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Julie Colangelo's Blog

Why are you afraid of a Reverse Mortgage?
Updated Oct. 9, 2013
Some consumer watch dog groups, journalists, and politicians are totally against a Reverse Mortgage. Some of these groups say it is better to sell your home and live off the proceeds. . Let me refresh your memory of what a Reverse Mortgage is:o It is a promissory note secured by a lien against your property in the form...
Isn't Your Home An Investment?
Updated Oct. 9, 2013
You work for 30 years and take part of your income to put away for emergencies, kids college, and retirement. Perhaps in the form of a savings account, stocks, 401K's or a pension plan.. You purchase a home for $200,000. You make a mortgage payment for 30 years. You pay off the mortgage. When you took out the loan you...
So, You Are Ready To Purchase Your First Home?
Updated Oct. 9, 2013
Before you contact a Realtor, know how much you qualify for, as a good Realtor will best serve you if they know you have all your ducks in a row. You want to have an exciting buying experience, not a stressful one!. Qualifying and how much you can afford are two different things. A good mortgage consultant will help you...
What's The Big Deal About Homeownership?
Updated Oct. 9, 2013
The obvious reasons are:. Neighbors.SchoolsGarage.Pets.Decorating.. Having your neighbors a driveway "away". A little bit of distance is nice. But more importantly when you choose a neighborhood to live in, you "scout" it out. Do the neighbors keep their homes in good repair? Are there loud parties every weekend?...
Why I got a Reverse Mortgage
Updated Oct. 9, 2013
Why I got a Reverse Mortgage (Home Equity Conversion Mortgage). "I have a few observations on this topic, based on my 13+ years as a HECM originator, and the fact that I am myself a HECM borrower who does make payments on his HECM, and thus receives notice of interest and MIP paid. For the life of me I cannot understand...
Is Your Retirement Dream Turning Into a Nightmare?
Updated Oct. 9, 2013
Remember the excitement of getting married, growing your family, and planning your Retirement Dream?. Whether you planned well or not, there are just some forces you cannot control (the economy). At age 65 when most people "plan" to retire, they find that they may have to work longer.. Why?. Retirement assets...
Purchase: Reverse Mortgage vs Conventional Loan
Updated Oct. 24, 2014
What is the difference between a Reverse Mortgage Loan and a Conventional Loan?. First let me explain that a Reverse Mortgage whether a refinance on your current home or a purchase money loan on a new home is exactly the same as having a conventional "forward" mortgage lien on your home.. Your home is not a liquid...

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