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Blog Details for "Reverse Mortgage Loans in the USA - News and Infor"
Reverse Mortgage Loans in the USA - News and InforReverse Mortgage Loans in the USA - News and InforWe discuss the latest news and commentary about reverse mortgage loans from all around the country. Articles
Federal Reserve reports on government intervention for the housing crisis
2008-07-08 17:00:00 A Federal Reserve study released Monday states that large-scale government intervention in the US housing crisis would be counterproductive and prevent a "necessary" correction in home prices. More About: Government , Housing , Crisis
Extra cash options for seniors
2008-07-07 17:00:00 If you are over 62 years old, own your home, and need extra cash for whatever reason, you have a few options. One option is to sell your home and downsize to a smaller home. By moving to a smaller home, the amount you pay on property taxes and insurance will probably reduce. More About: Options , Cash , Extra , Seniors
No more 5 percent down in troubled real estate areas
2008-07-02 17:00:00 Since earlier this year, Fannie Mae and Freddie Mac established a policy which penalized buyers in troubled real estate markets with 5% higher down payments. More About: Estate , Real Estate , Real , Troubled
New reverse mortgage legislation calls for more disclosure
2008-06-30 17:00:00 Earlier this month, Governor Carcieri of Rhode Island signed a reverse mortgage legislation that mandates greater disclosure of fees charged by lenders. More About: Mortgage , Calls , Legislation , Disclosure , Reverse Mortgage
Reverse mortgage fees protect borrowers
2008-06-26 17:00:00 The high closing costs associated with a reverse mortgage is what keeps some seniors away. But one of the reasons that the closing costs are high is because of the mortgage insurance that is required on all HECM Reverse Mortgage s. More About: Fees , Reverse Mortgage
Middle class seniors will probably spend every penny before they die
2008-06-25 17:00:00 Due to many reasons in this day and age, it is unreasonable for many of us to expect an inheritance. Although the really rich will be fine, as they always are, the middle class and upper middle class will probably spend every cent before they die. More About: Middle , Class , Middle Class , Seniors , Middle-Class
Easy mortgage contributing to artificial demand
2008-06-24 17:00:00 It is well known that the terrible status of the mortgage market today can be mostly blamed on lenders practically giving away loans to ineligible borrowers. During the housing boom, a first time buyer could easily buy a home with no money down. More About: Mortgage , Easy , Demand
Mortgage crisis affecting children
2008-06-20 17:00:00 The sub-prime mortgage crisis is making things hard for many families. Not only are families losing their homes, but children are also being affected in many ways. More About: Children , Mortgage , Crisis
What are our countrys top officials doing to help the mortgage crisis
2008-06-19 17:00:00 Well, Connecticut Senator Christopher Dodd?s plan allows mortgage lenders to dump up to $300 billion of their worst loans on to taxpayers. This would be done via a new Federal Housing Administration refinancing program. More About: Mortgage , Crisis
Reverse Mortgage worth the fees
2008-06-18 17:00:00 Some seniors are wary about reverse mortgages because of their high fees. It?s true, the fees that come with a reverse mortgage are pretty high, around 6%, but it just might be worth it depending on the senior?s situation. More About: Fees , Mortgage , Worth , Reverse Mortgage
Are better times closer than we think
2008-06-12 17:00:00 Could it be true that the worst of the mortgage credit crisis is over? There is so much speculation supporting that good times are ahead, yet even more say that it won?t get better until the next year or two. More About: Times , Closer
Despite interest rates mortgage applications rose last week
2008-06-11 17:00:00 Last Thursday, I wrote a blog titled ?Interest rates soar while mortgage applications drop.? It was exactly about that, the fact that mortgage rates rose, but there were less mortgage applications, probably because of the high interest rates. More About: Applications , Interest Rates , Mortgage , Rose , Week
Florida leads the nation in fradulent mortgage activity
2008-06-10 17:00:00 In the Mortgage Asset Research Institute?s annual report on fraudulent mortgage activity, Florida led the nation in 2006 and 2007. Nevada came in second, up from No. 6 a year earlier. Michigan, California, Utah and Georgia followed closely in the Top 10. More About: Leads , Nation , The Nation
How is the current housing slump affecting reverse mortgages
2008-06-09 17:00:00 The current housing situation is not affecting those who have already taken out a reverse mortgage in a different way than those with a regular mortgage. One of the problems with the housing slump is that property values are dropping in many real estate markets. More About: Current , Housing , Mortgages , Slump
Unemployment rate not a good sign for economy
2008-06-06 17:00:00 It is unsettling to hear that in May alone, nervous employers cut 49,000 jobs. The unemployment rate soared from 5% in April to 5.5% in May, which is the biggest one month jump in the rate since February 1986. More About: Economy , Unemployment , Sign , Good , Rate
