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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
Sales of existing homes fell by 12.7 percent in 2007
2008-03-26 16:00:00 Sales of existing homes fell by 12.7 percent in 2007, the biggest decline in 25 years. Over the past two years, the severe credit crunch forced the housing market into a steep downturn. But according to the National Association of Realtors, the sales of existing homes rose by 2.9 percent in February. More About: Sales , Homes
Attempted or suspected mortgage fraud
2008-03-25 16:00:00 Between September 2006 and October 2007, lenders and financial institutions across the nation filed 46,717 reports of attempted or suspected mortgage fraud. This number is up 32 percent from the previous year, and the FBI tallied 260 convictions on mortgage-related crimes in 2007. More About: Fraud , Mortgage Fraud , Mortgage
Florida sunset has finally set
2008-03-24 16:00:00 It seems like Florida ?s sunset has finally set. In 2007, 37% fewer people moved to Florida than in the previous year, setting the slowest pace of growth in ten years. More About: Sunset , Finally
Fixed rate home loans are getting higher
2008-03-21 16:00:00 Although the Feds cut interest rates even further on Tuesday, fixed rate home loans are actually getting higher. More About: Home Loans , Loans , Home , Higher , Rate
Another move to help relieve US homeowners
2008-03-20 16:00:00 The Office of Federal Housing Enterprise Oversight is making it easier for Fannie Mae and Freddie Mac to absorb problem loans in an effort to stabilize falling home prices. More About: Move , Homeowners
Housing market slump is really hitting working class families
2008-03-19 16:00:00 Florida?s real estate needs help, as its problems are complicated. Some community activists believe that just because they were her before the next person, that only newer residents should pay the higher costs of a new water supply. More About: Market , Housing , Class , Families , Working
Foreclosure filings jumped 60 percent
2008-03-18 16:00:00 In February, foreclosure filings jumped 60 percent and bank seizures more than doubled. President Bush said yesterday, that "The program is beginning to work, beginning to help. More About: Foreclosure
Suspected cases of mortgage fraud
2008-03-14 16:00:00 Executive deputy chief of the fraud section in the Justice Department's criminal unit, John D. Arterberry announced that law enforcement agencies are cracking down on suspected cases of mortgage fraud. More About: Fraud , Mortgage Fraud , Mortgage , Cases
Another $200 billion to help mortgage market liquidity
2008-03-13 16:00:00 The Federal Reserve plans to lend $200 billion, in an effort to improve market liquidity. They also plan to lend another $200 billion to help mortgage market liquidity. More About: Market , Mortgage , Billion
Criminal inquiry into the biggest mortgage lender
2008-03-12 16:00:00 The U.S. Federal authorities have opened a criminal inquiry into Countrywide Financial, the country?s biggest mortgage lender. More About: Mortgage , Criminal
In denial about our economy
2008-03-11 16:00:00 Those who are still in denial about our economy being in recession must not understand the gravity of the situation. More About: Economy , Denial
Nearly 3 million homeowners were behind on their mortgages
2008-03-10 16:00:00 The Mortgage Bankers Association reported that at the end of last year, nearly 3 million homeowners were behind on their mortgages, and over a million borrowers were at risk of imminent foreclosure. More About: Mortgages , Million , Homeowners
Declining home prices are the reason behind the foreclosures
2008-03-07 16:00:00 States like Florida and California, where there was an overbuilding of new homes, total 30% of the mortgages that are beginning the foreclosure process. Unfortunately, declining home prices are the reason behind the foreclosures. More About: Foreclosures , Home , Reason , Prices
Florida foreclosure courts are months behind
2008-03-06 16:00:00 In Dade and Broward counties, there is now an 8-10 month wait to get a court date to have a foreclosure filing. Some borrowers who own multimillion dollar homes have ceased to pay their mortgages. More About: Foreclosure , Florida , Courts , Months
Federal Reserve Chairman Ben Bernanke is urging banks
2008-03-05 16:00:00 Federal Reserve Chairman Ben S. Bernanke is urging banks to not only cut interest rates on some troubled mortgages, but to also cut the size of the size of the loans. More About: Banks , Federal Reserve , Ben Bernanke
Worst real estate slump since the Great Depression
