [...]
Posted in Develop Your Skill | Tagged a, how, military, Mortgage, to, use
By vanko on August 5, 2011
You’ve made the decision to get a reverse mortgage and you’ve heard that there is no income or credit qualifying so you think you will have no issues getting your loan. All you have to do is get your counseling, sign all the paperwork and you’re set, right? Not exactly. There are some things you [...]
Posted in Develop Your Skill | Tagged a, does, know, lender, Mortgage, need, on, reverse, the, to, what
By vanko on July 18, 2011
Since first offering reverse mortgages, I’ve often been asked, How do I/we know if a reverse mortgage is right for me/us? This is a question that has a different answer for different people. I always start with the same first response, The first thing I would recommend is that you seek the guidance of a [...]
Posted in Develop Your Skill | Tagged a, is, Mortgage, reverse, right, when
By vanko on July 15, 2011
Mortgages come in many different types and, for this reason – not every mortgage is designed to be able to meet everyone’s needs. Balloon mortgages are certainly one of these that may not fit most people’s needs, but have a great use for loans needed for just a short term. Several loan types are basically [...]
Posted in Develop Your Skill | Tagged a, balloon, best, for, Mortgage, when, work, would, you
By vanko on June 22, 2011
One of the most exciting steps that you can take in life is making the purchase of a new home. If you have started on that journey, one of the most important considerations that you need to bear well in mind is how much you can afford to pay for your new home, how much [...]
Posted in Develop Your Skill | Tagged afford, affordable, an, calculating, can, home, how, Mortgage, much, you
By vanko on June 14, 2011
Many of you have huge databases and do a great job of keeping in touch with the contacts on your lists using frequent mailings. If you are one of these people…Kudos to you! When maintained correctly, your database will provide a super source of mortgage referrals and new loans, keeping your pipeline filled for many [...]
Posted in Develop Your Skill | Tagged easy, list, made, management, Marketing, Mortgage
By vanko on June 2, 2011
As I talk to borrowers and their families, I’m often asked what restrictions there are on the use of the funds from a reverse mortgage. The answer is simple, there are no requirements or restrictions on what you can do with your money, only restrictions against what you must do with the proceeds. In other [...]
Posted in Develop Your Skill | Tagged common, funds, Mortgage, of, reverse, use
