You may have been hearing a lot about reverse mortgages these days and may be wondering how does a reverse mortgage work, what they are and if you should get one. If you own a home and have sufficient equity you have three choices if you want to tap your equity: sell your home, take [...]
Posted in Blogging | Tagged a, does, dont, how, Mortgage, reverse, tell, they, what, Work, you
Many people get very confused when they try to grasp how a reverse mortgage really works. They look at the different interest rates, the mortgage insurance, the servicing fees, principal limits, net principal limits and before long, they just want to know the bottom line as they’re so confused they don’t want to try to [...]
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I can almost hear it now, This is an article written by a guy who does reverse mortgages? There probably won’t be any con’s! As passionate as we are about the reverse mortgage product, there are some drawbacks in some instances and we make certain that we point out the pro’s and con’s [...]
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The last jumbo or proprietary reverse mortgage lender in the market just announced today that they are suspending their jumbo reverse mortgage program.
Their official announcement came out at 5:00 tonight stating that any loans in their pipeline must close by November 26, 2008 or the loans would have to be changed to the government Home [...]
Posted in Blogging | Tagged halts, jumbo, market, mortgages, reverse, secondary
Many senior borrowers who start looking into reverse mortgages are not aware of it, but there is a fixed rate Home Equity Conversion Mortgage (HECM) available.
The HECM or Heck-um as you may hear it called, is the government insured reverse mortgage program offered by lenders and insured by the Federal Housing Administration.
Most Reverse Mortgage borrowers [...]
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There are a lot of things to take into account when you are thinking about owning a home. Just a few of the things that you will likely consider are how expensive of a home you can afford to purchase and where you would like to settle down and own a home. While, [...]
Posted in Blogging | Tagged a, and, consider, Home, mortgages, owning, realtors, reverse, things, to, when
Becoming a home owner can be a very gratifying step in your life. Although it may take some extra time and stress when you are first going through the process of buying your home, once you are settled in, you will soon realize the benefits that come along with owning your own home.
There are [...]
Posted in Blogging | Tagged a, as, Home, mortgages, one, option, owner, reverse
While it can be very easy to rent a place to live instead of going through the process of buying a home, easier is not always better. As a renter, you likely do not have to worry about when anything goes wrong with your residence because it is the obligation of the landlord to [...]
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Depending on your political persuasion, you may be expecting this Bill to be one of the best things to come along since sliced bread or one of the worst possible disasters since the dropping of the atomic bomb.
Americans are split deeply about this legislation and as one might expect, much of the split does run [...]
Posted in Blogging | Tagged economic, help, mortgages, reverse, seniors, stimulus, with