Reverse Mortgage information for CPA's and Financial Planners

Here at Signet Mortgage we started our morning early at Round Hill Country Club in Alamo hosting a breakfast presentation for Financial Planners and CPA's on Reverse Mortgages.  

I wanted to quickly touch on a couple hot topics and questions that came up this morning. I'm always surprised by the variety of questions each audience brings.

HECM Saver – a reverse mortgage option that does not have the expense of the full mortgage insurance – addressing the most common concern about the cost of a reverse mortgage.  A senior would have access to a bit less funds but with costs in line with a traditional mortgage.  Perfect for the senior with a low existing loan or using the reverse mortgage as a 5-8 year strategy.

Long Term Care and a Reverse Mortgage – in certain situations a reverse mortgage can solve the issue of “how do I pay for Long Term Care” … with the proper advice and consideration a client may be able to arrange Long Term Care or purchase Long Term Care Insurance using the equity in their home. 

If either of these thoughts generate interest … be sure to contact me and I will make sure you are included in the next seminar. 

Always, a reverse mortgage is not for everyone, but perfect for others.  Either way, it should be a consideration for any financial plan.  Properly used, it can be a significant benefit to a Senior … even to purchase a home!  If you’d like to learn more you can visit our website www.SignetReverse.com.

Let me know your thoughts …

Why Banks are Exiting the Reverse Mortgage Market...

Consumers are likely to be confused with the recent exits from the reverse
mortgage market by Financial Freedom, Bank of America, Wells Fargo(wholesale) and
Seattle Mortgage. Happening all at once, the public might perceive
something negative is going on with the industry. The reasons are quite
different with one overriding factor - increased competition.

Financial Freedom parent One West never had their heart into the reverse mortgage
business. Bank of America has other problems and it was an opportunity to
shift an entire unit to deal with processing foreclosures.

The most significant factor, I believe, is increased competition from
independent retail loan originators supported by more wholesale options.
The pricing for reverse mortgages has come down considerably - all positive
for the senior. The introduction of the HECM Saver program and recent
limitations on loan originator compensation has leveled the field quite a
bit.

The differentiation of a trusted advisor is now is back to education,
quality advice and solid ethics - attributes large organizations have
trouble executing. As originators, we have an opportunity to educate our
clients and let the know - reverse mortgage options are here to stay!

For more on this shift, check out THIS article.

Points of Life

Points of Life is a collaborative group of professionals and specialists committed to helping serve the needs of an Aging Society. It's a great resource for those looking to prepare themselves, or their loved ones, for whatever the future holds. Check out their website for more information-

http://www.pointsoflife.org/

Signet Mortgage is a member of the Points of Life panel of professionals. The following clip is from a presentation March 30th in San Ramon where I was asked a couple questions about Reverse Mortgages. Check it out. (the video will automatically cue to the right spot--it's less than 2 minutes- not 12!)

St. Patrick's Day or Submarine Day?

This week, instead of sending the St. Patrick’s Day greeting you’re expecting to get, Signet Mortgage has a little surprise for you!  Did you know that March 17^th is also Submarine Day?  Do you know what the most popular submarine in America is? There is a prize for the right answer!  Watch the video to find out more!

Whatever you decide to celebrate, have a great day!

Mortgage Rates Drop on "Flight to Safety"...

The unfortunate circumstances in Japan and in the Middle East have created uncertainty in the investment markets causing a “flight to safety” of bond investments.  As illustrated in the figure below the bond market has returned to January highs thought to be history.  When the bond market is up – the yield or rates decrease.  As a result fixed mortgage loan rates have improved 0.250% to 0.375% since the first week in February. 

This is an exceptional time to buy a home or refinance.  Many missed out when interest rates moved up and this decline is not likely to last long.  Once the situation begins to stabilize market trends will re-establish and rates will go back up. 

A Fun Link for Friday!

Ever hear the saying,
 "Only Robinson Crusoe had everything done by Friday"?
...not this week :)

I wanted to send you an amazing link to start your weekend off on a fun note.

Watch this incredible 1 minute video that shows a fast-forwarded 24 hour video clip of all the airplanes flying on the planet.

I bet you will watch it more than once ...I found it fascinating! 
Let me know how many times YOU end up watching it.

Look at all the travel and vacations on this really neat clip!

click here World Wide Flight Map


Enjoy your weekend!

San Ramon Elder Ed Players, an Elder Care Presentation

FOR IMMEDIATE RELEASE

Points of Life Nudges Seniors and Boomers Into the 21^st Century With a Breakthrough Method.

Danville Based, Points of Life Team, a collaboration of 17 distinguished senior care professionals, serving all areas of family needs,   launches The Elder Ed Players, a dramatic approach for reaching senior clients and their families.

The Silver Tsunami arrived on January 1, 2011 according to The New York Times, The Economist and other news agencies.    Now, with 10,000 Americans turning 65 every day for the next 16 years, talking about and planning for retirement and senior care is critical. With home equity falling, social security at risk, savings reduced and the cost of caring for ailing parents rising, American’s are still afraid to talk about it or don’t know how to begin this conversation.  

It’s time to stop being afraid and talk. Families are not alone.  Help and advice is available.

Enter the Elder Ed Players.  With wit and wisdom, the Elder Ed Players presents “What To Do When Life Happens or Reality Does Not Have To Bite” a series of funny yet compelling skits that highlight the true life dilemmas that American families are facing in record numbers.  A panel discussion will follow, where the audience can get important questions answered by the experts.

Premier Event:

 “What To Do When Life Happens or Reality Does Not Have To Bite”

5 Skits and Collection of Experts Panel

Weds, March 30, 2011

1-2:30 pm

Villa San Ramon

9199 Fircrest Ave

San Ramon, CA  94583

Editor Note:  Points of Life Team Founders, Richard Wexler, Marilyn Ellis, Steven Shagrin and James Galinksy are available for interviews.

Online Press Kit:  www.pointsoflife.org

Media Contact:

Richard Wexler   925.820.1190   rwexler@agoldenhand.com