Todays deals on Non Reversing?

CUTLER HAMMER STARTER NON-REVERSING CONTACTOR NEMA SIZE 6 CAT# A201K6CA NEW 100% $10,000.00

EATON/CUTLER HAMMER W201K4CF NON-REVERSING CONTACTOR 135A 3P ***NIB*** $5,499.00

Cutler Hammer ECN2441CAH ENCLOSED NEMA FULL VOLTAGE NON-REVERSING STARTER $4,500.00

Cutler Hammer Eaton A201K6CAZ1 Non Reversing Contactor NEMA Size 6 $3,795.25

CUTLER HAMMER STARTER NON-REVERSING CONTACTOR NEMA SIZE 5 CAT# A201K5CAC NEW $3,200.00

CUTLER HAMMER NON-REVERSING OR REVERING CONTACTOR 3 PHASE CAT# V200M4CJC NEW $3,000.00

Cutler-Hammer VM160CJ Non-Reversing Vacuum Contactor $2,499.00

Cutler Hammer A201K5CAC Non-Reversing Contactor Motor Starter NEMA Size 5 NEW!!! $2,000.00

CUTLER HAMMER A200M4CAC SIZE 4 NON REVERSING STARTER $1,965.99

CUTLER HAMMER AN16SN0AB SIZE 5 NON REVERSING STARTER AN16SNOAB NEW $1,900.00

EATON ECN16A2AHA COMBINATION COMBO STARTER, NEMA SIZE 00, NON-REVERSING, FUSIBLE $1,600.00

CUTLER HAMMER A200M3CAC SIZE 3 NON REVERSING STARTER $967.99

CUTLER HAMMER AN16NN0A SIZE 4 NON REVERSING STARTER AN16NNOA NEW $900.00

CUTLER HAMMER AN16NN0 SIZE 4 NON REVERSING STARTER AN16NNO (A) $750.00

CUTLER HAMMER AN16NN0 SIZE 4 NON REVERSING STARTER AN16NNO (A) $700.00

Siemens Furnas Non-Reversing Size 4 Starter w/ ESP100 14JTM32AA 100HP 120VAC NIB $719.99

Cutler Hammer Combination Motor Control #ECN2201AAD ~ Full Voltage Non-Reversing $699.00

CUTLER HAMMER A200M2CAC NON REVERSING STARTER NEW NIB $636.65

CUTLER HAMMER AN16KN0A SIZE 3 NON REVERSING STARTER AN16KNOA NEW $600.00

CUTLER HAMMER NON REVERSING STARTER MODEL J CAT# A200MOBR NIB $599.99

CUTLER HAMMER W200MLCFC NON-REVERSING STARTER ***NIB*** $549.00

Cutler Hammer A200M2CAC model J non reversing starter 3 pole size 2 110/120V $500.00

CUTLER-HAMMER W200MLCFC NON-REVERSING STARTER NIB!!! $475.00

CUTLER HAMMER A200M2CAC SIZE 2 NON REVERSING STARTER $429.99

ABB Control Non-Reversing Contactor A63-30 NEW $363.84

CUTLER HAMMER AN16GN0AB SIZE 2 NON REVERSING STARTER AN16GNO NEW $360.00

New Cutler Hammer W200M1CFCY4Y7 Non-Reversing Starter $350.00

New Cutler Hammer W200MLCFCY4Y7 Non-Reversing Starter $350.00

Joslyn Clark Non Reversing Magnetic Starter Nema 0 3 Nema 4 for Motor Control $365.00

WESTINGHOUSE A200M2CAC, NON-REVERSING STARTER, SIZE 2 $349.99

CUTLER-HAMMER W200MLCFC NON-REVERSING STARTER USED $325.00

Westinghouse A200S0CA-CU-BT8 non reversing starter 120V coil in starter $300.00

Cutler Hammer A201K2CA non reversing starter model J NEMA size 2 3pole $300.00

Westinghouse A201K2CA model J non reversing contactor 3 pole size 2 110/120V $300.00

