Tag Archives: mortgage
Moving Into a New Home Or Taking Out a Reverse Mortgage – What to Expect
Moving into a new home, or your first home, can be one of the most exciting times of your life. You will suddenly have complete control over how you decorate and what you can do with the place that you live and this feeling can be very liberating. However, when you are going through the process of moving into your new home, you might be a little bit worried about what problems may arise and how you will address those problems if they do occur.
It is normal to be cautious when you are going through something new such as buying a home or taking out a reverse mortgage. When you are moving into a new home, you might have a few moments when you will second guess your decision to purchase that particular home. If this does happen, it can be a good idea to take some time and think about why you chose this house in the first place and what has brought up these concerns that you now have. You will likely find that your concerns are simply due to being nervous about the moving process and that you really are happy with your choice to buy this particular home.
Before you move into a new home, it is usually a good idea to have an inspector come and complete a thorough inspection of the house. As with anything such as a reverse mortgage, you want to be sure that you know what you are getting into. The benefit of hiring an inspector to complete an inspection is that they are specialists in this area and will likely find any problems with the home if there are any. This can also help avoid running into any unforeseen problems with the home after you have already moved in. If you have the inspection done on the house before you close, you might even be able to ask the current owner to cover some or all of the costs to fix the problem.
One thing to help make the process of moving into your new home a little easier is to have a good attitude throughout the process and to keep in mind that you will soon be a home owner. You will have many more options down the road as a home owner, such as taking out a reverse mortgage, and this makes all the difference to many home owners. You can have a lot of fun when you are moving in such as with deciding what color you want to paint each room, how you want to decorate and what you would like to do with the landscaping.
Buying a home can be one of the most exciting times of your life. If you do begin to feel stressed out during the process, it can help to take a few minutes and remind yourself why you chose to start looking for a home to buy in the first place. Doing this can help you remember why this is important to you and can really help calm any nerves that you may be feeling.
Reverse Mortgage Career – A Career With a Heart
In today’s political climate where everyone is looking for someone to blame for the economic downturn, they don’t want to let anyone think that the politicians forcing FNMA and lenders to make loans to people to who did not qualify might be the problem. They continue to look for the boogieman in the lowly Mortgage Brokers like they created the products and then asked the borrowers to lie about their income so they could make a loan.
It is time for everyone to admit to their share of the problem, these loans should not have been allowed by the government, the lenders or the investors buying these loans. The Brokers had to offer the products that were available and if they did not offer some other lender or Broker would.
Here is the rub, offering reverse mortgages allows the Broker to really make a difference in the life of a senior citizen but there is so much negative press that it is freaking out the people that should do this to the point that they are frozen with fear, they do nothing and then many lose their house or continue to just squeak out an existence.
My partner just met with a man in southern California that had a Turkey Farm that was very profitable for many years so he decided to reward himself with a beautiful home now worth $ 2,500,000 even after prices have dropped. The problem is that just after he built this wonderful home the company buying the Turkeys moved their processing plants to the Midwest to escape the high cost of doing business in California. Now this man who has done so well is on the verge of losing everything because he does not have the cash flow to support his home mortgage. We were able to go in and do a Jumbo Reverse Mortgage and save this man from certain disaster, what a great feeling this gives us to be the only ones in this man life offering a solution instead of asking him to sacrifice or pay out more of his now scarce money.
I feel like we are saving seniors from certain destruction and yet we have to put up with the likes of Hilary Clinton saying the problems in the economy are the Brokers fault, really Hilary, when was the last time you actually helped a senior citizen keep their home? The service we are providing really is a labor of love, our industry has gotten harder as home values drop, we have to tell seniors that they may lose their home because they waited too long and their home value is not enough to solve their problems.
The positives still out weigh the negatives in our industry, keeping a senior in their home gives you a great sense of satisfaction. Providing the money needed for these folks to continue to provide for themselves allows the Loan Officer to give real service to those in need, not just focusing on making money. This is a business for those who like that special feeling you get when you help another in need, if you can see yourself making a living helping seniors live a better life then you should consider getting into a reverse mortgage career.