Competition Can Be High for Foreclosures

Wow!! Over the past 3 weeks or so I have seen as many as 10 offers on a single foreclosure! Seems some of the asset management companies are being very aggressive on the list price. Offers exceeding that list price are not uncommon. I am advising my clients that if they have an interest, don’t delay in following thru on their plans as some homes are really in pretty decent condition.

Reverse Mortgage

Has anybody have any experience with Reverse Mortgages?

* “Reverse Mortgages are becoming popular in America. The U.S. Department of Housing and Urban Development (HUD) created one of the first. HUD's Reverse Mortgage is a federally-insured private loan, and it's a safe plan that can give older Americans greater financial security. Many seniors use it to supplement social security, meet unexpected medical expenses, make home improvements, and more.”
This looks like a wonderful and extremely timely program for those friends or family members of yours that are having a tough time making ends meet. I first read about this some 5 years ago. Obviously it has gained in popularity and use. It also appears to be well regulated and overseen with plenty of awareness. Whether the cost is taxes, insurance, energy, medical or just supplemental the answer may be in this program. While I am not the expert, I can put you in touch with the information you way need. I am getting a DVD and some brochures sent to me.
“ *From theU.S. Department of Housing and Urban Development website