Westinghouse non reversing starter A200M1CI-C model J 3pole 27amp size 1 24/60V $300.00

Cutler Hammer A201KOCA Contactor Size 0 Non-Reversing $295.00

Cutler Hammer A201KOCA Contactor Size 0 Non-Reversing $295.00

Westinghouse W201K2CF non reversing contactor 3 pole NEMA size 2 120V coil $300.00

Westinghouse A200M1CS model J non reversing starter size 1 3pole 125DC $300.00

CUTLER HAMMER A200M1CAC SIZE 1 NON REVERSING STARTER $289.99

Josyln Clark T13UO2A-26 9A 240vac AC Non-Reverse NEMA Motor Starter/Heater Open $300.75

NIB CUTLER HAMMER NON REVERSING STARTER SZ 1 A200M1CAC $289.00

14CUB32BF SIEMENS NON REVERSING STARTER ESP200 OL RELAY $294.95

Cutler Hammer Starter B10S1CA Non-Reversing 3P (3907) $279.99

NIB WESTINGHOUSE NON-REVERSING CONTACTOR A201K1CA 27 A $279.00

WESTINGHOUSE A200M1-CAC NEW NON REVERSING STARTER A200M1CAC $250.00

Westinghouse Non-Reversing Contactor Size 5 GCA-530 NR $263.49

WESTINGHOUSE Non Reversing Starter Sz 00 A200MACACDXZ1 3P 120V $250.00

Cutler Hammer A200M1CAC non reversing starter model J NEMA size 2 3pole $250.00

SIEMENS 3RT1046 1BF40 NON REVERSING CONTACTOR 95 AMP $250.00

WESTINGHOUSE A201K1EA MODEL J 6710C54G18 NON-REVERSING $238.00

CUTLER HAMMER MOTOR CONTROL A201K2CA NON-REVERSING STARTER SIZE 2 873ER01 $229.00

Cutler Hammer W200MLCFCY4Y7 Non-Reversing Starter $200.00

Westinghouse non-reversing contactor model J NEMA SIZE 1 STYLE # 6710C54G06 NEW $195.00

Challenger 4204CAA3S01 non reversing starter 120V 3 poles $200.00

WESTINGHOUSE A200M1CAC, NON-REVERSING STARTER, SIZE 1 $199.99

WESTINGHOUSE Non Reversing Sz 0 A200M0CACDZ1 3P 120V $200.00

Westinghouse non reversing starter A200M0CAC model J 110/120V 3 pole size 0 $200.00

Westinghouse A201K1CA model J non reversing contactor 3pole size1 110/120V 27amp $200.00

Westinghouse A200M1CB model J non reversing starter size 1 3 pole 208/220V $200.00

Westinghouse A201K2BS non reversing contactor size 2 2 pole model J 125V $200.00

Westinghouse A200SACA-C non reversing starter 120V size 00 3pole $200.00

WESTINGHOUSE Non Reversing Sz 0 Contactor A201K0CA 3P $200.00

NIB WESTINGHOUSE NON-REVERSING CONTACTOR A201K1CA MODEL J SIZE 1 3 POLE MAX 600V $190.00

Shamrock 40HP Enclosed Non Reversing Contactor NEW $185.00

SIEMENS 3RT1046-1BF40 NON REVERSING 95 AMP CONTACTOR $200.00

Allen-Bradley 1362-NCG NEMA TYPE 4/13 NON-REVERSING CONTROLLER 230V AC 2HP *NEW* $197.10

Allen Bradley Full Voltage Starter Size 0 509-AAB Non-Reversing 460-480V (6652) $182.00

