Click for free information on reverse mortgages.
Robert Wagner,
Senior Lending Network
Spokesperson.
| Reverse Mortgage Educational resource |
Helping Seniors Through Education The Senior Lending Network is the nation’s foremost educator of senior homeowners and has assisted millions of consumers in learning about the important benefits of Reverse Mortgages. 15% of all Reverse Mortgage recipients in the U.S. have been educated by the Senior Lending Network! While their educational materials are extremely beneficial, personal consultation with a Reverse Mortgage expert who can review each individual’s situation is crucial. Senior Lending Network is proud to introduce seniors to their national network of qualified and trained Reverse Mortgage lenders to assist them in obtaining Reverse Mortgage services. Here are some interesting facts about Reverse Mortgages: The History of Reverse Mortgages Since the first Reverse Mortgage loan was issued in 1961, usage of this powerful financial tool has steadily risen throughout the decades. Today, more Reverse Mortgage loans are obtained than ever before. The U.S. Department of Housing & Urban Development (HUD) endorsed 62,034 Reverse Mortgages the first 10 months of 2006. That’s an 85% increase over the same period last year!
About Reverse Mortgage ProductsThere are several Reverse Mortgage products on the market today. The Home Equity Conversion Mortgage (HECM) is the oldest and most popular product from the Federal Housing Administration (a division of the U.S. Housing and Urban Development department (HUD).* Fannie Mae Home Keeper Private institutions issue products for higher valued homes.
About HUD CounselingAll HECM borrowers must receive independent third-party counseling. HECM counselors will discuss program eligibility requirements, financial implications and alternatives to obtaining a HECM and provisions for the mortgage becoming due and payable. Upon the completion of HECM counseling, the homeowner should be able to make an independent, informed decision of whether this product will meet their needs.
*95% of all loans are HECMs (Home Equity Conversion Mortgages) Educational ResourcesFinancial decisions regarding your home are some of the most important decisions you'll ever have to make. Senior Lending Network encourages seniors to learn everything they can about all home financing solutions, including whether or not a Reverse Mortgage is the right option or not.
Everyone's financial situation is different, so education is key to making an informative decision that will benefit you and your family for years to come. The Senior Lending Network is offering a FREE Educational DVD, tells you everything you need to know, in easy-to-follow language so you can fully understand the advantages of a government-insured Reverse Mortgage and how it can help you.
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© 2008 Mortgage-Tree.com
Does a reverse mortgage make sense for you? Learn about Reverse Mortgage Educational Resources for seniors.