If you are 62 years of age or greater and want to eliminate your monthly mortgage payment or receive additional tax-free cash, Gateway Funding Diversified Mortgage Services LP has a solution for you using the equity contained in your home.
Horsham, PA – Rising unemployment, the decline in the stock market and decreasing home values have impacted the lives of many Americans. This is especially true of senior citizens who live on fixed incomes and have lost a substantial portion of their retirement funds in the stock market.
Gateway Funding Diversified Mortgage Services LP offers FHA reverse mortgages as a solution that can provide tax-free cash to senior homeowners.
A reverse mortgage is a special type of mortgage loan where we convert your home’s equity into tax-free cash. So, unlike a traditional mortgage where you are making payments to the lender each month, with a reverse mortgage, the lender is making payments to you each month. The size of the payments depends on how much equity you have in the home, the appraised value of the home, interest rates and your age (62 or greater); the older you are, the more cash you receive. You can receive payments in the form of a lump sum, monthly installments, a line of credit or a combination of these methods.
Repayment of the reverse mortgage only takes place when homeowner permanently moves out of the home. All FHA reverse mortgages are non-recourse loans, meaning that in the event the loan balance exceeds the value of the home, there is no personal liability to the borrower or their heirs. A borrower never owes more than the value of their home. Any amount due in excess of the home’s value will be forgiven,” says an expert at Gateway Funding Inc. Upon leaving your home, the loan balance plus accrued interest becomes due and payable; that repayment may be made from the proceeds of selling the home.
The Wall Street Journal recently reported in the months of March and April that the number of reverse mortgages has seen a steep rise of 20% compared to the statistics recorded last year at the same time. Once a homeowner obtains a reverse mortgage, their only obligations are to pay real estate taxes, pay homeowners insurance and to keep the property in good condition.
While reverse mortgages are typically used to provide a lump sum of cash or increase monthly cash flow, they can even be a viable option for seniors facing foreclosure or bankruptcy.
Yesterday, a new reverse mortgage product called the “HECM Saver” was introduced; this product drastically reduces the closing costs of a reverse mortgage making them an attractive option for even more seniors.
Gateway Funding utilizes a multi-investor platform enabling the company to provide consumers with a diverse array of both fixed and adjustable rate reverse mortgage products from leading financial companies throughout the U.S.
About Gateway Funding:
Gateway Funding Diversified Mortgage Services, LP, established in 1994, is one of the largest privately-held mortgage companies in the United States. Gateway Funding is licensed in most states and has office locations across the country to serve you in your mortgage, home finance, refinance and reverse mortgage requirements. Gateway Funding recognize the challenges their clients and borrowers face today and are determined to find the best possible solution for their customer’s current financial needs.
Voyager Introduces VPiX HD Tours and iHotels 360 — A 42-Inch Interactive Flat Panel TV for Hotel and Resort Lobbies
Voyager International, the World’s leading provider of HD Virtual Tour services and equipment announced today the adoption of VPiX HD by several national hotel / resort chains. Voyager also announced iHotels 360; A 42-inch, wall mounted information touch screen panel featuring an interactive tour of the hotel/resort and local businesses.
Santa Fe, NM – Voyager International announced their selection recently by Wyndham Resorts to begin shooting their 82 resort locations using Voyager’s VPiX HD Tour Services.
“Hotels and Resorts are pretty excited about our High Definition (HD) virtual tour technology and on-site panoramic services,” said Bart Wilson, Chief Marketing Officer at Voyager International. “We’ve just started the Wyndham Resorts in Florida, followed by California and then 7 more resorts in Hawaii.
Zachary Cornwell, a VPiX-certified photographer is currently shooting the Sheraton Hotel Denver Downtown location now. The Hyatt Summerfield in Texas was taken by VPiX certified photographer Paige McFadden.
Mary Sloan recently photographed the Honua Kai Resort and Spa in Hawaii. Omar Salinas is another VPiX certified photographer and was on loan to United Airlines and photographed hotels and resorts throughout South America including the famous Salt Resort Hotel in Bolivia”
“VPiX HD is a real breakthrough in 360-degree virtual tours,” says Beverly Kinnisto, Channel Sales Manager at Voyager. “No more tiny, Java-based tours. VPiX HD is full-screen, jaw dropping WoW when you see them. VPiX HD is also available in iPhone and iPad flavors, too. Hotels, resorts and many businesses are seeing 28 to 32% of their traffic come from users with iPhones, iPads and Droid SmartPhones. As a result Java based virtual tours and flash tours offered by firms such as RealTourVision and others simply won’t run on these mobile devices. VPiX HD tours run great on iPhones and iPads and recently blew the socks off Wyndham’s team when we showed it to them.
The iHotels 360 flat panel showcases VPiX HD tours of the resort or hotel along with local attractions, weather conditions and more. People touch the 3D radar push pins on maps and floor plans and explore interactive, 360 X 360 panoramic views of the hotel, rooms, restaurants and things to do and see in the local area.
The right panel displays local weather, and coupons for local restaurants and stores. Local REALTOR offices show interactive slide shows and HD tours of homes in the area, too. Advertising revenues generated from the local business community are shared with the hotel which allows the iHotels 360 panel to literally pay for itself in just a few months.”
“We’ve had a lot of hotels and resorts asking for the iHotels 360 flatscreen panel even though we’ve only installed a handful at a few national test sites,” adds Bart Wilson. “Barry Black is our Product Marketing Manager and is heading up sales for the iHotels 360 TV panels.”
Voyager is currently looking for contract professional photographers to get certified on the VPiX HD system to help with our increased demand. “We have hotels / resorts, RV dealers, retail businesses and high end luxury home REALTORS asking for VPiX HD tour photographers,” adds Beverly Kinnisto.
“Ideal candidates should have their own digital SLR Nikon or Canon, an 8mm fish eye lens and a rotator. Once they are VPiX certified, we can then get them to service our national accounts. Interested photographers should contact Voyager if they’re looking for high-paying contract work in the $1,100 to $3,000 range.”