Real Estate Agent

Scottsdale Real Estate, Arizona Golf Properties, Phoenix and Carefree Real Estate Listings Arizona Real Estate by Judy Brickman With 18 years of experience in real estate, Judy Brickman specializes in golf course properties , Arizona luxury homes , vacation home rental and sale, second homes and residential lots in northeast Scottsdale and Carefree. With her expertise in real estate in Scottsdale, Arizona and the surrounding area, she is an excellent resource when buying or selling your home! With special emphasis on such areas as The Boulders , Desert Mountain, Estancia, Mirabel, Desert Highlands, Whisper Rock, Troon, DC Ranch, Terravita, Grayhawk and Legend Trail, Carefree and Pinnacle Peak you will be able to view the broad spectrum of real estate available ranging from luxury Arizona golf properties to regular Phoenix, Carefree, and Scottsdale real estate. Combining extensive knowledge of the Arizona real estate marketplace with a dedicated commitment to service, Judy Brickman welcomes the opportunity to work with you in locating your dream home or lot, or in marketing your property. When searching for Real Estate in Scottsdale, Arizona , Phoenix homes for sale, or other Arizona real estate - Judy Brickman is truly your number one option! Welcome to Arizona Real Estate | About Judy Brickman | Contact Judy Arizona Real Estate Listings | Golf Properties | The Boulders Resort | Arizona State Information Buyers Questionnaire | Sellers Questionnaire | Real Estate Links | Site Map Internet Marketing by VKI Studios

Real Estate Brokers and

Real estate brokers and sales agents Skip Navigation Links Latest Numbers U.S. Department of Labor Bureau of Labor Statistics Occupational Outlook Handbook www.bls.gov Search the Handbook BLS Home | OOH Home | Frequently Asked Questions | A-Z Index | Contact Us Printer-friendly version ( HTML ) -- PDF ) -- Real Estate Brokers and Sales Agents Nature of the Work Working Conditions Training, Other Qualifications, and Advancement Employment Job Outlook Earnings Related Occupations Sources of Additional Information Significant Points Real estate brokers and sales agents often work evenings and weekends and usually are on call to suit the needs of clients. A license is required in every State and the District of Columbia. Although gaining a job may be relatively easy, beginning workers may face competition fromwell-established, more experienced agents and brokers in obtaining listings and in closing an adequate number of sales. Employment is sensitive to swings in the economy, especially interest rates; during periodsof declining economic activity and increasing interest rates, the volume of sales and the resultingdemand for sales workers fall. Nature of the Work [ About this section ] Back to Top One of the most complex and significant financial events in peoples lives is the purchase or sale of a home or investment property. Because of this complexity and significance, people typically seek the help of real estate brokers and sales agents when buying or selling real estate. Real estate brokers and sales agents have a thorough knowledge of the real estate market in their communities. They know which neighborhoods will best fit clients needs and budgets. They are familiar with local zoning and tax laws and know where to obtain financing. Agents and brokers also act as intermediaries in price negotiations between buyers and sellers. Real estate agents usually are independent sales workers who provide their services to a licensed real estate broker on a contract basis. In return, the broker pays the agent a portion of the commission earned from the agents sale of the property. Brokers are independent businesspeople who sell real estate owned by others; they also may rent or manage properties for a fee. When selling real estate, brokers arrange for title searches and for meetings between buyers and sellers during which the details of the transactions are agreed upon and the new owners take possession of the property. A broker may help to arrange favorable financing from a lender for the prospective buyer; often, this makes the difference between success and failure in closing a sale. In some cases, brokers and agents assume primary responsibility for closing sales; in others, lawyers or lenders do. Brokers supervise agents who may have many of the same job duties. Brokers also supervise their own offices, advertise properties, and handle other business matters. Some combine other types of work, such as selling insurance or practicing law, with their real estate business. Besides making sales, agents and brokers must have properties to sell. Consequently, they spend a significant amount of time obtaining listings—agreements by owners to place properties for sale with the firm. When listing a property for sale, agents and brokers compare the listed property with similar properties that recently sold, in order to determine a competitive market price for the property. Once the property is sold, both the agent who sold it and the agent who obtained the listing receive a portion of the commission. Thus, agents who sell a property that they themselves have listed can increase their commission. Most real estate brokers and sales agents sell residential property. A small