http://www.reverseresource.com News and Resources about Reverse Mortgages Thu, 03 Jul 2008 13:31:03 +0000 http://backend.userland.com/rss092 en Dear Savvy Senior, Can you tell me about reverse mortgages? My wife and I are both in our 70's and are interested in learning more about this option. Homebody Bob Dear Bob, Over the years reverse mortgages have been considered loans of last resorts, only for financially desperate seniors. Not anymore! The reverse mortgage ... http://www.reverseresource.com/2008/07/03/understanding-reverse-mortgages-2/ As Falling Home Values Erase Some Long-Held Reverse Mortgage Rules of Thumb, Customers Continue to Subscribe to Both New and Existing Reverse Mortgage Myths As reverse mortgages continue to grow in popularity so have the various myths and misconceptions surrounding them, making it more important than ever for borrowers to obtain ... http://www.reverseresource.com/2008/07/02/debunking-ten-emerging-and-common-reverse-mortgage-myths/ A new state law designed to protect consumers from the risks of "reverse mortgages" mandates greater disclosure of fees charged by lenders but still permits them to penalize borrowers who pay off their loans early. The allowance for prepayment penalties was described by supporters of the legislation as a compromise measure ... http://www.reverseresource.com/2008/07/01/carcieri-signs-reverse-mortgage-law-rhode-island/ Most of the 191 laws approved by Iowa lawmakers and signed by Gov. Chet Culver this year will take effect Tuesday. While small portions of some budget bills were vetoed by the governor, only two were vetoed in their entirety. They included a law that would have given Iowa's public employees the ... http://www.reverseresource.com/2008/06/30/iowans-will-face-many-new-laws-tuesday/ Every now and again ReverseResource.com receives email and/or comments.  The following comment was left in the contact us section.  My response follows: I would like to state that we are very unhappy with the reverse mortgage that my parents took out from WSFS Bank in 1990. It is a shared appreciation ... http://www.reverseresource.com/2008/06/26/reader-unhappy-with-mothers-reverse-mortgage/ For Don and Rebecca Spendlove, just keeping a roof over their heads has taxed their mental, emotional and physical as well as financial capabilities. The Nipomo couple have found themselves in the same situation as millions of other Americans: Their homes are worth less than they owe, their mortgage terms are ... http://www.reverseresource.com/2008/06/25/facing-foreclosure-a-family%e2%80%99s-struggles/ Families with autistic children and their advocates praise the concept of a new state commission on autism but say it falls short of tackling real issues. Lt. Gov. Peter Kinder signed a bill into law Monday in Springfield creating the Missouri Commission on Autism Spectrum Disorders and an Office of Autism ... http://www.reverseresource.com/2008/06/24/law-creates-state-autism-commission/ Martin Montes, 37, a Culver resident, didn't see it coming. He bought a new home in 2007, when he had a good job and the economy was fine. But a year later a slew of events - a new baby, a reduction in his weekly hours at Bright Wood Corp., from ... http://www.reverseresource.com/2008/06/23/housing-crisis-hits-some-families-hard/ Australia's reverse mortgage sector has experienced a boom, promoting a call for retirees to seek professional advice. As Australia's reverse mortgage market skyrockets, retirees are urged to seek informed advice before making decisions over their options, according to Sydney Wide Investments Mortgage Manager (SWIMM) managing director Tim Stoyles. "At the moment, the ... http://www.reverseresource.com/2008/06/20/reverse-mortgage-boom-calls-for-advice-australia/ Social Development Minister Ruth Dyson today said the Government was looking at a mandatory code of practice, to protect the elderly, for those offering reverse mortgages. Ms Dyson told Parliament's social services select committee that home equity releases, also known as reverse mortgages, were a good way for elderly people to ... http://www.reverseresource.com/2008/06/19/spotlight-on-code-of-practice-for-reverse-mortgages-new-zealand/