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I wanted to let you know about some dramatic changes in the federal government senior Home Equity Conversion Mortgage (HECM) program, which are commonly called Reverse Mortgages or the FHA insured reversed mortgage program. Many of you have heard me talk about the great benefits this program offers in the past for seniors aged 62 or older who want access to their home equity without having to sell or leave their homes.

This program was first launched under President Ronald Reagan to assist senior homeowners pay off their mortgages and other debts. It also allows seniors to take out cash for any reason including long term health costs, home improvements or to supplement their monthly income. In the past, the loan approval process was simply based on these factors: Your age and the value of your home. There was no requirement to prove your level of income or creditworthiness. Even if you had credit issues including a bankruptcy or foreclosure in the past, you could still get a reverse mortgage.

Staring March 3rd , all that is going to change. If you apply after that date you will be approved for a reverse mortgage based on your income, debts and credit rating. If your credit or income as shown on your tax return is not sufficient to meet the new guidelines set by FHA, the reverse mortgage lender will be required to hold back some of your loan proceeds to pay for future property taxes and property insurance. This might lower the amount you receive from a reverse mortgage by a large amount. Experts estimate that as many as 30% of the people who are now eligible for a reverse mortgage will no longer qualify after these new rules go into effect.

There is still time to apply under the existing guidelines, but you have to move fast. If you are interested in getting information on reverse mortgages and how they may be able to help you, I urge you to contact United Mortgage Bankers at www.smartmoneyreverse.com or call them at 855-979-0502 or 631-396-1809 and ask for Russell Silver.
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Achieving financial security in your retirement years has never been more important. The key to achieving a financially secure retirement is to start early. The younger you begin, the more you capitalize on your biggest ally: time.

Massive changes in society mean that more people than ever before in human history will live in retirement for longer periods of time. The only solution to the coming retirement crunch is to understand your options, plan carefully to meet your goals and follow through on your plan.

You can learn to micro-manage your funds so that your money multiplies itself. Use the techniques and tips and action strategies included here in combination with those included in the other sections and watch your money grow.

Read on and reap the financial rewards!
READ ARTICLE
Achieving financial security in your retirement years has never been more important. Massive changes in society mean that more people than ever before in human history will live in retirement for longer periods of time. The only solution to the coming retirement crunch is to understand your options, plan carefully to meet your goals and follow through on your plan.

You can learn to micro-manage your funds so that your money multiplies itself. Use the techniques and tips and action strategies included here in combination with those included in the other sections and watch your money grow.

Read on and reap the financial rewards!
READ ARTICLE
Each section of this report contains useful tips, techniques and action strategies that you can implement right away. Combined together, these tips and strategies are designed to help you learn how to micro-manage your funds so that your money multiplies itself.
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As you go through life, you have various financial rights and responsibilities at different ages. Perhaps you or someone you know will have one of these birthdays sometime this year, so you should know what to expect.
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Whether you work for a large or small company, a nonprofit organization, a for-profit firm, or a government agency, the package of employee benefits available to you is crucial in putting together your personal financial plan.
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