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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
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
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
Three steps towards a smarter financial decision
2008-05-21 17:00:00 So you?ve already heard about reverse mortgage loans and how you can access your hard earned equity. You are also aware of predatory lenders and that you should carefully consider all available options and speak to family and friends before making a financial decision. More About: Financial , Decision , Steps
Behavioral changes in consumer spending habits
2008-05-20 17:00:00 There have been many behavioral changes in consumers since we entered this credit crunch. A survey of Wal-Mart buyers by Reuters found a significant increase in store traffic from the end of the month to the first of the month. More About: Habits , Consumer , Spending
Seniors pressured into buying unnecessary financial products
2008-05-19 17:00:00 When seniors are approached by someone trying to sell them a reverse mortgage, they should pay specific attention to the fine print and if the person is trying to add on other financial products. More About: Products , Buying , Financial , Seniors
Reverse mortgage great for those who dont want to move
2008-05-16 17:00:00 One way to find out if a reverse mortgage loan is right for you is to look at your future plans for your home. Do you plan on staying there for a long time? Or do you plan on moving or selling in the near future? More About: Great , Mortgage , Move , Reverse Mortgage
Fixed Rate Loans build equity slowly
2008-05-15 17:00:00 Fixed-Rate Loans seem like a good deal: fixed monthly payments that will never increase, and about 40 or 50 years to pay it off. The problem with 40-Year and 50-Year Fixed-Rate Mortgages is that they build up equity too slowly. More About: Build , Fixed , Equity
Interest Only Mortgage not very economical
2008-05-14 17:00:00 An Interest -Only Mortgage is not the greatest and most economical way to afford a home. There are different products that offer interest-only payments like the Three-Year, Five-Year, Seven-Year, and 10-year Interest-Only Option on an ARM.
Why you should avoid ARMs
2008-05-13 17:00:00 Like the Multiple-Choice Mortgage and Cash-Out Financing, Adjustable Rate Mortgages (ARMs) should also be avoided. ARMs are pretty popular, but they are also tough on budgets, as the monthly payments are variable in just one to three years. More About: Arms , Avoid
Why house prices rise or fall
2008-05-12 17:00:00 During the housing boom a few years ago, it didn?t matter if the door was painted raspberry red or electric yellow, most houses were surging in value. More About: House , House Prices , Rise , Fall , Prices
Avoid Cash Out Mortgages
2008-05-09 17:00:00 Another type of mortgage that should be avoided is the Cash -Out Financing. These products are also called 103s, 107s, and 125s. More About: Mortgages , Avoid
One mortgage to avoid
2008-05-08 17:00:00 For first time buyers trying to take advantage of the foreclosure market, it may be smart to avoid certain types of mortgages. More About: Mortgage , Avoid
Predictions of the foreclosure market
2008-05-07 17:00:00 What is the future of the foreclosure market? Credit Suisse estimates that over the next five years, an astounding 6.5 million families, or one out of 8 American homeowners will end up in foreclosure. More About: Market , Foreclosure , Predictions
Seniors with or without mortgage can qualify for reverse mortgage
2008-05-06 17:00:00 According to the latest census data from 2000, 74.9 percent of owners 70 and older had no mortgage on a primary dwelling. Sometimes there are people in the middle of their working years that are lucky enough to have their homes paid off. More About: Mortgage , Seniors , Reverse Mortgage
Reverse mortgage will never exceed home value
More articles from this author:2008-05-05 17:00:00 Great news for seniors who have a reverse mortgage protected by the FHA, or for those who are thinking about getting one: the meltdown in home values does not affect your loan! More About: Home , Mortgage , Reverse Mortgage 1, 2, 3, 4, 5 |
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