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Reverse Mortgage Loans Florida News and Informatio

Reverse Mortgage Loans Florida News and Informatio
We discuss the latest news and commentary about reverse mortgage loans from Florida.

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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
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

Jobless rate falls but economy is still troubled
2008-05-02 17:00:00
The problematic economy that we are facing today is affecting everyone. Aside from affecting grocery and gas prices, this falling economy is stripping many hard workers of their jobs.
More About: Economy , Troubled , Rate , Falls

Is housing market to blame for commodities running out
2008-05-01 17:00:00
People around the country are beginning to worry about what may be a food shortage. The plunging economy as a result of the housing market needs to get back on its feet before our everyday necessities get any more expensive.
More About: Running , Market , Commodities , Housing , Blame

Foreclosure filings continue to rise
2008-04-30 17:00:00
Foreclosure filings continue to increase all over the country, and in Alachua County, Florida, it has gone up by 175%. Many reasons contribute to delinquent mortgages: loss of income, job loss, or health reasons that make it impossible to make the monthly payment.
More About: Foreclosure , Rise

Types Of Mortgage Which One Is Right For You
2008-04-29 17:00:00
So, you are planning to buy your perfect house or commercial property but don?t know what your options are in the mortgage department.
More About: Mortgage , Types

Signs Of Good Mortgage Brokers
2008-04-28 17:00:00
A good mortgage broker is something every potential homeowner or experienced real estate investor needs to have on their side.
More About: Brokers , Mortgage , Signs , Good , Mortgage Brokers

Second Mortgage What Is It Exactly
2008-04-25 17:00:00
Everyone has heard a friend or relative complain about having to take out a second mortgage but don?t really know what that means. Let?s find out!
More About: Mortgage

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