The “Proprietary” market of Jumbo Reverse mortgages have made numerous steps to establish (and take!) market share (to the mixed joy of HUD and the FHA) and the relevant benefit of our Elder society. Seriously, I don’t see a down-side to the advance of private placement jumbo reverse mortgages. If anything, it will compel competition…

…to $970,800.00.   the significance of this is profound. Just 5 years ago the equity cap was raised to $636,000. That meant a $1,000,000 home would only benefit from 55% of the cap-$636,000.00; The remaining equity above the cap amount was not included in the debt to equity ratio and was lost to the Borrower.…

Bill (Retired Military) and Jane wanted my help deciding how to get rid of their substantial credit card debt ($170,000+). Their basics: -Mid 70’s -Reasonable health/longevity expectations -Monthly income $7,500 from 2 pensions (3,600 hers; 800 his) and social security and some passive income/RMD’s. -Home value $1,100,000 -Mortgage balance: $485,000 @$1,500/month; 18 years remaining on…

“Cost of Living Rider? Or-HECM HELOC Growth Rate?” by daniel J Turner NMLS#1016716; Geneva Financial LLC NMLS#42056 Copyright 2020 Daniel J Turner All rights reserved.   Today, I want to discuss the FHA HECM HELOC and Tenure payments with regard to the use of the “Tenure” and “Term” features in coordination with a retirement income…

This is the sample document for a reverse mortgage HECM HELOC. As you will see, the provisions of this program are contractual, and therefore guarantees. Click here to download PDF

5 Quick Reasons Why YOU Should Use Home Equity In Your Retirement Plan by Daniel J Turner NMLS#1016716; Geneva Financial LLC NMLS#42056 Copyright 2020 Daniel J Turner. All rights reserved. In today’s uncertain economy, the thought of ceasing your life-long effort of working for your daily bread and living the rest of your next 30-40 years…

“FHA Insurance Premiums in a Reverse Mortgage” by Daniel J Turner NMLS#1016716; Geneva Financial LLC NMLS#42056 Copyright 2020 Daniel J Turner All rights reserved.   I’ve heard MANY MANY planners utter those words…”The expenses are extremely high in a reverse mortgage“. Let’s rationally look at this assertion.   What does the insurance cost? ~The Premium…

by Daniel J Turner NMLS#1016716; Geneva Financial LLC NMLS#42056 Copyright 2020 Daniel J Turner. All rights reserved. I was out walking with my lovely Wife and our dogs this morning, and I began dwelling on a number of “moving parts” involving economics, reverse mortgages, and a couple of recent impressions. Specifically, how would Federal Reserve…