Archive for the 'Uncategorized' Category
Government’s Refinance Program Gets an Extension
Still looking for help with your mortgage loan? The government has extended its Home Affordable Refinance Program for another year. The refinance program was set to expire in June, but the Obama administration hopes that a larger chunk of distressed homeowners can be helped.
Originally the gover…
Mortgage Loan Delinquencies Drop
The percentage of mortgage loans that were delinquent at the end of the fourth quarter 2009 fell to a seasonally adjusted rate of 9.47% from 9.64% the previous quarter, according to the Mortgage Bankers Association (MBA). The notes seem to indicate that fewer homeowners are getting behind on mortg…
Carnival of Real Estate – December 21, 2009
Drew Myers of Zillow and Geek Estate recently asked me whether I’d be interested in hosting the Carnival of Real Estate. Naturally I was excited that he thought of our site and eager to participate since we’ve been active contributors for a while now but have not yet hosted. Without …
New Guidelines for Reverse Mortgage Counselors
Reverse mortgage counselors have some new guidelines for qualifying to work with homeowners. The Federal Housing Administration (FHA) guidelines come after complaints that some housing counselors aren’t qualified to discuss reverse loans.
Seniors who want to borrow reverse mortgages must me…
JPMorgan Chase to Hire 1,200 Mortgage Officers
JPMorgan Chase says it plans to hire 1,200 mortgage loan officers by the end of next year. The additions will increase the bank’s sales force by 60%, the bank said in a release.
The additional staff will be located in 23 states and will help the bank go after new mortgage business and refi…
How distant Does It Take To Close A Loan?
One of the most common questions that I get from humans regarding the loan process is “how lengthy will it take to get my loan closed?”
My usual reply is “around 30 days, but in today’s world it could be slightly longer”.
And now I know that I am slightly slower than th…
Principal Limit Reduction on Reverse Mortgages
In a recent meeting of groups related to the reverse mortgage industry, it was decided that seniors applying for future reverse mortgages would have them reduced by 10%. The agencies involved were the National Reverse Mortgage Lenders organization (NRMLA), the AARP, and the FHA.
Reverse Mortgage Red…