Interest rates soar while mortgage applications drop
2008-06-05 17:00:00 Another sign that the mortgage industry has a long way to go before it gets back on its feet is the fact that mortgage application volume fell 15.3% during the week ended May 30. The trade group Mortgage Bankers Association?s weekly application survey also reported that the application index fell to 502.3 during that week. More About: Applications , Interest Rates , Interest , Rates
Home Values affecting reverse mortgages
2008-06-04 17:00:00 For seniors seeking reverse mortgages, the qualification is pretty simple: you must be 62 years or older, own your home and live there. You must also have a certain amount of equity in your property, though it?s ok if you still make monthly mortgage payments. More About: Home , Mortgages , Values
Mortgage fraud possibly helped inflate prices during housing boom
2008-06-03 17:00:00 As one of the hardest hit areas of the housing and mortgage slump, Las Vegas is the region?s ?mortgage fraud ground zero,? according to Scott Hunter, the FBI?s special agent in Nevada. More About: Fraud , Mortgage Fraud , Mortgage , Housing , Boom
Consumer resistance to blame for slow growth with reverse mortgage
2008-06-02 17:00:00 Throughout the next few years, the reverse mortgage market is expected to grow tremendously. So far the growth has been slower than expected because of a lack of originators and consumer resistance. More About: Consumer , Mortgage , Growth , Resistance , Slow
Credit score doesnt matter when qualifying for a reverse mortgage
2008-05-29 17:00:00 People all over the country have been using their credit cards to pay off their mortgage and other expenses. Even seniors are being hit hard with the high interest rate of credit cards, and having to pay it off on a fixed income. More About: Credit , Mortgage , Qualifying , Matter , Score
Does reverse mortgage give too much freedom
2008-05-28 17:00:00 For many seniors, a reverse mortgage can be a great financial vehicle to carry them through their golden years in relative financial security. One of the perks is that they can spend their home?s equity on just about anything. More About: Freedom , Mortgage , Give , Reverse Mortgage
Hispanics jobless rate hit hard with housing bust
2008-05-27 17:00:00 For Hispanics in the US, the housing bust is really hitting hard. They were among the primary beneficiaries of the expansion in recent years. . The housing boom generated millions of new jobs in industries that required physically demanding jobs from factory work to carpeting and upholstery, to landscaping, roofing, janitorial services, and so many more. More About: Housing , Hard , Bust , Rate
Home values in some areas are appreciating
2008-05-23 17:00:00 An interesting pattern is beginning to show throughout the national real estate market. Those regions which didn?t surge during the boom years are where economies are staying strong and house prices are actually appreciating. More About: Home , Values
Reverse mortgage great for seniors who own house
2008-05-22 17:00:00 Seniors who are cash-strapped are looking for options to help their financial situation. Reverse mortgages are a great option, but are usually better suited for those whose homes are either paid off or have a low mortgage balance, and who want to live in the residence for the rest of their lives. More About: House , Great , Mortgage , Seniors , Reverse Mortgage
Housing situation driving people to sleep in cars
2008-05-21 17:00:00 The housing situation continues to get worse and there seems to be no end in sight. I read a truly heartbreaking story today about middle-class senior citizens and families in California who were laid off in the past few months and have resorted to sleeping in their cars. More About: Cars , People , Driving , Housing , Sleep
Useful info about reverse mortgages
2008-05-20 17:00:00 There are many tips and tools for retirement from many specialists across the world. Here are a few bits of information that I found useful and worth reading about reverse mortgage loans. More About: Info , Mortgages
Expect more foreclosures to come
2008-05-19 17:00:00 Last month alone, there were 243,353 foreclosure filings. According to RealtyTrac, this number is nearly three times the total in the same month just two years ago. More About: Foreclosures , Expect
Declining Market requires 5 percent down
2008-05-16 17:00:00 Earlier this year, Fannie Mae implemented a policy of requiring that buyers make a 5% larger deposit on their home than the original loan program guidelines called for if the property is designated as being in a ?declining market.? More About: Market
Seniors delaying retirement
2008-05-15 17:00:00 According to a new study by the AARP, seniors 45 and older are delaying retirement. The report finds that 6 out of 10 people are having trouble making ends meet, and some can?t even pay for their medication. More About: Retirement , Seniors
Will mortgage crisis affect prime loan market
More articles from this author:2008-05-14 17:00:00 The home mortgage crisis was originally focused on the subprime home market and its delinquencies. More About: Market , Loan , Mortgage , Crisis , Prime 1, 2, 3, 4, 5, 6 |
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