number—usually employed in large or specialized firms—sell commercial, industrial, agricultural, or other types of real estate. Every specialty requires knowledge of that particular type of property and clientele. Selling or leasing business property requires an understanding of leasing practices, business trends, and the location of the property. Agents who sell or lease industrial properties must know about the regions transportation, utilities, and labor supply. Whatever the type of property, the agent or broker must know how to meet the clients particular requirements. Before showing residential properties to potential buyers, agents meet with them to get a feeling for the type of home the buyers would like. In this prequalifying phase, the agent determines how much the buyers can afford to spend. In addition, the agent and the buyer usually sign a loyalty contract which states that the agent will be the only one to show houses to buyers. An agent or broker then generates lists of properties for sale, their location and description, and available sources of financing. In some cases, agents and brokers use computers to give buyers a virtual tour of properties in which they are interested. With a computer, buyers can view interior and exterior images or floor plans without leaving the real estate office. Agents may meet several times with prospective buyers to discuss and visit available properties. Agents identify and emphasize the most pertinent selling points. To a young family looking for a house, they may emphasize the convenient floor plan, the areas low crime rate, and the proximity to schools and shopping centers. To a potential investor, they may point out the tax advantages of owning a rental property and the ease of finding a renter. If bargaining over price becomes necessary, agents must follow their clients instructions carefully and may have to present counteroffers in order to get the best possible price. Once both parties have signed the contract, the real estate broker or agent must make sure that all special terms of the contract are met before the closing date. For example, the agent must make sure that the mandated and agreed-upon inspections, including that of the home and termite and radon inspections, take place. Also, if the seller agrees to any repairs, the broker or agent must see that they are made. Increasingly, brokers and agents are handling environmental problems as well, by making sure that the properties they sell meet environmental regulations. For example, they may be responsible for dealing with lead paint on the walls. While loan officers, attorneys, or other persons handle many details, the agent must ensure that they are carried out. Working Conditions [ About this section ] Back to Top Advances in telecommunications and the ability to retrieve data about properties over the Internet allow many real estate brokers and sales agents to work out of their homes instead of real estate offices. Even with this convenience, much of the time of these workers is spent away from their desks—showing properties to customers, analyzing properties for sale, meeting with prospective clients, or researching the state of the market. Agents and brokers often work more than a standard 40-hour week. They usually work evenings and weekends and are always on call to suit the needs of clients. Although the hours are long and frequently irregular, most agents and brokers have the freedom to determine their own schedule. Consequently, they can arrange their work so that they can have time off when they want it. Business usually is slower during the winter season. Training, Other Qualifications, and Advancement [ About this section ] Back to Top In every State and the District of Columbia, real estate brokers and sales agents must be licensed. Prospective agents must be high school graduates, be at least 18 years old, and pass a written test. The examination—more comprehensive for brokers than for agents—includes questions on basic real estate transactions and laws affecting the sale of property. Most States require candidates for the general sales license to complete between 30 and 90 hours of classroom instruction. Those seeking a brokers license need between 60 and 90 hours of formal training and a specific amount of experience selling real estate, usually 1 to 3 years. Some States waive the experience requirements for the brokers license for applicants who have a bachelors degree in real estate. State licenses typically must be renewed every 1 or 2 years; usually, no examination needs to be taken. However, many States require continuing education for license renewals. Prospective agents and brokers should contact the real estate licensing commission of the State in which they wish to work in order to verify the exact licensing requirements. As real estate transactions have become more legally complex, many firms have turned to college graduates to fill positions. A large number of agents and brokers have some college training. College courses in real estate, finance, business administration, statistics, economics, law, and English are helpful. For those who intend to start their own company, business courses such as marketing and accounting are as significant as courses in real estate or