SIEMENS 3TF4822-0AJ1 NON-REVERSING CONTACTOR 115V ***NIB*** $179.00

CUTLER HAMMER AN16DN0AB SIZE 1 NON REVERSING STARTER AN16DNO NEW $180.00

Siemens Contactor 3TB4217-0AA8 Non-Reversing 120V 4124 $179.99

Westinghouse A201K1CX Non-Reversing Motor Controller $175.00

Shamrock 30HP Enclosed Non Reversing Contactor NEW $165.00

Allen-Bradley 1362-NCG NEMA TYPE 4/13 NON-REVERSING CONTROLLER 230V AC 2HP $179.10

◥◣ALLEN BRADLEY 509-AOD NON REVERSING STARTER 18 AMP 120VAC SIZE 0◢◤ $165.00

*NEW* CUTLER HAMMER ECN0511AAA NON REVERSING STARTER SIZE 1 NEMA 1 WITH THE BOX $161.49

VERY NICE ALLEN BRADLEY NON REVERSING STARTER 509-DOD $159.00

NEW ABB AF75-30 RT AC/DC Contactor Non-Reversing 105A AF753011RT-72 $169.99

WESTINGHOUSE A200M1BR NON-REVERSING STARTER – MODEL J – NEW!!! $149.99

NEW SPRECHER + SCHUH CA7-23C-10 NON-REVERSING CONTACTOR WITH C57-PV RELAY $159.99

Allen-Bradley 100-C16ZS200 Contactor Non-Reversing 600V MAX 100-C16Z*200 B – NEW $159.78

Allen Bradley Size 3 Non-Reversing Starter 709-DOD NR $152.99

NEW RELIANCE DRIVE MINPAK PLUS 14C201 NON-REVERSING OPERATOR CONTROL STATION $149.99

FUJI ELECTRIC SC-E6 NON-REVERSING CONTACTOR, SE125AA $129.99

ALLEN BRADLEY 100-C60H10 CONTACTOR NON REVERSING 600 VOLT MAX 90 AMP $139.99

westinghouse w200m1cfc non-reversing starter $125.00

Ward Leonard Non-Reversing Contactor 200HP 5005-3001-11 $135.99

NEW Cutler Hammer Size 1 Non-Reversing Starter AN16DN0AB 120V NIB $135.99

EATON MINI CONTACTOR NON-REVERSING 3 POLE XTMC6A01 $134.97

EATON # XTCE040D00A NON-REVERSING CONTACTOR, “NIB” $119.99

Allen Bradley Non Reversing Starter Size 3 709-DOD103 $129.99

Allen Bradly 509-TOF Ser B NEMA FULL VOLTAGE NON-REVERSING STARTER,SIZE 00,27 $127.49

Cutler Hammer Size 4 Non-Reversing Contactor A10FGO $127.49

1 GENERAL ELECTRIC CR306B1 STARTER NON-REVERSING 18A 5HP 480V SIZE0 M6-2 $114.99

VERY NICE ALLEN BRADLEY NON REVERSING STARTER 500L-DOD $99.00

CHALLENGER 4204CU03S01 NEW NON-REVERSING OPEN STARTER 4204CU03S01 $99.95

Allen Bradley Non-Reversing Starter w/ Delay 709-EOD NR $110.49

Siemens Furnas Non-Reversing Size 1 Starter w/ OLR 14DF32AAA 10HP $110.49

NEW SPRECHER + SCHUH CA7-12C-01 NON-REVERSING CONTACTOR 1NC $109.99

WESTINGHOUSE B200M2CW NON REVERSING STARTER SIZE 2 $99.99

Non Reversing Questions

Reverse Mortgages New Nationwide Limit: $417,000

A new Reverse Mortgage Limit (FHA/HECM) has been announced. This new limit, a part of the FHA Modernization Act (which was part of the overall Housing & Foreclosure Rescue Bill) will be a nationwide limit – not the old county by county limit. It has been raised to $417,000.

