INSTANT POT CORNED BEEF AND CABBAGE

This tender, beer-infused Instantan Pot Corned Beef and also Cabbage is the perfect means to commemorate St. Patrick’s Day. Using the pressure cooker feature makes it hassle-free and very easy to cook a typical corned beef supper in much less time. For a dish without an Instant Pot, look into my Beer-Braised Corned Beef.

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Slow Cooker Salisbury Steak

Put your slow-moving cooker to function as well as make what my hubby calls, “the best salisbury steak” he has ever eaten! Tender Slow Cooker Salisbury Steak integrates in a snap. Browned Salisbury steak patties are gradually prepared in an abundant onion sauce and served over mashed potatoes for healthy and balanced comfort food you are mosting likely to like!

The real key is in the sauce … but you’ll have to keep reading to find out just what that secret component is!

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Instant Pot Honey Garlic Pork Tenderloin

Instant Pot Honey Garlic Pork Tenderloin is a dining establishment high quality dish. The pork is extremely tender as well as pleasantly flavored by a dry flavor rub and an outstanding honey garlic sauce. This pressure cooker honey garlic pork tenderloin is unique enough for day night, or a weeknight dinner.

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Caprese Pasta Salad

Caprese pasta salad made with juicy tomatoes, marinaded fresh mozzarella cheese, fragrant fresh basil, as well as a mouthwatering homemade Italian herb vinaigrette!

Pasta salad is an extremely popular functional side recipe! Whether the salad is based in oil or mayo, it’s constantly a hit at potlucks. This variation is a wonderful natural make-ahead dish as well as incorporates the traditional American pasta salad with the Italian Caprese flavors!

 

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Rump Roast – Crock Pot or Pressure Cooker

The thing with Rump Roast is that it is a super lean roast.  This is unlike other roasts that have a lot of fat and connective tissue throughout that breaks down when it is cooked, making the roast more tender.

RUMP ROAST VS. CHUCK ROAST

This also means that a chuck roast can shrink significantly depending on how much fat and connective tissue there is.  I like to use a rump roast for that specific reason.  It doesn’t shrink as much as other, fattier roasts.  But the down side is that it takes longer to breakdown and get tender.

This tough cut of meat needs to be cooked in a Pressure Cooker, or low and slow in a Crock Pot.

Source: jenniferbanz.com

Precautions necessary before taking a Reverse

Mortgage Loan

The Reverse Mortgage Loan (RML) was Introduced in India 10 years back (2007) to improve the life of house-owning senior citizens. RML is a loan that enables them to meet their day-to-day expenses pertaining to food, medicine, and repair of the house. At an age when the majority of people do not have a regular source of income in India, RML is a friend of the rainy season. Minimum age of availing the RML is 60 years, irrespective of the gender difference, and if a couple seeks a joint loan, then age limit for the spouse is 55 years or above. The applicant must have his/her own purchased house as RML cannot be secured against ancestor’s property. There are various factors on which banks and other financial institutions assess the value of property, but its minimum residential life shouldn’t be less than 20 years. Whereas age of the individual, RML plan, and prevailing interest rates are some standard criteria for calculating the monthly or lump sum amount. Presently, Rs.50, 000 is the ceiling limit in monthly payment plans, and 50 percent of the loan amount is the maximum lump sum limit.

 

Undoubtedly, RML is a great financial tool for senior citizens who want to live independently even in the old age. But to get maximum benefits from any tool the user must be aware of its flip side too; because superficial knowledge of RML may cause many incessant troubles in the post-retirement phase. So, to ensure peace of mind at that crucial age, one needs to be very smart as well as cautious while dealing with the sales gimmicks of loan providers. One should make oneself assured that he will not be cheated after signing the papers. Hence, besides doing extensive research in advance, one should also seriously take the advice/precautions shared below.

There are mainly two types of RML available in the Indian market, one is Regular RML, and the other one is RMLeA (Reverse Mortgage Loan-enabled Annuity). One should be very careful while assessing one’s future needs, as these two are entirely different and purpose specific.

Usually, banks in our country offer 40 to 50 percent of the market value of a residential property. In case, if a lender is making promises to offer beyond it then think thrice and take the help of a reputed financial consultant to unearth the truth.

Quite often banks claim that they charge a one-time processing fee (0.5% of the loan amount), but in reality, like any other loan, there are many hidden charges that a borrower comes to know in the latter stages. Therefore, you should be well-informed about the potential costs in advance.