finance. Personality traits are equally as important as ones academic background. Brokers look for applicants who possess a pleasant personality, are honest, and present a neat appearance. Maturity, good judgment, trustworthiness, and enthusiasm for the job are required in order to encourage prospective customers in this highly competitive field. Agents should be well organized, be detail oriented, and have a good memory for names, faces, and business particulars. Those interested in jobs as real estate agents often begin in their own communities. Their knowledge of local neighborhoods is a clear advantage. Under the direction of an experienced agent, beginners learn the practical aspects of the job, including the use of computers to locate or list available properties and identify sources of financing. Many firms offer formal training programs for both beginners and experienced agents. Larger firms usually offer more extensive programs than smaller firms. More than a thousand universities, colleges, and junior colleges offer courses in real estate. At some, a student can earn an associates or bachelors degree with a major in real estate; several offer advanced degrees. Many local real estate associations that are members of the National Association of Realtors sponsor courses covering the fundamentals and legal aspects of the field. Advanced courses in mortgage financing, property development and management, and other subjects also are available. Advancement opportunities for agents may take the form of higher rates of commission. As agents gain knowledge and expertise, they become more efficient in closing a greater number of transactions and increase their earnings. In many large firms, experienced agents can advance to sales manager or general manager. Persons who have received their brokers license may open their own offices. Others with experience and training in estimating property value may become real estate appraisers, and people familiar with operating and maintaining rental properties may become property managers. (See the Handbook statements on property, real estate, and community association managers ; and appraisers and assessors of real estate . ) Experienced agents and brokers with a thorough knowledge of business conditions and property values in their localities may enter mortgage financing or real estate investment counseling. Employment [ About this section ] Back to Top In 2004, real estate brokers and sales agents held about 460,000 jobs; real estate sales agents held approximately 24 percent of these jobs. Many worked part time, combining their real estate activities with other careers. About 6 out of 10 real estate agents and brokers were self-employed. Real estate is sold in all areas, but employment is concentrated in large urban areas and in rapidly growing communities. Most real estate firms are relatively small; indeed, some are one-person businesses. By contrast, some large real estate firms have several hundred agents operating out of numerous branch offices. Many brokers have franchise agreements with national or regional real estate organizations. Under this type of arrangement, the broker pays a fee in exchange for the privilege of using the more widely known name of the parent organization. Although franchised brokers often receive help in training sales staff and running their offices, they bear the ultimate responsibility for the success or failure of their firms. Real estate brokers and sales agents are older, on average, than most other workers. Historically, many homemakers and retired persons were attracted to real estate sales by the flexible and part-time work schedules characteristic of the field. These individuals could enter, leave, and later return to the occupation, depending on the strength of the real estate market, their family responsibilities, or other personal circumstances. Recently, however, the attractiveness of part-time real estate work has declined, as increasingly complex legal and technological requirements are raising startup costs associated with becoming an agent. Job Outlook [ About this section ] Back to Top Employment of real estate brokers and sales agents is expected to grow about as fast as average for all occupations through the year 2014, because of the increasing housing needs of a growing population, as well as the perception that real estate is a good investment. Relatively low interest rates should continue to stimulate sales of real estate, resulting in the need for more agents and brokers. In addition, a large number of job openings will arise each year from the need to replace workers who transfer to other occupations or leave the labor force. However, job growth will be somewhat limited by the increasing use of technology, which is improving the productivity of agents and brokers. For example, prospective customers often can perform their own searches for properties that meet their criteria by accessing real estate information on the Internet. The increasing use of technology is likely to be more detrimental to part-time or temporary real estate agents than to full-time agents, because part-time agents generally are not able to compete with full-time agents who have invested in new technology. Changing legal requirements, such as disclosure