Reverse Mortgage Calculators – Warning about HECM calculators online

A Home Equity Conversion Mortgage (HECM) for Purchase is a reverse mortgage that allows seniors, age 62 or older, to purchase a new principal residence using loan proceeds from the reverse mortgage. real estate professionals who are interested in learning more about HECM for Purchase can download free resources from NRMLAonline.org

Today, more than 30 million families own condominiums. In many of the major metropolitan areas, it is the dominant housing option. While it can be difficult, if not impossible, to get a HECM on a condo if the property isn’t already FHA approved, the burgeoning market for proprietary reverse mortgages creates new opportunities.

Ibis has been providing online reverse mortgage tools since 1999 and PC-based reverse mortgage tools since 1992. HUD and Ibis hereby restrict the use of this calculator to noncommercial purposes. Counselors may use this calculator to generate loan estimates, but may not sell this information in whole or in part to any party.

Gonzalo Contreras – Alterra Home Loans See more of Alterra Home Loans on Facebook. Log In. or. Create New Account. See more of Alterra Home Loans on Facebook. Log In. forgot account? or. Create New Account. Not Now. alterra home Loans is with Better Homes and Gardens Real Estate..The Home Equity Theft Reporter: Connecticut AG Files Suit Against Out-Of-State Company Running Allegedly Bogus Upfront Fee Loan Modification Scam file a complaint with the FBI's Internet Crime Complaint. Center at. car leasing companies, and even the IRS out of millions of dollars. who agreed to sell had to pay an upfront fee-anywhere. with your state attorney general's office and the IC3.. flipping, equity skimming, loan modification schemes,

and they don’t hear about it in HECM advertisements," Guttentag writes on his website, The Mortgage Professor. "The industry is focused on the all-cash option, because it is easier to explain, easier.

How to Select a Tampa Mortgage Broker mary theresa rhodes branch manager / Loan Originator | nmls #354036 mt. dora The mortgage firm mortgage Professional Reviews Mary Theresa Rhodes Branch Manager / Loan Originator | NMLS #354036 Mt. Dora The mortgage firm mortgage professional reviews Thirty years in the mortgage business, and with The Mortgage Firm, Inc. since 1996.”Many people have renegotiated sale prices” as a result of this, says Tracie Golding, a licensed associate real estate broker.

Calculate your loan now at reverse.mortgage/calculator or visit our local Arizona page at reverse.mortgage/lenders/arizona. Serving all of. Visit us online at reverse.mortgage/lenders/san-francisco. Serving all. carlos trevino fha, HECM, Reverse Mortgage Specialist.. Jim Warns ~ Retirement Funding Solutions, Inc.

How to use the HECM Reverse Mortgage Calculator The reverse mortgage program is also known as HECM, or a home equity conversion mortgage. The HECM program is insured by the Federal Housing Administration. Options for this loan program allow home owners to use a portion of the equity in their home as cash for expenses or toward the purchase of a new home.

Reverse mortgages offer flexibility to help make other retirement resources last, he says. You can continue living in your home or buy your next one without a monthly mortgage payment (for more about.

The HECM Calculator and the FHA Reverse Mortgage Calculator. Many seniors who are interested in taking out a reverse mortgage often get confused when lenders begin talking about home equity conversion mortgages and FHA reverse mortgages. In this section, we will clear up the confusion behind these acronyms.