Articles filed under Mortgages
-
Inferior property appraisals have become more commonNov 24, 2012 4:16 am - Q. I used your site approximately 30 days ago to try to refinance the loan on my four-family rental property; the rate was locked and the appraisal came back with a sati...
-
In many cases, homeowners are the ones abusing reverse mortgagesNov 17, 2012 3:11 am - The home equity conversion mortgage (HECM) is one of the best-engineered financial tools of our generation, designed to meet a wide spectrum of senior needs, from repair...
-
Borrowers often blindsided at different stages of lending processNov 03, 2012 5:18 am - Shopping for the best deal on a home loan has many pitfalls, but by far the most daunting is that lenders will not commit to the prices they quote to shopping borrowers....
-
Should you use a reverse mortgage to pay off home, or wait?Oct 13, 2012 5:37 am - Q. I reached 62 this year and have a mortgage balance of $85,000 on my house, which is worth about $400,000. I plan to continue working and making my payment of $1,076 u...
-
Four strategies to stretch your HECM dollar furtherOct 04, 2012 12:46 pm - A major and potentially valuable feature of the Home Equity Conversion Mortgage program is that it offers multiple options regarding how a senior can withdraw funds, as ...
-
Age matters when you choose a reverse mortgage credit line How, when and why to take a reverse mortgageSep 29, 2012 4:55 am - One of the valuable features of the Home Equity Conversion Mortgage (HECM) is the multiple options for cashing out equity in the house. Borrowers can take cash, a credit...
-
Think twice before choosing HELOC over HECMSep 21, 2012 9:19 am - The major theme of the two previous articles in this series is that the Home Equity Conversion Mortgage (HECM) has great potential value to senior homeowners planning th...
-
Is lump sum reverse mortgage the right loan for seniors?Sep 08, 2012 4:34 am - FHA-insured reverse mortgages, also called home equity conversion mortgages, or HECMs, allow seniors to withdraw cash from their home equity while retaining the right to...
-
Mortgage rates for 30-year fixed loans decline to 3.55%Sep 06, 2012 10:11 am - U.S. mortgage rates for 30-year loans declined for a second week, lowering borrowing costs as fewer Americans sought financing for home purchases. The average rate for a...
-
For Danish homeowners, refinancing is blissSep 01, 2012 5:27 am - The first two articles in this series indicated that there was no quick way to replace Fannie Mae and Freddie Mac without seriously disrupting the market. An expansion o...