laws, also may dissuade some who are not serious about practicing full time from continuing to work part time. This occupation is relatively easy to enter and is attractive because of its flexible working conditions; the high interest in, and familiarity with, local real estate markets that entrants often have; and the potential for high earnings. Therefore, although gaining a job as a real estate agent or broker may be relatively easy, beginning agents and brokers may face competition from their well-established, more experienced counterparts in obtaining listings and in closing an adequate number of sales. Well-trained, ambitious people who enjoy selling—particularly those with extensive social and business connections in their communities—should have the best chance for success. Employment of real estate brokers and sales agents often is sensitive to swings in the economy, especially interest rates. During periods of declining economic activity and increasing interest rates, the volume of sales and the resulting demand for sales workers falls. As a result, the earnings of agents and brokers decline, and many work fewer hours or leave the occupation altogether. Earnings [ About this section ] Back to Top The median annual earnings of salaried real estate sales agents, including commissions, were $35,670 in May 2004.The middle 50 percent earned between $23,500 and $58,110 a year.The lowest 10 percent earned less than $17,600, and the highest 10 percent earned more than $92,770.Median hourly earnings in the industries employing the largest number of real estate sales agents in May 2004 were as follows: Residential building construction $54,770 Offices of real estate agents and brokers 37,970 Activities related to real estate 32,460 Lessors of real estate 25,840 Median annual earnings of salaried real estate brokers, including commission, were $58,720in May 2004. The middle 50 percent earned between $33,480 and $99,820 a year.Median annual earning of real estate brokers were $61,550 in offices of real estateagents and brokers and $44,920 in activities related to real estate. Commissions on sales are the main source of earnings of real estate agents and brokers.The rate of commission varies according to whatever the agent and broker agree on, the typeof property, and its value. The percentage paid on the sale of farm and commercialproperties or unimproved land is typically higher than the percentage paid for selling a home. Commissions may be divided among several agents and brokers. When the property issold, the broker or agent who obtained the listing usually shares the commission with thebroker or agent who made the sale and with the firm that employs each of them. Although anagents share varies greatly from one firm to another, often it is about half of the totalamount received by the firm. Agents who both list and sell a property maximize their commission. Income usually increases as an agent gains experience, but individual motivation,economic conditions, and the type and location of the property also affect earnings.Sales workers who are active in community organizations and in local real estate associationscan broaden their contacts and increase their earnings. A beginners earnings often areirregular, because a few weeks or even months may go by without a sale. Although some brokersallow an agent to draw against future earnings from a special account, the practice is notcommon with new employees. The beginner, therefore, should have enough money to live forabout 6 months or until commissions increase. Related Occupations [ About this section ] Back to Top Selling expensive items such as homes requires maturity, tact, and a sense of responsibility.Other sales workers who find these character traits important in their workinclude insurance sales agents ; retail salespersons ; sales representatives, wholesale and manufacturing ; and securities, commodities, and financial services sales agents .Although not involving sales, the work of property, real estate, and community association managers ,as well as appraisers and assessors of real estate, requires an understanding of real estate. Sources of Additional Information [ About this section ] Back to Top Disclaimer: Links to non-BLS Internet sites are provided for your convenience and do not constitute an endorsement. Information on licensing requirements for real estate brokers and sales agents is available from most local real estate organizations or from the State real estate commission or board. More information about opportunities in real estate is available on the Internet site of the following organization: National Association of Realtors. Internet: http://www.realtor.org OOH ONET Codes [ About this section ] Back to Top 41-9021.00, 41-9022.00 Suggested citation: Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook , 2006-07 Edition , Real Estate Brokers and Sales Agents , on the Internet at http://www.bls.gov/oco/ ocos120.htm (visited December 29, 2005 ). Last Modified Date: December 20, 2005 Occupations: Management | Professional | Service | Sales | Administrative | Farming | Construction | Installation | Production | Transportation | Armed Forces Related Links: Tomorrow's Jobs | OOH Reprints | Important Info | How to Order a Copy | Teacher's