There is no compulsion regarding the repayment time; a borrower can redeem it even before the agreed time duration. Also, one need not repay the mortgage as long as one lives in his/her house. Payment is due only when the person passes away, sells or moves out of his/her residential property. In the case of borrower’s death, the bank holds all rights to sell the property and recover the loan. And, if the proceeds exceed the due amount, then the bank is obliged to return the same to the legal heirs.

However, without letting the property get sold by the bank, legal heirs can still get the mortgage released by repayment of loan amount along with accumulated interest. The no prepayment- penalty feature is also there easing out the burden of borrowers and letting them make the advance payment of the loan as and when possible.

Under the Finance Act 2008, the government has exempted the RML. According to this act, no tax shall be levied if the borrower or the legal heirs return the full amount from other sources, without selling the property. This is only one side of the story because ironical to this there are still some taxes that can haunt the borrowers. In case, the property is disposed of by the lender; then the borrower is liable to pay income tax on capital gains. Other than this, even the annuity income in the hands of recipients is also taxable.

Eligibility for a reverse mortgage requires a person to prove that he/she can make their homeowner’s insurance, tax, and upkeep payments. If failed in keeping the taxes current and paying the insurance premium on time will result in foreclosure and loss of home. So, think before you leap into it. Remember, you have the right to cancel the deal within 3 days of finalizing it. So, don’t hesitate to cancel the deal if you think something went wrong. However, this money can’t be invested in shares and real estate.

Now Rejoice the Regret-free Future

A reverse mortgage is an excellent option for the retirees who wish to have a better lifestyle but are lacking in covering their expenses from the meager income that they are getting from other sources. Consider the benefits and drawbacks simultaneously, and if the former outweighs the latter, then surely a decision of getting the Reverse Mortgage Loan will not ever make you repent.

Instant Pot Brown Rice

Instant Pot brown rice is a hands off way to cook fluffy brown rice! This easy pressure cooker rice recipe helps to simplify dinner prep!

I have another simple Instant Pot recipe for you today!

You’re going to love this easy Instant Pot brown rice! It’s fluffy, sticky and the perfect side dish for stir fry, meatballs or salmon.

If you usually cook your brown rice on the stove, you are going to fall in love with this foolproof Instant Pot rice. I don’t know about you, but whenever I cook rice on the stove I always end up with a mess. The rice bubbles over onto my stove or it ends up overcooked because I’ve gotten distracted.

Source: kristineskitchenblog.com

Getting a Reverse Mortgage? Here’s the Process in MI

It wasn’t very long ago when reverse mortgages brandished a reputation as being a high cost, high risk solution of last resort for retirees in Michigan need of income. Today, with revamped rules that lower both their cost and their risk, reverse mortgages have found legitimacy as a viable planning tool. While they are still can be a more expensive form of equity financing, they offer retirees more options with greater flexibility than other loan products. If you’re one of the thousands of people looking into a reverse mortgage, here is what you need to know about getting one.

Want to learn more? Click here to get free information about a reverse mortgage!

Know What Type You Need

There are three types of reverse mortgages from which to choose:

  1. The most popular is an HECM (Home Equity Conversion Mortgage), which is insured by the Federal Housing Administration (FHA). There are non-HECM reverse mortgages available, but they don’t have the same consumer protections as HECMs. The lending limit for federally insured HECMs is $625,000.
  2. If you’re home is worth more than $625,000, you would need to apply for a proprietary reverse mortgage, also called a jumbo reverse mortgage.
  3. The third type is a single-purpose reverse mortgage which is available through certain local government and nonprofit organizations to assist older homeowners in covering the costs of repairs or to pay property taxes.

Know How to Qualify for a HECM in MI

To qualify for a federally insured HECM, you have to meet certain FHA requirements, including:

  • You are at least 62 years old
  • You live in the home as your primary residence. If you are married, your spouse must also live in the home whether or not she is named on the loan.
  • You are not behind on any federal debts
  • You own your home outright or have a significant amount of equity in it
  • Your home meets FHA property standards and flood requirements
  • You attend a required HECM counseling session

Know Your Payment Options in Michigan

With an HECM, you have several options for how to receive your payment. This far into the process, you should know the purpose for getting a reverse mortgage – supplementing your income, buying another home, home improvements, etc. – so you should know which payment option would serve you best. Generally, there are three options available to you: Monthly payments, which can be set for as long as you live in your house or for a fixed period of time; a one-time lump sum; or a line of credit. With a line of credit, the lender approves a maximum credit limit from which you can draw funds as you need them. Unlike the other options, you can pay back a line of credit to replenish your limit.