2008-02-27 16:00:00 Many companies are not prepared for the worst real estate slump since the Great Depression . One business that may be worsening the housing crisis and pushing the US economy closer to recession is mortgage servicers. More About: Estate , Real Estate , Real
Will the monetary and fiscal stimulus packages work in the long run
2008-02-26 16:00:00 Will the monetary and fiscal stimulus packages work in the long run? It?s hard to say, but from the way it looks, the answer is probably doubtful. More About: Work , Long , Fiscal
Cost-of-living seems to be increasing everywhere
2008-02-25 16:00:00 As the cost-of-living seems to be increasing everywhere, Key West, Florida is no exception. Many are blaming rents and mortgages which are twice as high as on the mainland. More About: Living , Cost , Cost of living
Freddie Mac is changing the rules
2008-02-20 16:00:00 Freddie Mac, the government-backed funder of U.S. home loans is trying to help mortgage insurers by purchasing loans covered by mortgage insurers that don?t meet its standards for the amount of capital backing their policies. More About: Freddie , Freddie Mac , Changing , Rules , The Rules
Federal Housing Administration to allow purchase transactions in its revers
2008-02-18 16:00:00 A new legislation that authorizes the Federal Housing Administration to allow purchase transactions in its reverse mortgage program is expected to take effect shortly. The legislation would limit the amount of cash a purchaser would need to buy a home without being burdened by a typical mortgage. More About: Transactions , Purchase
NAR reports that national median price drop of 5.8 precent
2008-02-15 16:00:00 The National Association of Realtors (NAR) reports that national median price drop of 5.8% during the last 3 months of 2007 set a record for the biggest-ever quarterly drop. They blame the credit crunch in the jumbo loan market which started in August of last year for the price drop. More About: Price , Drop , Median
Number of homes in foreclosures has yet to decrease
2008-02-14 16:00:00 In an effort to reduce the number of foreclosures, the Bush Administration rolled out a new initiative called Project Lifeline. More About: Foreclosures , Homes , Number
Mortgage brokers have been put out of work
2008-02-12 16:00:00 The situation concerning the mortgage market really is as bad as one may think. More importantly, it is affecting employment within the industry. To be exact, over 26,000 mortgage brokers have been put out of work, according to federal statistics. More About: Work , Brokers , Mortgage , Mortgage Brokers
People start preparing for the upcoming recession
2008-02-08 16:00:00 As many people start preparing for the upcoming recession, others already think we?re in it. Many factors are responsible for this, especially since the credit crunch that started in August 2007. More About: People , Start , Recession , Upcoming
Real estate market in Florida is particularly bad
2008-02-07 16:00:00 The numbers of houses in foreclosure in Florida , ready for auction tripled since 2006 to 10,209 in 2007, with another 1,467 from last month. More About: Estate , Real Estate , Real Estate Market , Market
Downfall of the housing market is felt throughout many industries
2008-02-06 16:00:00 As we already know, the downfall of the housing market is felt throughout many industries. The mortgage industry, in particular is one that is being blamed for risky lending practices. More About: Market , Industries , Housing , Felt
Can we stave off a recession in Florida
2008-02-05 16:00:00 One of the many problems in Florida and other Sunbelt states that contributed to the downfall of the housing market is that many people overextended themselves on rising mortgage debt that they really couldn?t afford. More About: Recession
Reverse Mortgage Proceeds Protection Act
2008-02-04 16:00:00 Given the slowdown of the mortgage market, more and more lenders are offering reverse mortgages. In December of last year, U.S. Sen. Claire McCaskill (D-Mo.) filed for legislation of the Reverse Mortgage Proceeds Protection Act. More About: Reverse Mortgage
Federal Reserve and Congress are taking action
2008-02-01 16:00:00 The Federal Reserve and Congress are taking action to help stimulate the economy through interest rate cuts and tax rebates. The US House of Representatives passed a bill that would let those borrowing up to $730,000 take advantage of the rate cuts. More About: Action , Taking
Your age affects the amount you may receive with a reverse mortgage
More articles from this author:2008-01-31 16:00:00 If you are over 62 years old and thinking about a applying for a reverse mortgage loan, you should also think about how your age affects the amount you may receive. More About: Mortgage , Reverse Mortgage 1, 2, 3, 4, 5 |
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