Reverse Mortgage News for 08/28/2010



Suze Orman wants reverse mortgage firm to stop using her photo
The popular personal finance author was not aware that EquiPoint Financial Network used her image in mailings to Oregonians, her attorney says...

Make your Dreams Come True With Texas Reverse Mortgage | Article .
You must have come across many several types of loans and mortgages services offered by banks, financial institutions and private creditors; but...

Cheaper Reverse Mortgages May Be Coming - US News and World Report
The Federal Housing Administration (FHA) is developing a new reverse mortgage product that sharply cuts up-front payments by home owners but also significantly reduces the percentage of a home's equity that ...

Suze Orman has nothing to do with reverse mortgage marketer - Oregonian
View full size Oregon Department of Justice State regulators say mailings like this from EquiPoint Financial Services ran afoul of its marketing rules for mortgages. Popular financial advice author Suze Orman ...

Is the Mortgage Crisis Finally Improving?
The proportion of mortgaged U.S. households 90 or more days behind on payments has had its biggest drop since the mortgage crisis began four years ago, though the figure still remains high. The Mortgage Bankers Association reports that the percentage of mortgages that are seriously delinquent declined from 9.5 to 9.1 percent between the first and second quarters of 2010. That's still alarmingly ...

Red Bank mortgage-settlement agent admits money laundering, $3.8M theft
RED BANK EUR” A title and mortgage-settlement agent who had turned himself in pleaded guilty today to money laundering and theft by failing to pay off $3.8 million in refinanced mortgages. Ronald P. Mas, Jr., 35, sole owner of Olde...

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...

HUD Shares Plans for New Reverse Mortgage Option
Lower Upfront Costs Feature of New Version of FHA Home Equity Conversion Mortgages...

Advice for Folks Contemplating a Reverse Mortgage | Free Ezine .
In the year 1961 only a few people had ever heard of a reverse mortgage. That's mainly because prior to 1961 they didn't exist. Then, a mortgage loan originator...

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 ...

HUD Shares Plans for New Reverse Mortgage Option - Earthtimes
WASHINGTON , Aug. 27 /PRNewswire-USNewswire/ -- The Federal Housing Administration (FHA) announced today that it intends to make modifications to its Home Equity Conversion Mortgage (HECM) product, a reverse mortgage ...

Yields of Mortgage REITs Rise After Sector Heavyweights Tumble
Its been a rough month for the Mortgage Investments stock sector, but larger components which are typically less susceptible to rapid selloffs, have also been hit by the most recent downturn, with many high-yield names underperforming the segment and the overall market...

FHA plans to revamp HECM for new reverse mortgage product - Housing Wire
The Federal Housing Administration (FHA) will modify its Home Equity Conversion Mortgage (HECM) product to provide a more affordable reverse mortgage for seniors looking to tap the equity of their homes ...

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 ...

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 EUR Is It Right For You? | Free Wallpapers Nintendo .
Increasing their monthly income or decreasing their monthly expenditures are quite a challenge for most seniors, which is why they can't retire at an age they want and enjoy their golden years. A way around this problem is to obtain ...

HUD Shares Plans for New Reverse Mortgage Option
Lower Upfront Costs to Be Key Feature of New Version of FHA Home Equity Conversion Mortgage..

Suze Orman wants reverse mortgage firm to stop using her photo .
The popular personal finance author was not aware that EquiPoint Financial Network used her image in mailings to Oregonians, her attorney says...

New Low Cost Reverse Mortgage Product Coming in October says HUD
During a conference call with industry leaders on Thursday, the Department of Housing and Urban Development said it hopes to roll out a new reverse mortgage product on Oct. 4, 2010. The new "HECM Saver" will be a low cost reverse ...

Expert Group, Inc. (O.T.C. EXPU) Signs B2B Agreement With First Guaranty Mortgage Corporation
MIAMI, FL--(Marketwire - August 27, 2010) - Expert Group, Inc. ( PINKSHEETS : EXPU ) is proud to announce that it has just added First Guaranty Mortgage Corp. to its list of wholesale lenders. As part of the agreement Expert Financing will act as a reseller of FGMC's Loan Programs...

Reverse Mortgages and Your Health: Sick borrowers should think twice.
If you were to repay a reverse mortgage within a few years of receiving it, it would raise the effective interest rate above 10%, turning it into a very expensive loan. In such a situation you would be better off obtaining a home equity ...

Tips for Avoiding Mortgage Fraud - Associated Content
trouble with loan terms. Often they are hard to understand and have hidden fees that are not thoroughly explained to the borrower. Anyone considering loans that they do not 100 percent understand should ...

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 ...

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...

Search & Find - Reverse Mortgage Tax-Deductible?
Here are the search and find results: One of the newest and more innovative financial tools for the Senior Citizen, today, is the reverse home mortgage...

Oregon again asks EquiPoint to stop deceptive reverse mortgage ads - Oregonian
The mailing arrives with a check at the top, offering Oregon seniors nearly $100,000 if they sign up for a reverse mortgage . "U.S. Economic Stimulus Package Approves New Payouts for Seniors," read the top of ...

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 ...

FHA plans to revamp HECM for new reverse mortgage product .
An HECM is a reverse mortgage loan insured by the federal government, used by seniors to cover gaps in living expenses. The outstanding balance is not due until the last borrower leaves the home, sells or dies. ...

Past Two Years, Texans Borrow More Than $1.5 Billion Using Reverse .
Despite the short ten year history of reverse mortgages in Texas, the Lone Star State has become the third-largest reverse mortgage market in the nation reports My San Antonio. Originations have reached beyond a total of $3.3 billion ...

Bernanke speech shows effort to find Fed consensus
Ben Bernanke is struggling to build consensus among Federal Reserve officials about what steps are needed EUR” if any EUR” to give the economy a boost...



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