A few weeks ago, the Marketing Department at St. Paul’s Towers, a CCRC/Life Care facility in Oakland, asked me to speak to a group of potential residents about what is really going on in the real estate market in the East Bay. Many of the people considering moving to St. Paul’s need to sell their [...]
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There is a new reverse mortgage program for senior which became available in January as part of the financial stimulus package which Congress passed last fall. This program is called HECM for Purchase. HECM stands for Home Equity Conversion Mortgage. This program enables seniors to purchase new homes and never make another mortgage payment.
Borrowers [...]
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