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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
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
Hope for Homeowners in Distress
2008-02-20 16:00:00 Great news for homeowners in distress- President Obama will unveil a $75 billion foreclosure prevention program in hopes of reaching up to 9 million homeowners More About: Hope , Homeowners
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
Who will pay back my reverse mortgage loan
2008-02-12 16:00:00 There is a gray area about reverse mortgages which probably scare some seniors from even taking it into consideration as a viable financial option. Once seniors realize that a reverse mortgage loan is a debt, one common question we receive is: When do you pay the loan back? More About: Loan , Mortgage , Back , Reverse Mortgage
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
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
Florida voters approve Amendment 1
2008-01-30 16:00:00 As of 10:10pm on January 29, the Florida Department of State, Division of Elections' unofficial election night returns indicate Florida voters have approved Amendment #1. More About: Voters
Reverse Mortgages are a great option for cash strapped seniors
2008-01-30 16:00:00 Reverse Mortgages have been steadily rising over the past few years ? doubling every year for the last three to four years. In November, housing legislation cut fees on reverse mortgages while raising the amount homeowners can borrow against, which is now $417,000 nationwide. More About: Great , Cash , Seniors
Florida Attorney General Bill McCollum cautions seniors about reverse mortg
2008-01-29 16:00:00 Florida Attorney General Bill McCollum has cautioned seniors about scams relating to reverse mortgages. He issued a consumer advisory that warns senior citizens in Florida about predatory lenders or brokers trying to capitalize on their situation. More About: Florida , Attorney General , Seniors
Florida seniors have the opportunity to receive debt-free cash today
2008-01-28 16:00:00 If you live in Florida and considering a reverse mortgage consider this. The EquityKey program is a debt-free alternative for those between the ages of 65 and 85 who are considering a reverse mortgage. More About: Free , Today , Opportunity , Debt
Sub-prime mortgage companies have put the housing economy upside down
2008-01-25 16:00:00 It is easy to play Monday morning quarterback with why the sub-prime mortgage companies have put the housing economy upside down. At the time everyone was excited because home ownership rose to record levels and a lot of people were making a lot of money. More About: Economy , Companies , Mortgage , Housing , Prime
Property taxes in Florida takes a big toll on any homeowner income
2008-01-24 16:00:00 On January 29, 2008, Floridians will have a chance to change the law on property taxes by voting on Amendment I. More About: Taxes , Property , Florida , Income , Toll
Now is the time to refinance your home mortgage
2008-01-23 16:00:00 By the beginning of February expect to see the lowest interest rates in years for home mortgages. Anyone who refinanced only six months ago may see as much as a 2 point different in their current rate compared to the rates today. More About: Time , Home , Mortgage , Refinance , The Time
Using a reverse mortgage to purchase a vacation home
2008-01-22 16:00:00 The only problem is that not all seniors can afford to live in two homes and keep up with the costs. What many seniors are doing to make this possible, is to take out a reverse mortgage on their current home and purchase a vacation home. More About: Home , Vacation , Mortgage , Purchase , Reverse Mortgage
Are loan modifications enough
More articles from this author:2008-01-21 16:00:00 Regulators are having trouble stemming the flood of foreclosures especially in South Florida, where debt often exceeds the home?s worth. Many programs have been created to help homeowners get into loans with more favorable terms, but only a small percentage of struggling homeowners have received help. More About: Loan , Modifications 1, 2, 3, 4, 5, 6 |
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