Guide to OOH Additional Links: Career Guide to Industries | Career articles from the OOQ | Employment Projections | Publications Home | BLS Home Back to Top www.dol.gov Frequently Asked Questions | Freedom of Information Act | Customer Survey Privacy & Security Statement | Linking to Our Site | Accessibility U.S. Bureau of Labor Statistics Office of Occupational Statistics and Employment Projections Suite 2135 2 Massachusetts Avenue, NE Washington, DC 20212-0001 URL: http://www.bls.gov/OCO/ Phone: (202) 691-5700 Fax: (202) 691-5745 Do you have a question about the Occupational Outlook Handbook ? Technical (web) questions: webmaster@bls.gov Other comments: feedback@bls.gov Occupations: Management Professional Service Sales Administrative Farming Construction Installation Production Transportation Armed Forces Related Links: Tomorrow's Jobs OOH Reprints Important Info How to Order a Copy Teacher's Guide to OOH Additional Links: Career Guide to Industries Career articles from the OOQ Employment Projections Publications Home BLS Home

Texas Land and Wildlife

Information Resources for Texas Conservation David Bezanson 5 236 2004-08-04T20:52:00Z 2004-08-05T01:16:00Z 2 231 1321 TCONR 11 2 1622 9.6926 Information Resources For Texas Conservation TCONR works with other organizations, public and private, to promote conservation and efficient use of natural resources in Texas. This page contains links to fact sheets, white papers, and other information sources that have been compiled by TCONR members or are provided at other external websites. Check back routinely for updated information. Conserving Texas Land and Wildlife The Texas Environmental Profiles website jointly maintained by Environmental Defense and the TexasCenter for Policy Studies includes comprehensive information from many sources about wildlife and land conservation topics such as the status of Texas lands , threatenedspecies and habitat types . The Texas Parks and Wildlife Department conservation page includes links to descriptions of native and endangered species , informationabout opportunities for landowners interested in wildlife and nature tourism, and an introduction to the Texas Master Naturalist Program which has trained hundreds of volunteers to be better land and wildlife managers. Natural Vegetation Types and Their Representation in Conservation Areas . Thesis by David Bezanson lists plant communities that occur in Texas and examines the extent they are conserved in state parks, wildlife areas, and other public and private lands. A summary form, Conservation Priorities for Texas , by David Bezanson and David Wolfe was published in 2001 with a grant from the Magnolia Charitable Trust. The Audubon Society, Texas chapter promotesconservation of birds, other wildlife and their habitat. The Big Thicket Association is an advocacy organization which continues to work to conserve areas of the Big Thicket, one of Texas' most biologically diverse areas. State parks or outdoor links Texas Parks and Rec Many Texans have donated property or conservation easements to a land trust. The Texas Land Trust Council web page contains a guide to this growing movement. Land trusts in Texas include the Conservation Fund andtwo organizations founded by TCONR's Ned Fritz, the Nature Conservancy of Texas and Natural Area Preservation Association , which have conserved more than a million acres of wildlife habitat. The Texas Section Society for Range Management promotes rangeland conservation and research to support responsible grazing management. Native Prairies Association of Texas is a land trust that owns and manages native prairies and provides information about restoring prairies of Texas . The Texas Legacy Project website maintained by the Conservation History Association of Texas is an archive of interviews with individuals, past and present, who have contributed to natural resource conservation in Texas. Texas Water Use and Conservation The Texas Environmental Profiles website jointly maintained by Environmental Defense and the TexasCenter for Policy Studies is a resource for information on water quality , water use and other environmental concerns. Texas Parks and Wildlife Department's Texas: The Stateof Water page contains news articles about water rights and water conservation, designated significant streams, and links to economic analyses of outdoor recreation. For more information about water development and planning, visit the Texas LivingWaters Initiative website, a collaborative project of the National Wildlife Federation , Environmental Defense, and Sierra Club Lone Star Chapter to inform the public about the effects of reservoirs and the importance of water conservation. For specificinformation about Marvin Nichols Reservoir and regional water planning, visit Stop Marvin Nichols . The San Marcos River Foundation is a nonprofit organizationwhich advocates purchase of water rights to protect instream flows in Texas rivers. TCONR's Janice Bezanson and Gina Donovan serve with other volunteers on the Texas River Conservation Advisory Board to provide citizen input on theimportance of natural waters for recreation and the environment. Texas Facts, Figures, and Images Images of Texas natural areas for public use. Back to Home

Home Equity Conversion (HEC).

