| Silver Hill(R) Unveils Alliance Program With Rewards and ...
MIAMI, March 29 /PRNewswire/ -- Silver Hill Financial, LLC (http://www.silverhillfinancial.com/), a leading national real estate lender specializing in small-balance commercial loans, has unveiled its new Alliance Program with value-added benefits reserved for its premier mortgage broker clients. With tiered levels of Orange, Silver and Platinum Status, Silver Hill's Alliance Program enhances the small-balance commercial experience for top-producing clients and rewards them for their loyalty. Any mortgage broker registered with Silver Hill is eligible for the Alliance Program upon meeting criteria based on number of loans or volume closed with Silver Hill. The Alliance Program offers incentives such as enhanced, customizable marketing support; greater involvement in the processing and closing functions; support from a dedicated Silver Hill team member; preferred pricing; customized training; and accelerated Silver Star Rewards(SM) points.
A turbulent time, but stocks recover
Was it worries over the nation's housing recession and the unraveling of the subprime mortgage industry? A stray comment by former Federal Reserve Chairman Alan Greenspan that resonated around the world? Rising oil prices that stoked inflation fears? Or just a bull market that had grown long in the tooth and was due for a pullback? Market watchers gave all of those reasons for the sharp drop in stock prices in late February and early March, ending a climb that began last summer. Though stocks gained back much of that ground, the major market indices ended the first quarter more or less where they started, with either small gains or small losses. "It's kind of a Rip Van Winkle effect," said Andrew Loechl, a principal at Seattle's Eagle Harbor Asset Management. "If you fell asleep in January and woke up today, you wouldn't think much had happened." On March 30, the last day of the quarter, market activity encapsulated much of the turmoil of the entire quarter, as stocks rose, dropped and then recovered.
A Primer On Reverse Mortgages
Economists report that as housing prices have skyrocketed over the past several years, the amount of money that households are saving through 401(k) plans and FDIC insured savings accounts has fallen. For many people approaching retirement age that means they may be "equity rich" and "cash poor" at the same time. It is not unusual today to find people living in $1 million homes almost entirely dependent on social security to get by. A 1994 Advisory Council on Social Security trends and issues concluded that reverse mortgages could provide an additional source of income for seniors although at the time housing prices were not high enough to make this a meaningful source. Well, things have changed. A reverse mortgage is still a loan with your house as the collateral, but it is entirely different from the kind of mortgage you got when you bought your first house.
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