The Reverse Mortgage Financial Assessment

Once you submit a HECM application, the lender will complete a financial assessment. The primary reason for the assessment is to ensure you have the ability to pay your property taxes and homeowners insurance on time. Failure to make these payments is cited as the number one reason why reverse mortgage borrowers have lost their homes to foreclosure. The lender will set aside a portion of your loan proceeds to cover these obligations on an ongoing basis.

Waiting to Close

As with any type of mortgage, the time it takes to close on them varies from lender to lender, but most will come in around 30 days. The holdup in most cases is the appraisal which can be slowed by a high demand for appraisers in your area.

Getting the right reverse mortgage for your needs takes a little time, so you don’t want to hurry the process. Do your due diligence. If you have any questions or concerns along the way contact a HUD-approved counselor for guidance.

Top Michigan Reverse Mortgage Companies

You want a HECM lender that you can rely on. Though these are not recommendations, we’ve compiled a list of the largest lenders in the state. Prior to 2012, this was mostly large banks that you’ve probably heard of, like Wells Fargo. Since 2012, the list is dominated by more specialized mortgage bankers who typically focus on the HECM product exclusively.

All Time

LENDER LOANS TOTAL PRINCIPAL LIMIT
FINANCIAL FREEDOM SENIOR FUNDING CORP 2855 282494561
WELLS FARGO 2715 386838513
ONE REVERSE MORTGAGE LLC 1528 243230240
AMERICAN ADVISORS GROUP 1317 218479150
FIRST FINANCIAL MORTGAGE CORP 1249 194780325
SENIORS EQUITY INCOME INC 1023 120140006
UNITY MORTGAGE CORP 704 57894892
COLONIAL MORTGAGE CORP 677 89157105
SUCCESS MORTGAGE PARTNERS INC 648 117389780
WORLD ALLIANCE FINANCIAL CORP. 579 78235612
CENTURION MORTGAGE CORPORATION 535 71784476
PARK PLACE MORTGAGE CORP 377 37926513
BEST MORTGAGE SERVICES LLC 345 32603544
SECURITY MORTGAGE CORPORATION 341 63055067
FIRST ALLIANCE MORTGAGE CO 314 35660260
REMINGTON MORTGAGE INC 303 26261500
VAN DYK MORTGAGE CORPORATION 300 41108292
FINANCE OF AMERICA REVERSE LLC 293 42620907
U.S. FINANCIAL MORTGAGE CORPORATION 281 26153800
METLIFE BANK NATIONAL ASSOCIATION 274 46550510

Since 2012

LENDER LOANS TOTAL PRINCIPAL LIMIT
AMERICAN ADVISORS GROUP 1313 218031650
ONE REVERSE MORTGAGE LLC 1038 174852140
SUCCESS MORTGAGE PARTNERS INC 248 51062500
LIBERTY HOME EQUITY SOLUTIONS INC 210 32734500
PROFICIO MORTGAGE VENTURES LLC 133 22421138
LIVE WELL FINANCIAL INC 109 20275800
SECURITY MORTGAGE CORPORATION 109 22013709
FINANCE OF AMERICA REVERSE LLC 106 20508457
REVERSE MORTGAGE SOLUTIONS INC 85 12976378
REVERSE MORTGAGE FUNDING LLC 74 13987750

Want to learn more? Click here to get free information about a reverse mortgage!

Interest Rates

Based on monthly data from HUD, we’ve calculated the average interest rates for each month:

