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Minnesota Reverse Mortgages in News
Check back periodically to view new
reverse mortgage articles as they are added.
reverse mortgage articles as they are added.
- Bank of America is exiting reverse mortgages. Servicing will continue on current loans so no worries if your loan is with BoA! It was a BoA business decision. OTHER REVERSE MORTGAGE LENDERS ARE STILL SECURE AND OFFERING REVERSE MORTGAGES AND WILL CONTINUE TO DO SO. Reverse Mortgages SIDAC can assist with reverse mortgages in Minnesota as we work with more than one lender.
- Understand Reverse Mortgage Options by Terry Savage was published in the Chicago Sun Times.
- Forbes.com Video Network Personal Finance interviews Jeff Lewis from Generation Mortgage on reverse mortgages:
- After a segment full of misinformation on reverse mortgages Fox & Friend's Bob Massi did a second segment on "Reverse Mortgages: What You Need to Know."
- Yes, the older one is the more funds they can receive however, waiting until one is older before doing a reverse mortgage may not necessarily mean more funds. This is because of potential changes in the market including higher interest rates (which affect the amount one can borrower) and potential cuts in the Principal Limit expected to be made by HUD.
- And to the statement that the loans aren't cheap I want to note that reverse mortgages have the same costs as conventional or traditional mortgages... the difference is the FHA Mortgage Insurance Premium. See a cost comparison at: "Reverse Mortgage Costs - High or Mythical?" and an explanation of the costs at: "Do You Understand The Reverse Mortgage Closing Costs?"
- ABC Good Money does a good piece on reverse mortgages. View video.
- "Silver Tsunami: Making The Case For Reverse Mortgages" published at www.financial-planning.com is a positive article on the benefits of reverse mortgages for financial planning.
- The June 2010 issue of Metro Lutheran includes an article written by Beth Paterson in their Senior Living section. Read "Reverse mortgages can meet multiple community interests" by clicking here.
- Hosted by AARP, Inside E Street on Retirement Living TV does a good piece on reverse mortgages. It can be viewed by clicking here.
- In response to the media coverage on reverse mortgages that is providing false and misleading reverse mortgage information such as the October 25, 2009 Parade Magazine "Intelligence Report" written by Gary Weiss read Beth's latest Blog article: "One Bad Apple Spoils The Bushel of Reverse Mortgages." You'll be surprised on the number of fraudulent bad apples in the reverse mortgage industry. (If you read the Parade Magazine article, be sure to read the comments that follow.) To share the response to this media message click here for a pdf of "One Bad Apple Spoils The Bushel of Reverse Mortgages."
The Media Needs The Reverse Mortgage Facts,
are the latest posts in Beth's Reverse Mortgage Blog addressing the misleading and incorrect information the media is reporting.
For a pdf of these choose from the following:
For a pdf of these choose from the following:
The Media Needs The Reverse Mortgage Facts, But Wait, There's More Reverse Mortgage Facts The Media Needs to Know, and It Is Not Reverse Mortgage Fraud When...
- "Stuck in Reverse" by Kelly Curran is a good article on reverse mortgages. Read this article at HousingWire.
- Tom Kelly wrote an article addressing the negative, reverse mortgage bashing that is happening. Read, "Reverse Mortgages shouldn't be lumped into 'bad' category" in the August 16, 2009 issues of The Spokeman-Review.
- In his column, Gray Matters at Newsday.com colonist, Saul Friedman points out that reverse mortgages are save: http://www.newsday.com/columnists/saul-friedman/gray-matters-reverse-mortgages-are-still-safe-1.1347485
- At The Reverse Mortgage Blog by Dennis Haber, Dennis does a wonderful comparison between the article in Gray Matters by Saul Friedman and the article in August addition of Consumer Reports which contains misleading information. Read this great post at: http://www.dennishaber.com/2009/08/the-hecm-reverse-mortgage-consumer-reports-fails-its-own-critique.html
- Today Show's guest, real estate agent Barbara Corcoran shares tips for people considering a reverse mortgage in these tough economic times. View by clicking here: http://today.msnbc.msn.com/id/26184891/vp/31367841#31367841
- Atlanta’s NBC affiliate featured Joe Morris, President of Generation Mortgage, a leader in the reverse mortgage industry and a lender whom we at Reverse Mortgages SIDAC, are partners. You can view the interview by clicking here
- Finance and Commerce quotes Beth Paterson regarding Governor Pawlenty's veto of the Minnesota reverse mortgage bill SF489/Chapter 127. Click here to read the article.
- Dennis Haber points out in The Reverse Mortgage Blog, "Governor Pawlenty does more for Reverse Mortgages than AARP." Click here to read the article.
- Pioneer Press covers Minnesota mortgage laws in Saturday, May 23rd, Business section. To read the comment on reverse mortgages in Minnesota click here to read.
- The Reverse Mortgage Report has published two articles on The Reverse Mortgage Wire regarding Minnesota's reverse mortgage legislation. Visit http://reversemortgage.dealflowmedia.com/ to view the articles, "Minnesota Legislature Delivers Bill to Governor," posted May 19, 2009 and "Minnesota Governor Vetoes Reverse Mortgage Bill," posted May 22, 2009.
- The Reverse Mortgage Daily has kept the industry up to date on the Minnesota legislation. You can view one of their articles, "Minnesota Reverse Mortgage Bill Sent To Governor For Signature" by clicking here.
- Minnesota Seniors are at risk of losing the Reverse Mortgage Option with proposed Legislation S.F. 489 and H.F. 528. Articles regarding this proposed Minnesota Legislation have appeared on a couple blogs: Great Places Inc.: www.greatplacesinc.com/Blog/EntryDisplay.aspx?EntryID=507 and Dennis Haber, The Reverse Mortgage Blog: http://www.dennishaber.com/2009/02/the-reverse-mortgage-bill-written-by-minnesota-legislature-is-primer-for-other-legislative-bodies-on.html
- Beth Paterson was a guest author on the blog at Great Places, Inc. Please visit Great Places Inc.'s blog/website for the article and access to other resources.
- Article written by Beth Paterson in MetroLutheran October 2008, Click here to read "Reverse Mortgages provide Security, Independence, Dignity, And Control" as a pdf.
- Reverse Mortgages SIDAC clients were featured in the Twin Cities Star Tribune. Click here to view the article, "Cashing Out The Nest Egg".
- Suze Orman was asked a question about whether a viewer's father should consider a reverse mortgage. Click here to watch the video with Suze Orman's answer.
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