By making the reverse mortgage one national lending amount, it will simplify things considerably for both the lender and the borrower.  This is welcome news as it brings the lending limit more in line with current housing prices (in spite of the downturn of the last couple of years).

A reverse mortgage is for seniors who are 62+, own their home (with or without a mortgage), and use it as their principal residence.  There are no mortgage payments; no credit, income or asset qualifying; it does not affect Social Security or Medicare; the funds are non-taxable. 

Seniors may take the funds (after paying off any current mortgage) as lifetime monthly payments, a lump sum or as a credit line, or any combination.  If they wish to makepayments, that is OK, too. 

The mortgage is good for as long as any of the borrowers  live in the property.  In addition it is a non-recourse loan, meaning that the lender cannot attach other assets if the loan ever exceeds the value of the home. 

If that happens, then when the house is sold FHA pays the difference to the lender.  Most of the time, the loan does not reach the value of the home, and when it is sold, the seniors, or their heirs receive the difference.

Starting in April, 2007, certain members of Congress, FHA and NRMLA (National Reverse Mortgage Lenders Association)  and AARP started working together to make the Reverse Mortgage loan amounts catch up to the real market prices, lower fees, enable it to be used for purchases (instead of only refinances), and to include Co-Ops in the program. Now, finally, some of these goals are in effect. 

BACKGROUND OF THE REVERSE MORTGAGE

Over the years, since 1987, when President Reagan signed FHA Home Equity Conversion Mortgage (HECM) bill into law, FHA and others such as Congress, AARP, and NRMLA have worked to improve this financing instrument.  For those who need to use part of the equity in their homes to get cash to cover rising living and medical costs, and, yet, have no mortgage payment, it has been a valuable program.

 It was part of the overall program called “Aging in Place” because studies and polls had shown that over 85% of seniors wanted to live in their homes, and neighborhoods.  Many were “house rich, but cash poor”, yet wanted to stay where their friends and relatives were, and where they had raised their children. 

Due to the rise in home prices, even downsizing was often over their financial means since their home price, less their mortgage didn’t leave enough to buy smaller place close to the old neighborhood, and smaller incomes did not allow them to qualify for a regular mortgage to make up the difference.

They also desired to retain as much of their independence for as long as possible.   When they got sick, they wanted to invite home-care workers in, rather than going to an assisted living facility or other care facility.  Sociological studies have shown the health of the elderly and the quality of neighborhoods is enhanced by keeping people of all ages in a neighborhood.

Prior to the government getting involved in the reverse mortgage program, some unscrupulous brokers had taken advantage of seniors by going on title and sharing in the homes’ appreciation, or steering seniors with new cash from their reverse mortgages into unsafe, irresponsible investments that made the broker more money – but punished the seniors. 

Often, seniors, especially those who were older did not understand, nor have the details of the reverse mortgage explained to them. Some even lost their homes.   And, today, while these practices are minimal, the rumors persist.

Those old practices have been curtailed by requiring mandatory counseling by HUD approved counselors, and required disclosure forms in the loan package – and by constant encouragement by professional lenders to have the seniors bring a relative, advisor, attorney or trusted friend with them when applying and closing a reverse mortgage.

 Now, new laws and enforcement have all but stopped these practices – and further new laws passed to close any loopholes. 

From time to FHA reviews the program.  For instance, when the program first started, only detached, single family homes were included, but over the year’s owner-occupied 2-4 unit buildings, condominiums and even some modular-type homes were added to the program.

 WHAT DO THE NEW FHA MODERNIZATION ACT CHANGES MEAN? 

It means that for certain seniors who have wanted to get a reverse mortgage to pay off their older, higher loan-to-value mortgages, but were a bit short of the equity to qualify (or would have to have come to the settlement table with cash), this problem may now be solved.  Also, people with higher value homes will receive larger loans, or credit lines.  In addition, the lender origination fee has been reduced and is also effective now.

