Reverse mortgage private lenders

Locked into the mortgage

Update: Proprietary / Private Company mortgage loans served their purpose very well during 2006 - 2008. Due to the recent economic downturn and credit crunch as well as the newly raised HECM reverse mortgage loan limit, the Proprietary / Private Company reverse mortgages are practically obsolete. Government backed HECM loans have now completely taken their place. HECM reverse mortgages have much higher loan limits then they used to, use our loan calculator to see how much you can get.


After researching the subject a little most people will become aware that there are both federal-backed HECM loans as well as proprietary reverse mortgage or private reverse mortgages. For many seniors, HECM reverse mortgages seem to be the obvious choice – it's invariably more affordable than the proprietary reverse mortgages being offered by private reverse mortgage companies.

Proprietary reverse mortgage programs aren't really that bad. HECM reverse mortgage loans are just simply more popular. Private reverse mortgage companies, of course, have their own legion of fans. The more important question to ask then is really when you should use a proprietary reverse mortgage or private reverse mortgages as opposed to HECM.

• For bigger cash payouts

The main downside to HECM reverse programs is that the Federal Housing Authority (FHA) has a lending limit that varies from county to county. This means that you can't get 100% on the equity of your home. You can get jumbo reverse mortgages with private a private propriety program. Jumbo mortgages are reverse mortgages in amounts greater than what the FHA is willing to insure.

• For higher value homes

Seniors with substantial equity on their homes or seniors with high value homes are better off approaching private companies if they want to take out a reverse mortgage loan. That's because they can certainly get more money for their equity.

Cutting a reverse mortgage deal with a private company can also prove to be more convenient for seniors. With these companies, you are not required to undergo counseling with a reverse mortgage counselor before you can apply for a loan.

Less sanctimonious take on EU crisis

2011-07-07 15:04:36 by Tek_Jansen

Spain has received most of the attention, thanks to its ten-million strong turnout – reportedly half the entire labor force. Holding its first general strike since 2002, Spanish labor protested against its socialist government using the bank crisis (stemming from bad real estate loans and negative mortgage equity, not high labor costs) as an opportunity to change the laws to enable companies and government bodies to fire workers at will, and to scale back their pensions and public social spending in order to pay the banks more. Portugal is doing the same, and it looks like Ireland will follow suit – all this in the countries whose banks have been the most irresponsible lenders

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Wiley Reverse Mortgages and Linked Securities: The Complete Guide to Risk, Pricing, and Regulation (Wiley Finance)
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  • Avatar Melinda H Where can I find a Reverse Mortgage lender in Texas?
    Aug 03, 2006 by Melinda H | Posted in Other - Business & Finance

    I have a home in San Antonio, TX on which I have quiet a bit of equity. I would like to get a HECM Reverse Mortgage and need a lender that specializes in Reverse Mortgages in Texas.

    • Hi, you can go to and visit that website to find a Reverse Mortgage lender in San Antonio or Texas.