Home Equity Conversions: Reverse Mortgages Home Equity Conversions: Reverse Mortgages Authors: Celia Ray Hayhoe, Ph.D, CFP®, Family Resource Management Cooperative Extension Specialist and Stacey Williamson, Graduate Assistant; Virginia Tech Publication Number 354-025, Posted April 2004 Many senior adults are finding it hard to live on their fixed retirement incomes and are looking for ways to supplement those incomes. For some, the largest asset they own is their home, but they do not want to sell their home and move. For these individuals, there is an option called Home Equity Conversion (HEC). One type of home equity conversion is a reverse mortgage. The equity or cash value of the house is used to provide income to repay the loan. All reverse mortgage options are not the same. They have different eligibility requirements, income amounts, timing of payments, interest rates, and/or initial costs. Homeowners should compare the different options, keeping in mind their goals and needs. Advantages The value of your house, not your income, is used to determine eligibility. You can receive a lump sum, a line of credit, or a monthly amount, without having to make a monthly repayment. You do not have to sell your home and move, and can continue to live in the same familiar surroundings. You do not have to worry about losing your home to foreclosure since the payments are made out of your equity in the home, not from your income. The loan must be repaid when the house is no longer used as your personal residence. However, the lender can only look to the proceeds from the sale of the house for repayment. They cannot go to your heirs if the house sells for less than what was borrowed. Money can be used for any purpose. You must attend a free HECM/HUD approved counseling session to see if this type of mortgage is right for you. Disadvantages Interest for a reverse mortgage is compounded, and cannot be deducted on income taxes until you repay it. The income you receive decreases the equity in your home, and the equity may not be adequate for your future needs or for your estate. Interest rates and initial costs (application fees, points and closing costs) are usually higher for a reverse mortgage than for other equity loans. Income ends when you sell your home or no longer use it as a principal residence. Payments may affect Supplemental Security Income and Medicaid payments. You must attend a free HECM/HUD approved counseling session. This may add time to the process of obtaining a loan. You may need to pay off your existing mortgage out of the proceeds of your reverse mortgage. You will be required to maintain the house, pay the taxes, and carry property insurance. Eligibility You could be eligible if you own your own home, use the home as your principal residence, and are at least 62 years of age. You must also have adequate equity in the home. A lender looks at the equity in the home plus any expected appreciation or depreciation in the value of the home to calculate a base amount. The costs associated with any reverse mortgage loan (application fees, interest rates, closing costs, initial charges, sales commissions, and homeowner's insurance) also must be considered. All reverse mortgages currently available in Virginia require homeowner's insurance. The lender and the homeowner must work together to determine the type of payment, the payment amount, and the time period. This is determined not only by the calculations of the base amount by the lender, but also by keeping your goals and financial needs in mind. Income Income from a reverse mortgage is not taxable, and will not affect Medicare eligibility or benefits. But the added income can affect both Supplemental Security Income and Medicaid eligibility and benefits for Virginia residents. Confused? A home equity conversion is not a home equity loan! Home-equity loans require that a homeowner has enough income to pay back the loan, and the payments are made in monthly amounts. A home-equity loan would not work for the majority of senior adults who are living on limited fixed incomes and who could not afford a loan payment. Example A wide variety of loan options are available depending upon your age, the amount of equity available, the time period of the loan, and the way payments are disbursed. For example, Mary Jones, a 75-year-old widow whose home is her principal residence, is looking at a ten-year reverse mortgage that will provide her with additional monthly income of approximately $450. At the end of the ten years the monthly income payment will stop. But because her loan is through an insured lender (loans offered by HUD approved lenders have government guarantees), the loan will not have to be repaid until she sells the home, moves, or dies. Home Equity Conversion Checklist These questions can to help you determine if you are eligible for a home equity conversion (HEC). YES NO 1. Are you 62 years of age or older? _____ _____ 2. Is your mortgage paid off in full or nearly so? _____ _____ 3. Do you use your home as your primary residence? _____ _____ If you have answered yes to questions 1 through 3, you might want to consult with an HEC lender for specific information. The following questions will help to determine if you are eligible for a Housing and Urban Development (HUD) home equity conversion. A HUD-HEC is similar to other HECs but with additional requirements for the property and residents. 