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Reverse Mortgage Loans Florida News and InformatioReverse Mortgage Loans Florida News and InformatioWe discuss the latest news and commentary about reverse mortgage loans from Florida. Articles
No end in sight for economic slowdown
2008-07-23 17:00:00 Expect the unemployment rate to rise as Wachovia announced that it is cutting 10,750 jobs as a result of a net loss of $8.86 billion in the second quarter. More About: Economic , Sight
Lenders standards are getting higher
2008-07-22 17:00:00 The housing and mortgage crisis has been responsible for many changes going on in the economy. As early as a few months ago, borrowers with a FICO score of 700 were usually eligible for the lowest mortgage rates. More About: Standards , Higher , Lenders
Fannie and Freddie are crucial to market recovery
2008-07-21 17:00:00 It was announced early last week that the Treasury Department and Federal Reserve plans to take steps to make funds available to Fannie Mae and Freddie Mac if necessary. More About: Recovery , Market
Bernanke urged to implement new changes
2008-07-11 17:00:00 Federal Reserve Chairman Ben Bernanke was urged by the US Treasury Secretary to overhaul the regulatory structure of the financial markets.
Some foreclosures are preventable
2008-07-09 17:00:00 According to Treasury Secretary Henry Paulson, many foreclosures can?t be prevented. In addition to lax lending standards that accompanied the housing boom which allowed people to buy homes they could not afford. More About: Foreclosures , Preventable
Emergency Housing Bill delayed
2008-07-08 17:00:00 The proposed emergency housing bill intended to help as many as 50,000 homeowners on the brink of foreclosure to renegotiate their mortgages has been delayed and may be weeks away from passage. More About: Housing , Bill , Emergency
States raising taxes to replenish treasury
2008-07-07 17:00:00 With record numbers of home foreclosures, gasoline prices and a downward slide in unemployment, it?s no wonder lawmakers are uneasy over finances. Unfortunately this means that they are shying away from major expansions of public-health insurance programs and free preschool classes. More About: Taxes , States , Treasury
Seniors can enjoy retirement without monthly mortgage payment
2008-07-02 17:00:00 Reverse mortgages have been around for a long time, since 1988 to be exact, when Ronald Reagan signed the bill authorizing HUD to insure reverse mortgage through the FHA. More About: Retirement , Enjoy , Mortgage , Payment , Seniors
No laws protecting renters
2008-06-30 17:00:00 Renters are deeply affected by this mortgage crisis. While homeowners are having trouble making their monthly mortgage payments, one extra source of income is from their renters. More About: Laws
Baby boomers helping out younger generation too much
2008-06-26 17:00:00 Older baby boomers were able to get out of debt very quickly in the ?70s, as they lived through an era of high inflation when property values and wages grew very quickly, doubling about every 7 years. To think that today?s average salary will double in the next 7 years sounds a little exaggerated. More About: Baby , Boomers , Baby Boomers , Generation
Housing situation not even halfway over
2008-06-25 17:00:00 It seems that every day there is another news story that reports a different view on the housing market. In article from Reuters David Lowman, chief executive officer of home lending at JPMorgan Chase, states that the downturn of the housing and mortgage market has yet to reach its midpoint. More About: Housing , Situation
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
FBI taking control over mortgage fraud offenders
2008-06-23 17:00:00 If the housing market is still full of excess inventory and the number of foreclosures is still rising, then why are the mortgage interest rates rising too? How are buyers supposed to relieve the surplus of homes when the interest rates are so discouraging? More About: Fraud , Mortgage Fraud , Mortgage , Control , Taking
FBI taking control over mortgage fraud offenders
2008-06-23 17:00:00 If the housing market is still full of excess inventory and the number of foreclosures is still rising, then why are the mortgage interest rates rising too? How are buyers supposed to relieve the surplus of homes when the interest rates are so discouraging? More About: Fraud , Mortgage Fraud , Mortgage , Control , Taking
Leave something extra for your heirs with a reverse mortgage
