Reverse Mortgage Line of Credit that Grows
Choosing your payment option may seem to be an easy task, particularly when you are aware of your specific needs and wants at the day your funds are released. But did you know you can chose a line of credit and compose your money grow? Yes it is true. The equity line of credit grows at a rate …
What to Expect in a Short Sale
You’ve probably heard that there are some amazing deals out there on distressed properties. Reports of society snapping up bargains on short sales may have whetted your appetite for purchasing a home despite the troubled economy.
A short sale occurs when a lender allows a home to be sold fo…
Reverse Mortgages Are Subject of Hot Debate
When John Dugan, comptroller of the currency, warned a few weeks back that reverse mortgages pose significant risks to consumers, it touched off a big debate. Dugan said that although reverse mortgage loans do have some benefits, they plus have some of the same characteristics of the riskiest subpri…
Getting Rid of Mortgage Insurance
Many society want to know what the best way to “get rid” of mortgage insurance — either Private Mortgage Insurance (often referred to as PMI) or FHA Mortgage Insurance (acts just like PMI, but payments are made to HUD, not a private mortgage insurance company).
If you want to avoid…
Can Reverse Mortgages Promote Volunteerism Among Seniors?
Reverse Review magazine has an interesting write-up that examines whether or not reverse mortgages will help baby boomers reply President Barack Obama’s shout to community service. Obama has called for Americans to get more involved with serving their communities. A new website, Serve.gov, has…
Does It Cost Money To Lock Your Loan?
One of the more popular questions I am asked recently is “does it cost money to lock your loan?” and the truth is — there is not a right reply.
The reason there isn’t any one reply to that question is considering each lender handles loan locks differently. Some lenders lock y…
Are Reverse Mortgages “The New Subprime”?
Recently, the Comptroller for the US John Dugan told a meeting of the American Bankers Association that there were problems lurking with Reverse Mortgages — and even went as far as comparing reverse mortgages to subprime mortgages.
“While reverse mortgages can supply real benefits, the…