4. Is your home a single-family dwelling? _____ _____ 5. Will your home probably meet HUD minimum property standards? _____ _____ 6. Is your family income less than 80% of area median? _____ _____ If you have answered yes to questions 1 through 6; you might want to consult with a HUD-HEC lender for specific information. The following is a list of HEC/Reverse mortgage programs. FHA - HECM (Home Equity Conversion Mortgage) Guaranteed by FHA/HUD Flexible Income Payment Option Growing Line of Credit Maximum Lending Limit - $ 280,749 Cash Account Flexible Income Payment Options Growing Line of Credit Higher Equity Release Options No Maximum Lending Limit HomeKeeper by Fannie Mae Guaranteed by Fannie Mae Line of Credit Options Maximum Lending Limit - $ 322,700 Zero Point Cash Account Closing Costs Limited Minimum Draw at Closing Required Interest Rate Cap No Maximum Lending Limit The following lenders offered HEC/Reverse mortgages as of March 2004: Mortgage Capital Investors Equity Division 6571 Edsall Road Springfield, VA 22151 (703) 941-0711 East West Mortgage - HECM, HK, CA 4321 Northview Drive Bowie, MD 20716 (866) 9REVERSE [(866) 973-8377] (301) 809-1568, ext. 225 Financial Freedom Senior Funding Corp. (Subsidiary of Lehman Brothers, FSB) - HECM, HK, CA (800) 368-3254 Reverse Mortgages of the Mid-Atlantic - HECM, HK, CA (800) 745-0102 Suntrust 564 Lynnhaven Parkway Virginia Beach, VA 23452 (757) 431-4876 Fidelity & Trust Mortgage, Inc. - HECM, HK, CA 7229 Hanover Parkway Suite C Greenbelt MD 20770 (703) 273-3797 (800) 458-4624 People's Choice Mortgage - HECM, HK, CA (757) 564-8596 Wells Fargo Home Mortgage - HECM, HK (888) 292-1180 Inclusion on this list of lenders does not imply endorsement by Virginia Cooperative Extension, nor does omission from this list imply a lack of endorsement. Home Equity Conversion Comparison Worksheet Name of Lender Features Payment Option: ----------------------- ----------------------- ----------------------- Lump Sum Option Line of Credit Option Monthly Benefit Option APR (Annual Percentage Rate) Time Period Application Costs Closing Costs Sales Commissions Insurance Costs Other Initial Charges For More Information AARP Home Equity Information Center 601 E. Street NW Washington D.C. 20004 (202) 638-2863 http://www.aarp.org/revmort/ Reverse Mortgage Money (866) 363-1914 requestinfo@reversemortgagemoney.com American Credit Counselors Tudor Square, Ste. 10 211 Roanoke St. Christiansburg, VA 24073 (800) 926-0042 virginia@cccsswva.org http://www.americancredit.org HECM Counseling National Center for Home Equity Conversion 360 Robert Street North Suite 403 St. Paul, MN 55101 (651) 222-6775 People Incorporated 1173 W Main St Abingdon, VA 24210-2428 (540) 623-9000 HECM Counseling Original authors: Patricia Gorman, graduate assistant, and Kathleen Parrott, former Extension housing specialist, Virginia View this document in PDF format Visit Virginia Cooperative Extension

New Home

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News Tools Dry Country Here's a map that shows just how dry the U.S. Midwest has become and why it's ripe for wildfires. Photo Essay Star Splits Breaking up is hard to do, even when you're a celebrity. Officials Fear More Wildfires Updated While winds eased after the outbreak of fires ravaged parts of Texas and Okla., forecasters predict a return of the hazardous conditions by the weekend, plus fireworks celebrating the new year prompting fears of another round of fires. More... Photo Essay: Deadly Wildfires Watch: Brush Fires Turn Deadly Photo: AP Photo/The Daily Oklahoman TOP STORIES West Coast Braces For More Floods Watch N. Calif. Rivers At Highest Levels In 7 Years, More Rain On Way Israeli Checkpoint Stops Bomber Palestinian Blew Himself Up At West Bank Roadblock Set Up After Tip Existing Home Sales Decline Watch Nov. Figures Lowest Since March, But Housing Market Remains Healthy Thief Turned In By Sons Sentenced Dad Gets 40 Years, Sons Saw Him On A Surveillance Photo Wood Chipper Blamed In Man's Death Tree-Service Worker Cutting Branches Thought Pulled Into Chipper Photo Essay