Many senior homeowners have lived in their homes for a very long time, have no desire to move and have gotten reverse mortgages so that they can continue to live in their homes payment free for life while accessing their equity to help supply them with income or cash to meet their living needs. Still others have wished that they could relocate, choosing either to be nearer to loved ones or pick a property that was more conducive to their current life style or needs (such as a single story when their home of many years was a multi-level property, one that was a more appropriate size for their current needs, closer to their family or friends, or located in a senior community).

For these active seniors who were not ready to move into assisted living and yet did not want to stay in their current properties, it used to be that they could only use a reverse mortgage to purchase the new home they desired if they used one of the few higher interest rate, proprietary-type programs which allowed for home purchases. It looks like this is about to change!

The current bills in congress are going to change the way the FHA does business with many of its loan programs, but one of the changes that appears to be approved by both the House and the Senate concerns the addition of allowing the government Home Equity Conversion Mortgage (HECM or Heck-um) to now allow for purchases as well as refinances of existing homes. There are many other changes being proposed as well that will probably go into effect very soon that we won’t discuss here but this one change alone is exciting because as soon as the changes are signed into law and become effective with the FHA, senior borrowers will be able to purchase the home that suits their needs by using a reverse mortgage, and not have to rely on conventional financing.

This is important for a number of reasons. Firstly, there is no income or credit qualification requirement for the reverse mortgage. Borrowers with limited and fixed incomes typically don’t qualify for conventional financing. Borrowers who needed to move or had a strong desire due to any of the reasons listed above, often had no alternatives unless they could purchase their new home for cash due to conventional financing qualification.

These borrowers most often made due in their present situations even though they really desired to make a move that would either make their lives so much easier or fulfilling. After the government reverse mortgages are made available for purchases, senior homeowners will have a real, viable option to be able to make choices about where they will live that weren’t previously readily available to them.

The Stimulus Bill is expected to be signed into law by the President next week. Once the new provisions to the reverse mortgages are put into place by HUD, seniors will be able to utilize reverse mortgages for home purchases. Those seniors who have been thinking about how nice it would be to move into a home but always thought that there was no way they could qualify for (let alone make the payments on) a conventional loan, watch for the new provisions for government-insured reverse mortgages which should be available for purchases soon.

Michael G. Branson (CEO All Reverse Mortgage Company)is a Mortgage Broker who has over 31 years of mortgage banking experience. Toll Free (888) 801-2762

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‘No Risk; No Reward’ was the tagline for a boxing match between James Toney and Samuel Peter. And it reminded me-copywriting is a lot like boxing.

At first blush it may sound ridiculous to compare a hard-slugging athlete primed for pain to a solitary marketer pecking away at the keyword. But there actually are many similarities. Let me explain:

1) Both require a strong mental game.

If a boxer is not mentally prepared, he is toast. He can be his own worst enemy in the ring as he stops punch after punch with his face. Same with marketers. Just try to work on your marketing when you are not in the mood. Tough, ain’t it? The words come out all wrong. Your marketing is dull, limp, and lifeless. So your sales suffer. It is all on you to keep your head in the game.

2) Both require systematic training.

Sure a boxer can study tapes of former fights and talk to other boxers over time about what they did to become champions. But sooner or later without an effective coach to show him how to eat, how often to work out, what exercises to do and so on, the chances of being a winner are slim to none. Learning to effectively market and write copy can also be learned by studying the masters and talking to other marketers - eventually. But it will take years of heartache and mistakes. It is so much easier to follow a system that already works for someone who has been there so you can avoid the pitfalls.

3) Both require decisive action.

At the end of the day, you are the RESULT of what you have put into your goals. In other words, everything you are today is because of choices you made in your past. Those decisions all added up to whatever your station in life is today. Whether you are a boxer by himself in the ring, or a copywriter putting together a kick-butt marketing campaign, to get results, you must decide what you want first, then go get it! You cannot just HOPE for results. No matter what your goals, you must take action and put in your training time.

There aren’t any shortcuts.

Award-winning copywriter Lorrie Morgan-Ferrero is President of Red Hot Copy and among an elite group of the finest copywriters in the industry. Lorrie loves inspiring and motivating entrepreneurs and copywriters how to stoke those burning fires of your business. Download your complimentary Special Report, *7 Deadly Mistakes Entrepreneurs Make with Their Promotional Web Copy* now at http://www.redhotcopy.com