There was a story about how reverse mortgages can lead to financial ruin that I found somewhat interesting - especially with the amount of seniors who are looking into getting an Arizona reverse mortgage. Will a reverse mortgage lead to financial ruin? According to Consumer Reports... maybe! From the story: Ads for reverse mortgages sound pretty enticing. Use the equity in your home … [Read more...]
Arizona Reverse Mortgage: What Is Loss Of Medicaid Eligibility?
If you are considering an Arizona reverse mortgage, be sure that you ask your loan officer about something called "Loss of Medicaid Eligibility". If he doesn't know what you are talking about, you might want to consider finding another loan officer. It is that important. Loss of Medicaid Eligibility: What Is It? With a reverse mortgage there are multiple ways to get your money. You can … [Read more...]
Arizona Reverse Mortgage: FHA Reverse Mortgage Loan Limits Increase
HUD Mortgagee Letter Raises Arizona Reverse Mortgage Loan Limits Yesterday, HUD published an official Mortgagee Letter (2009-07) that raised Arizona reverse mortgage loan limits to $625,500. This is good news for Arizona seniors! As of yesterday, anyone who is interested in getting an Arizona reverse mortgage can now have access to more money. The old loan limit was $417,000 and the … [Read more...]