DATE FIXED RATE ADJUSTABLE RATE
2016-01-01 4.78% 3.54%
2016-02-01 5.04% 3.70%
2016-03-01 5.06% 3.81%
2016-04-01 5.06% 3.92%
2016-05-01 5.02% 4.05%
2016-06-01 5.06% 4.12%
2016-07-01 5.04% 4.21%
2016-08-01 5.06% 4.14%
2016-09-01 5.05% 4.37%
2016-10-01 5.02% 4.58%
2016-11-01 5.06% 4.66%
2016-12-01 5.06% 4.71%
2017-01-01 5.06% 4.80%
2017-02-01 4.96% 4.75%
2017-03-01 4.92% 4.59%
2017-04-01 5.05% 4.52%
2017-05-01 5.05% 4.44%
2017-06-01 5.04% 4.35%
2017-07-01 5.05% 4.40%
2017-08-01 5.06% 4.48%
2017-09-01 5.06% 4.47%
2017-10-01 5.02% 4.49%
2017-11-01 5.01% 4.63%
2017-12-01 5.06% 4.68%
2018-01-01 5.06% 4.65%
2018-02-01 4.94% 4.74%
2018-03-01 4.78% 4.66%
2018-04-01 4.89% 4.80%
2018-05-01 4.69% 4.86%
2018-06-01 5.06% 4.80%
2018-07-01 4.88% 4.76%
2018-08-01 4.57% 4.91%
2018-09-01 5.24% 4.95%
2018-10-01 4.70% 4.91%
2018-11-01 4.77% 5.05%
2018-12-01 4.95% 5.10%
2019-01-01 NA 5.26%
2019-02-01 4.56% 5.26%
2019-03-01 NA 5.02%

Leading Cities in MI by HECM Loans Originated

As you might expect, Detroit leads other cities in Michigan by a large margin with over 5000 reverse mortgages originated since the program began in the 1980s.

RANK CITY ZIP TOTAL
1 DETROIT 48235 5148
2 FLINT 48507 501
3 GRAND RAPIDS 49506 363
4 LIVONIA 48154 289
5 WARREN 48093 284
6 SOUTHFIELD 48075 259
7 KALAMAZOO 49006 249
8 LANSING 48910 241
9 SAGINAW 48602 236
10 MUSKEGON 49442 220
11 TRAVERSE CITY 49684 212
12 WESTLAND 48185 211
13 JACKSON 49202 210
14 BATTLE CREEK 49017 198
15 INKSTER 48141 198
16 ANN ARBOR 48105 196
17 ROYAL OAK 48073 182
18 TAYLOR 48180 179
19 STERLING HEIGHTS 48314 163
20 WATERFORD 48327 156
21 CLINTON TOWNSHIP 48036 148
22 TROY 48098 147
23 WEST BLOOMFIELD 48322 147
24 OAK PARK 48237 144
25 YPSILANTI 48198 135
26 DEARBORN HEIGHTS 48127 134
27 DEARBORN 48124 131
28 REDFORD 48239 129
29 ROSEVILLE 48066 120
30 FARMINGTON HILLS 48336 116

GINGERBREAD COOKIES

‘Tis the season!

If you are planning to bake up a batch of gingerbread cookies over the holidays, I have the perfect recipe for you.

It’s one that I have used for years and years now, based originally off of a gingerbread recipe from Elise Bauer (who many of you know and love from SimplyRecipes.com), and it is perfection.  You can bake it up to be as soft or as crispy as you’d like.  It’s perfect for cutting out all of your favorite gingerbread people.  It’s made with the tastiest warming spices, including lots of ginger and cinnamon.  And bonus — a batch of gingerbread baking in the oven is guaranteed to make your home smell amazing.

Source: gimmesomeoven.com

MI HECM Reverse Mortgage Lenders

Seniors who own homes have many financial options available to them. These options include multiple loan types, investments, and other accounts. But there are only a few ways to tap into home equity. If the bulk of your retirement income is held in your home, you’ll need to find a program that allows you to transform this value into spendable cash. Reverse mortgages in Michigan are a common way to do this.

VanDyk Mortgage Corporation
VanDyk Mortgage Corporation is in business to help seniors providing them Michigan reverse mortgages. NRMLA #16829
The PrivateBank & Trust Company
The PrivateBank & Trust Company is in business to help seniors providing them Michigan reverse mortgages. NRMLA #5568
Kaye Financial Corporation
Kaye Financial Corporation is in business to help seniors providing them Michigan reverse mortgages. NRMLA #30918
Reverse Mortgage USA a Division of Success Mortgage Partners
Reverse Mortgage USA a Division of Success Mortgage Partners is in business to help seniors providing them Michigan reverse mortgages. NRMLA #1352
InterContinental Capital Group, Inc.
InterContinental Capital Group, Inc. is in business to help seniors providing them Michigan reverse mortgages. NRMLA #29388
1st Nations Reverse Mortgage
1st Nations Reverse Mortgage is in business to help seniors providing them Michigan reverse mortgages. NRMLA #30338
Live Well Financial, Inc.
Live Well Financial, Inc. is in business to help seniors providing them Michigan reverse mortgages. NRMLA #3816