Ventana Home Loans Introduction

Welcome to Ventana Home Loans. My name is Lori Cable. I am president as well as a loan officer here at Ventana Home Loans. I’’ will also be the host of our show. We will be covering all things mortgages for those that are 55 plus. 

You may be asking, “Why 55 plus, Lori?” That’s because there are specific programs designed for those that are 55 plus. We all know that as we get closer to retirement age or are at retirement age, having our finances in order is extremely important. This includes our home mortgage.

So stick around, ask questions, leave comments below, and let us know if there’s anything that you’d like for us to cover. We look forward to hearing from you. Have a great day.

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The first reverse mortgage was issued in 1961 in Portland, Maine. 

Over the years, many safeguards have been established. Increased legislation and protections making reverse mortgages a good option for many borrowers. 

Here is a list of those safeguards:
1989 - The first FHA insured Reverse Mortgage (HECM) was issued.
2008 - The SAFE Act is passed, enhancing consumer protections and reducing fraud by setting standards for the licensing and registration of mortgage loan originators.
2012 - Independent counseling requirement updated, ensuring borrowers understand how reverse mortgages work from a government-approved third party.
2013 - HUD creates new safeguards on HECM loans, including max-claim equity limits and limiting the amount of equity borrowers can access in their first year.
2014 - Proprietary products introduced, unlocking more financial options for borrowers and more equity from high-value homes. Not all FHA guidelines and protections apply to proprietary products.
2014 - Non-borrowing spouse (NBS) protection established, allowing non-borrowing spouses to remain in the home after a reverse borrower passes away.
2015 - Financial assessment requirement established, ensuring that reverse mortgages are deemed suitable long-term solutions for borrowers before lending is allowed.
2018 - Second appraisals established, protecting against misappraisals of home values.

 #reversemortgage #RetirementPlanning #HECM #CashOutRefi #lineofcredit #Refinance #purchase #retirement #homeloans #refinance

The first reverse mortgage was issued in 1961 in Portland, Maine.

Over the years, many safeguards have been established. Increased legislation and protections making reverse mortgages a good option for many borrowers.

Here is a list of those safeguards:
1989 - The first FHA insured Reverse Mortgage (HECM) was issued.
2008 - The SAFE Act is passed, enhancing consumer protections and reducing fraud by setting standards for the licensing and registration of mortgage loan originators.
2012 - Independent counseling requirement updated, ensuring borrowers understand how reverse mortgages work from a government-approved third party.
2013 - HUD creates new safeguards on HECM loans, including max-claim equity limits and limiting the amount of equity borrowers can access in their first year.
2014 - Proprietary products introduced, unlocking more financial options for borrowers and more equity from high-value homes. Not all FHA guidelines and protections apply to proprietary products.
2014 - Non-borrowing spouse (NBS) protection established, allowing non-borrowing spouses to remain in the home after a reverse borrower passes away.
2015 - Financial assessment requirement established, ensuring that reverse mortgages are deemed suitable long-term solutions for borrowers before lending is allowed.
2018 - Second appraisals established, protecting against misappraisals of home values.

#reversemortgage #retirementplanning #HECM #CashOutRefi #lineofcredit #refinance #purchase #retirement #homeloans #refinance
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2 days ago
For the last two years Finance of America Reverse LLC (FAR) has surveyed U.S. homeowners about their financial confidence, home equity, and living comfortably in retirement. 
 
And for the second year, retirees place importance on making their current home their forever home. 
 
Findings: Retirees Want to Live in Their Home Forever 
88% of retirees are interested in staying in their current home throughout retirement.
 
About 10% of U.S. homes are “aging-ready,” meaning the home has a step-free entryway, a first-floor bathroom and bedroom, and at least one bathroom accessibility feature, such as a grab bar or shower seat*

 #HECM #Refinance #lineofcredit #homeloans #SecureFuture #reversemortgage #HomeEquity #FinancialFreedom #ReverseMortgage #RetirementGoals #HomeSweetHome #refinance #retirement

For the last two years Finance of America Reverse LLC (FAR) has surveyed U.S. homeowners about their financial confidence, home equity, and living comfortably in retirement.

And for the second year, retirees place importance on making their current home their forever home.

Findings: Retirees Want to Live in Their Home Forever
88% of retirees are interested in staying in their current home throughout retirement.

About 10% of U.S. homes are “aging-ready,” meaning the home has a step-free entryway, a first-floor bathroom and bedroom, and at least one bathroom accessibility feature, such as a grab bar or shower seat*

#HECM #Refinance #lineofcredit #homeloans #SecureFuture #reversemortgage #HomeEquity #FinancialFreedom #ReverseMortgage #RetirementGoals #HomeSweetHome #refinance #retirement
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5 days ago