Jack Guttentag
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Reverse mortgage defaults meet the industry at the crossroadsJul 21, 2012 1:55 am - Home Equity Conversion Mortgages (HECMs) are FHA-insured reverse mortgages that allow homeowners 62 years of age or older to withdraw cash from their home while retainin...
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Mortgage professor: Financial crisis hits reverse mortgages hard An industry at the crossroadsJul 14, 2012 3:44 am - A reverse mortgage is a secured loan to an elderly homeowner on which the borrower’s debt rises over time, but which need not be repaid until the borrower dies, sells th...
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Valid mortgage price quotes do existJul 07, 2012 5:55 am - Q. How many lenders must I shop to be certain I receive a competitive price?” A. If you have access to valid price quotes, three is usually enough. If you don’t have acc...
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Consider future value financing to buy a fixer-upperJun 30, 2012 4:48 am - You are attracted to a house that is perfectly located but it just came out of foreclosure and needs a lot of work to make it habitable. To swing the deal, you need to f...
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Don’t just assume FHA loan is a better deal than conventionalJun 16, 2012 5:14 am - Along with many other observers of the mortgage scene, I have long attributed the imperfections of the market in large part to information asymmetry — the fact that borr...
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Three factors determine how long will you will be underwater on your mortgageJun 09, 2012 5:42 am - About 16 million homeowners owe more on their mortgage than their homes are worth, which means they are “underwater.” So long as that condition continues, they have no e...
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Mortgage professor: Despite huge demand, LTO obstacles are plentyJun 02, 2012 5:34 am - Of the 700 or so articles on my website, the article accessed most frequently over the last year has been one I wrote in 2004 on lease-to-own home purchases. This is a c...
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How borrower-ordered appraisals are a better way to shop for mortgagesMay 26, 2012 5:10 am - Last week’s column detailed the following benefits from switching from a system of lender-ordered appraisals to a system of borrower-ordered appraisals. Ÿ Borrowers woul...
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Mortgage professor: A better way to shop for mortgagesMay 19, 2012 5:02 am - The two most important pieces of information mortgage applicants should have in entering the market is their credit score and the appraised value of the property they ar...
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Mortgage professor: Those lured by smaller mortgage payments should reconsiderMay 12, 2012 5:42 am - The case for 15-year fixed-rate mortgages has never been stronger because, in the post-crisis market, the rate advantage over the 30-year has never been larger. The rate...