There had been hope that there would be a limit of $625,000 for high-cost areas, but according to sources involved in the negotiations, just how that would be done created very complicated and uneven solutions.

So, the $417,000 was settled on as the final number.

Several other changes mandated by Congress for changes in the Reverse Mortgage are still forthcoming – such as being able to use the Reverse Mortgage for purchases, instead of only refinances; and including Co-op’s in the program.

These changes will be announced when details have been worked out. Will there ever be a differing high-cost area limit? That remains to be seen over time.

To begin with it depends on where you live. Here in Northern Virginia, and Washington, D.C. the old county FHA HECM (Reverse Mortgage) limits ranged from a high of $362,790 down to a low of $264,100.

Below are a few examples; they are based on a couple aged 70, who own a $450,000 home with interest rates between 4.5% and 5.5%. These are examples only, and to see what you would might qualify for:

1. If you have been living in a county (D.C., Arlington, Fairfax) where the lending limit was $362,790, you would have received $208,000-$218,000 in net proceeds (after costs, but prior to paying off your current loan, and depending on which HECM you chose). Under the new program your net proceeds would be about $281,800, giving you approximately $62,000-$69,000 more.

2. If you have been living in a county (Frederick) where the lending limit was $361,000, you would have received $206,000-$216,000 in net proceeds (after costs, but prior to paying off your current loan, and depending on which HECM you chose). Under the new program your net proceeds would be about $281,800, giving you approximately $76,000-$86,000 more.

3. If you have been living in a county where the lending limit was $290,319, (Culpeper) you would have received $165,000-$175,000 in net proceeds (after costs, but prior to paying off your current loan, and depending on which HECM you chose). Under the new program your net proceeds would be about $281,800, giving you approximately $109,000-$117,000 more.

4. If you have been living in a county (Prince George) where the lending limit was $264,100, you would have received $149,500 – $156,700 in net proceeds (after costs, but prior to paying off your current loan, and depending on which HECM you chose). Under the new program your net proceeds would be about $281,800, giving you approximately $126,000-$133,000 more.

The new limit of $417,000 is targeted to be effective on November 1, 2008. Taking a Reverse Mortgage application, doing the mandatory counseling, getting an FHA approved appraisal and setting up settlement takes about 30-45 days. So, if you have been waiting for this limit increase, or feel the reverse mortgage would be even more beneficial to you now, it’s not too early to get started.

 Also if you currently have a reverse mortgage and want to se if it makes sense to refinance it and ge more of our equity in cash, or to put in a credit line, or have lifetime monthly payments, please see a reputable lender.  If you refinance a reverse mortgage, the cost of the FHA Mortgage Insurance is lower, too.

If you are interested in the way a Reverse Mortgage works, please come to my blog at http://reversemortgagesnow.blogspot.com  and look in the left column.  Under the title Reverse Mortgage Basics you will find pages that explain how the reverse mortgage works, FAQ’s, who uses reverse mortgages, and more.

About the Author

Believing in JFK’s statement of “ask not what your country can do for you…but ask what you can do for your country”, I decided to work in the pubic sector, rather than math, science, linquistics or theatre. While working as a supervisor in Parks Recreation and Community Services, I was appointed to my city’s Planning Commission, and represented them at SCAG, our School District, Chamber of Commerce and the City Planning Division of the California League of Cities. After receiving my MPA in 1978 and returning to California, there were no public sector jobs available to me, and I changed direction and began to sell Real Estate and later opened my own Commercial Real Estate Brokerage. Eventually, I was asked to open a new commercial real estate division for Coast Savings, and have been in real estate finance since approximately 1981.

Specialties:
As of today, I have many different skills from management of a large staff, to budgeting, marketing, originating, training and teaching, and working with a wide range of people from young to elderly, from active to sedentary, from recreational activities to serious and complicated financial planning and advising, and understanding and applying government rules and regulations as needed. At this time of my career I enjoy leading and directing a team, doing research of many times and writing.

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