2008-06-20 17:00:00 One reason why some seniors choose not to take out a reverse mortgage is because they want to leave their home for their heirs. With a reverse mortgage, the house is sold by the bank once the last remaining borrower dies. More About: Mortgage , Leave , Extra , Reverse Mortgage
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
Is 2008 the year of cleanup
2008-06-18 17:00:00 The chief economist for the National Association of Realtors said that by 2013, home prices in South Florida could be 20% to 30% higher. He called Florida?s property market turmoil a ?short-term slump? due in part from a short term over supply. More About: Cleanup , Year , 2008
Selling a home while saving and getting maximum exposure
2008-06-11 17:00:00 When it comes to selling real estate we now have many different ways of doing it. You can choose the traditional way where you hire an agent and at the time of sale they collect a 6% commission or a model where you can save thousands in commissions. More About: Selling , Home , Exposure , Saving
Is a jumbo reverse mortgage right for you
2008-06-10 17:00:00 At least 90% of reverse mortgages are the Federal Housing Administration?s government insured Home Equity Conversion Mortgage (HECM). The other 10% are jumbo or proprietary reverse mortgages, which are not backed by the FHA. More About: Reverse Mortgage , Jumbo
Get professional advice before signing any papers
2008-06-09 17:00:00 If you are seriously thinking about a reverse mortgage, it is important to talk to family, friends, and a financial advisor about it. If you are married, it may be a good idea to make sure that both you and your spouse are listed on the deed. More About: Advice , Professional , Papers , Signing
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
Why are some homeowners able to fix their loans and others are not
2008-06-05 17:00:00 Everyday struggling homeowners call the foreclosure Help Hotline for advice on how to save their homes and avoid foreclosure. The next step is called the foreclosure prevention process. More About: Loans , Homeowners
Is reverse mortgage permanent
2008-06-04 17:00:00 It?s a hard decision to commit to a reverse mortgage because after you sign the papers, there really is no going back. It is possible to refinance a reverse mortgage loan, but once you borrow against the equity in your home, the only way for your house to earn more equity is by appreciation, which is not a factor in anyone?s control. More About: Mortgage , Reverse Mortgage , Permanent
Renters are victims of foreclosure too
2008-06-03 17:00:00 As we already know, this housing slump is affecting everyone in different ways. Whether it is a homeowner going into foreclosure, mortgage brokers out of work, or home values dropping drastically, everyone is sharing the pain. More About: Foreclosure , Victims
Use reverse mortgage to pay off debt
2008-06-02 17:00:00 In March, the Federal Reserve reported that consumers had a record $957 billion of credit-card and other types of revolving debt outstanding, which is up about 8% from a year earlier. More About: Mortgage , Debt , Reverse Mortgage
Will Bush veto the Foreclosure Prevention Act
2008-05-29 17:00:00 The House recently approved the American Housing Rescue and Foreclosure Prevention Act. The bill fell short of the margin needed (the vote was 266-154) to override President Bush ?s threat to veto the bill. More About: Veto
Housing prices still declining
2008-05-28 17:00:00 According to Standard & Poor, a quarterly index that covers all nine US Census divisions, prices nationwide are at levels not seen since the third quarter of 2004, but it is still up 60 percent versus 2000. More About: Housing , Prices
Treat reverse mortgage as final option
2008-05-27 17:00:00 For seniors who have not prepared for their retirement as well as they had hoped, there is always a reverse mortgage. But a reverse mortgage loan shouldn?t be looked at as a backup; instead it should be seen as an option when all others are gone. More About: Mortgage , Final , Treat , Reverse Mortgage
Is reverse mortgage due if you move to a nursing home
2008-05-23 17:00:00 Reverse mortgages have several benefits, especially since the money you receive from it isn?t counted as additional income, and therefore is tax free. More About: Home , Mortgage , Nursing Home , Move , Nursing
Reverse mortgage great for seniors who own house
More articles from this author: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 1, 2, 3, 4, 5, 6 |
