WARNING! DO NOT HIRE A MORTGAGE BROKER UNTIL YOU READ THIS FREE REPORT

Franco Pawlisz - Loan Advisor

Did you know that all brokers are not the same? And, if you need to get some help planning your financial future, you need to be sure about whom you're dealing with before you make any moves. Most people really don't know what questions to ask or what things they should be aware of. When it comes to your mortgage, you had better know.

Picking the right broker can be wonderful, but picking the wrong one can be a big mistake.

In today's economy, you cannot afford to take any chances with the wrong advice or the wrong mortgage broker.

FREE REPORT

We have prepared a free report called "The Nine Things Your Mortgage Lender Won't Tell You Before You Hire Them!" To get a free copy of this report, CLICK HERE, 24 hours a day, for a free automated response. Click NOW...and find out the questions most agents would prefer you never asked them about!

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REVERSE MORTGAGE

REFINANCING

Reverse Mortgage BOOM Aids Retired Citizens

Michael Gray - V.P. AAA Reverse Mortgage Specialists Inc.

In this changing economy the stresses place upon those looking to or in retirement are becoming greater by the number. Will you have enough saved to compensate for old age? If not a Reverse Mortgage may be just what your looking for.

What Is A Reverse Mortgage?

A Reverse Mortgage is a loan against the equity in your home that provides tax-free cash advances, but requires no payments during the term of the loan. Since there are no monthly payments during the life of the loan, the balance grows larger and the equity gets smaller. The Reverse Mortgage Loan is not due and payable until you no longer occupy the home as your principal residence, i.e., the last surviving borrower sells, moves out permanently or passes away.

You must be at least 62 and own your own home or condominium in order to qualify for a Reverse Mortgage. There are no income or credit requirements to qualify. Based on the amount of benefit, which you qualify for, you may be eligible for a Reverse Mortgage even if you still owe money on your first mortgage.

There are three Reverse Mortgage Loan products available, a) FHA, HECM (Home Equity Conversion Mortgage), b) Fannie Mae HomeKeeper, and c) a Cash Account. Another benefit of these loans is that they are "non recourse" which means that no matter how high the loan balance grows, you or your heirs never owe more than the home's market value.

The proceeds from a Reverse Mortgage can be used for anything: daily living expenses; home repairs and home improvements; medical bills and prescription drugs; pay-off of existing debts; education; travel; long term health care; retirement and estate tax planning; and other needs .

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Mortgage rates fall

Jeannine Aversa - Associated Press

WASHINGTON -- Mortgage rates fell sharply this week, with the rate on benchmark 30-year mortgages dropping to its lowest level since early July.

The average rate on 30-year, fixed-rate mortgages was 5.41 percent, Freddie Mac, the mortgage giant, reported Thursday in its weekly nationwide survey of mortgage rates. This week's rate was down from 5.59 percent last week and marked the lowest rate since the week ending July 4 when rates averaged 5.40 percent.

Rates on 30-year mortgages sank to 5.21 percent in the middle of June, the lowest level in more than four decades. Since then rates have bounced up and down.

"Interest rates on 30-year, fixed-rate mortgages edged closer to last year's record low figures," said Frank Nothaft, Freddie Mac's chief economist.

For 15-year, fixed-rate mortgages, a popular option for refinancing, rates declined to 4.69 percent this week, compared with 4.88 percent last week.

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