Wildfires Flare Wind-driven flames burn through towns in Texas and Oklahoma Video 2005 Video Recap Video highlights of the year's top stories. U.S. | VIDEO | SECTION PAGE Thief Turned In By Sons Sentenced • 9/11 Loans Went To Unqualified • Friends Feud Over Lottery Claim • Americans Split On Domestic Spying • More Stories World | VIDEO | SECTION PAGE Al Qaeda Threatens Sudan Hostages • Envoys Haggle For Yemen Captives • China Says 300M Drink Unsafe Water • Israeli Checkpoint Stops Bomber • More Stories Health | VIDEO | SECTION PAGE Health Customs Migrate To U.S. • Vitamin D As Cancer Crusher • Newer Cancer Drugs Beat Tamoxifen • Playing The Pain Away • More Stories SciTech | VIDEO | SECTION PAGE Greens Also Feed At Public Trough • Technology Blossoms In 2005 • A Sneak Peek At Consumer Labs • Vitamin D As Cancer Crusher • More Stories Entertainment | VIDEO | SECTION PAGE New: Marsalis New Year's Guest Of Honor • No Charge In Lohan Crash • Jail For Will Smith Identity Thief • Dunkin' Donuts Ad Actor Dies • More Stories Opinion | SECTION PAGE Jive And Thrive In '05 • New: Turning Point In Military Strategy • Good Gifts • Rough Year For Bush In Polls • More Stories Politics | VIDEO | SECTION PAGE DeLay Gets Hearing On Speedy Trial • Dems Charge Homeland Failures • Rough Year For Bush In Polls • More Early Alito Memos Released • More Stories Business | VIDEO | SECTION PAGE 2006 Economy Looks Solid • Hilton Reunites, 40 Years Later • Existing Home Sales Decline • Weekly Jobless Claims Rise • More Stories STRANGE NEWS | SECTION PAGE Doggie Insurance Now Required in Vienna • Austrian Artists Pull Offending Billboards • Pay Up: Billions Sought in Bill Mixup • Jamaican Police Officer Becomes Rap Artist • More Stories SPORTS | VIDEO | SECTION PAGE Secondary concerns • Last year's applicants have good shot at Cooperstown • Don't look now, but Ravens' Boller has 'found himself' • More Stories CBS NEWS BROADCASTS The Early Show Start The Year With An Open House Watch One approach would be a Mediterranean-style New Year's Day bash, and cooking teacher and cookbook author Tori Ritchie has some ideas and recipes sure to earn you raves. She shares them on The Early Show . More... The Early Show CEO Is 'One Tough Mother' Watch Columbia Sportswear is a billion-dollar company with a CEO whose motto is "Early to bed, early to rise, work like hell and advertise." At 81, Gert Boyle is young at heart. More... CBS Evening News The Art Of Verbal Judo Watch Former police officer George Thompson teaches other cops how to avoid conflict and gain compliance from suspects with a technique he calls verbal judo, Richard Schlesinger reports. More... The Early Show A Sneak Peek At Consumer Labs Watch When Consumer Reports magazine publishes test results, the world listens. But how do they evaluate all those products? WCBS-TV technology editor Brett Larson got a look inside the lab and filed a report for The Early Show . More... The Early Show Amputee An Inspiration To Others Watch A horrific train accident cost Cameron Clapp both legs and one arm. But as Dave Price reports, the young man is determined to make the most of his situation and serves as an inspiration to others. More... The Early Show Nervous Flyers Catch Security Eye Watch The next time you fly, security personnel may spend more time looking at you than at your bags. Behavior observation programs are being tested at some U.S. airports. The Early Show 's Tracy Smith reports. More... Back To Top Advertisement Fullscreen | Help All Videos Iraqi Election Turmoil | E-Mail West: Rain, Snow & Mudslides | E-Mail Crawling While Intoxicated? | E-Mail Teen Amputee's New Life | E-Mail Take the CRIMINAL MINDS profiler quiz Fantasy Football: Roster Trends Play along with CSI Interactive. Take our CRIMINAL MINDS quiz to find out if you're FBI agent material. | Thu. Dec. 29, 2005 CBS.com 8:00 Criminal Minds: When the daughter of a District Attorney is kidnapped. 9:00 CSI: One cult member turns up missing at a mass suicide crime scene. 10:00 Without a Trace: Jack endures a brutal deposition by his wife's divorce attorney. CBS SportsLine NFL Films: Charles Haley Peach Bowl Preview: LSU-Miami Check out the SPiN On Sports POP QUESTION Vote for your top five news stories of 2005 Iraq Pope Dies/ New Pope Plamegate Katrina / Hurricanes Rosa Parks Dies Supreme Court Vacancies Bush's Domestic Spying Tsunami Relief Bird Flu Spreads Charles Marries Camilla Brad / Jen / Angelina Tom & Katie Natalie Holloway / Aruba Pakistan Earthquake Shuttle Relaunch Deep Throat Revealed -- -- Advertisement Enter Moens Show Us Your Style Sweepstakes Would you like a two hour consultation from celebrity designer Vern Yip plus $5000 in cash and Moen products? 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