Reverse Mortgage News for 08/25/2010

HUD Accepting Condo Re-Certifications, Should Speed Up Approval .
The Department of Housing and Urban Development announced it's allowing lenders to re-certify condo projects that were initially approved on or after January 1, 2000...

Texas now a large reverse-mortgage market - MySanAntonio
Although reverse mortgages have been widespread across the United States for more than 20 years, the financial product is only 10 years old in Texas this year. The Texas Constitution's strong homestead ...

Reverse Mortgage Proceeds Likely to Decrease October 1 - PR-USA.net
Seniors should be informed that the budget proposals working their way through both the House and Senate, as currently drafted, bring a 150 percent increase in annual FHA (Federal Housing Authority) insurance premiums ...

HECM For Purchase Still Unpopular
In the year-to-date, an estimated 1200 HECM-for-Purchase loans have been originated, representing a mere 3% of all reverse mortgage volume. The problem seems to be less that the product is unappealing, and more that people simply don't ...

The Not-So-Bright Spot in the Gloomy Housing Report
No more need to wait for the double dip in housing. It appears to be here..

Is It A Good Idea To Get A Reverse Mortgage? | Web Magazine Today
Many seniors can't find opportunities to enjoy their golden years because they're not able to increase their income or decrease their expenditures. To avoid this problem, one option is to obtain reverse mortgage...

Reverse mortgages provide financial back-up - Yahoo Finance
Faced with rising living costs and erratic stock portfolios, seniors may consider checking out reverse mortgages as a means to shore up their personal finances. Rather than taking out a second mortgage or home equity ...

Mortgage Refinancing and Home Equity Loans: The Benefits and Pitfalls - Associated Content
Refinancing an existing mortgage and taking a home equity loan have similarities but are two different financial events. Interest rates are low and many people are considering refinancing or obtaining a home ...

Reverse mortgages provide financial back-up
Despite the housing bust, many seniors have equity they can tap with a reverse mortgage...

Reverse mortgages are down but not out. Are they for you?
Do you know someone who's considered a reverse mortgage? IT'S ONLY MONEY wants to know...

Reverse mortgages worth a thought
WITHOUT the backing of compulsory superannuation contributions, many may consider a reverse mortgage as a source of additional retirement income...

Reverse mortgageloans big in Texas - MySanAntonio
Although reverse mortgages have been widespread across the United States for more than 20 years, the financial product is only 10 years old in Texas this year. The Texas Constitution's strong homestead ...

Move ahead with a reverse mortgage when there's no alternative
DEAR BRUCE: I just checked on a reverse mortgage. I am 63 years old, own my home and have no immediate family. My home is worth about $137,000. I have an outstanding home-equity loan for $10,500. The bank appraised my home at $125,000, because I have the outstanding equity loan. The interest rate is currently 5.49 percent with a mortgage insurance rate of 0.5 percent for a total of 5.99 percent ...

Social Security Debate Heats Up | Reverse Mortgage Guide
For those with real estate equity, a home can effectively be converted into either a source of monthly income, a lump sum, or with a reverse mortgage a device to pay off an existing mortgage balance. This would end monthly costs for ...

Home Mortgage New EUR What's a Reverse Mortgage and How do they Work .
If you have a house that has borne fruit - or nearly a fee - a reverse mortgage can help you live better by providing a constant stream of reliable income, home...

Reverse Mortgages Pros and Cons
RISMEDIA, August 23, 2010(Real Estate Center) Some parents are warning their kids not to bank on inheriting the homestead. Why? Because some parents are considering a reverse mortgage. Such mortgages may not be beneficial for everyone, but their..

US Regulators Release Guidance On Reverse Mortgage Products - NASDAQ
WASHINGTON -(Dow Jones)- U.S. regulators Monday released final guidance for banks on reverse mortgage products to help protect consumers. The Federal Financial Institutions Examination Council put out the information to ...

Money Matters: How a reverse mortgage can help or harm an older homeowner
Homeowners over age 62 who are having a hard time paying monthly bills may rely on reverse mortgages to stay in their homes. Money Matters reporter Tara Lynn Wagner filed the following report...

Move ahead with a reverse mortgage when there's no alternative - Daily Local News
DEAR BRUCE: I just checked on a reverse mortgage. I am 63 years old, own my home and have no immediate family. My home is worth about $137,000. I have an outstanding home-equity loan for $10,500. The bank ...

Exploring mortgage options for seniors
Is a reverse mortgage right for seniors?..

Poor Real Estate Outlook Weighs Down Market
Everywhere you look, nationwide and in the Philadelphia region, July was rotten for real estate -- that's one thing on which the economists and the statistics agree...

Reverse Mortgage Explained | Article Directory | Submit Blog Articles
Article: Reverse Mortgages Explained Can't remember how many times I've been asked What is a reverse mortgage? Reverse mortgages are a great...

American Advisors Group Launches New Reverse Mortgage Website for Seniors - Forbes
IRVINE, Calif., Aug. 13 /PRNewswire/ -- AAG has spent the last 12 months working with reverse mortgage experts, web application specialists and industry advocates to establish a revolutionary new consumer ...

Reverse mortgages are down but not out. Are they for you? - Oregonian
The financial crisis has done a number on home values and home sales . It's also slowed the market for reverse mortgages. But it has not completely knocked them off their foundation. What is a reverse mortgage ...

Finance and Banking
On August 16, 2010, the Federal Reserve Board ("Board") issued two proposed rules and three final rules governing federal Truth-in-Lending Act ("TILA") requirements for residential mortgage loans...

Grants Pass, Oregon Reverse Mortgage | Real Estate Articles
Want to know more about reverse mortgage in Grants Pass, Oregon? What does it mean to retire in Southern Oregon? There are so many answers to this question, that it is hard to know where to begin. Let's just start listing reasons and ...

Reverse Mortgage Misconceptions Remain says Fed Study
As part of the many proposals from the Federal Reserve last week, a new report details the work done to develop new reverse mortgage disclosures and shows that while misconceptions about the product remain, consumer protections have ...

How Will I Qualify for a Home Mortgage at a Bank? - Associated Content
The bank understandably, wants to know that you will be financially capable of assuming your monthly debts. If you couldn't afford the house you've bought and were unable to make your monthly payments, the ...

Ross on Real Estate: The Top 5 Most Common Reverse Mortgage Myths
With enough equity, you may be able to pay off your existing mortgage or other debt with the reverse mortgage. The reverse mortgage must be in a first lien position, so any existing mortgage must be paid off. ...

A Reverse Mortgage Calculator - Helping You Plan Your Future
The most advanced mortgage loan calculators process detailed data, including the total amount you would like to get with a reverse mortgage, and if you would like it as a credit line, in monthly installments, or as a single cash payment ...

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