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RMG NEWS : Reverse Mortgages Face The Music
In the last fiscal year, mortgage lenders funded 114,692 reverse mortgages under the FHA’s HECM program. Five years ago just 43,000 of reverse mortgage loans were written. Until a year ago, the reverse mortgage niche looked like a safe bet … Continue reading
Posted in RMG News
Tagged adjustable rate home equity conversion mortgage, FHA, HECM, reverse mortgages
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RMG NEWS : Fannie Mae Pricing Brings a More Diverse Investor Base
The secondary market for reverse mortgages is welcoming the expansion of adjustable rate securitizations through Ginnie Mae’s HMBS (HECM MBS) program. Leading the way for its sheer size is Bank of America – producing $200 million to $300 million a month … Continue reading
Reverse Mortgages and the Softening Housing Market
Well there’s no doubt that the United States’ housing market is softening. And although prices may not continue to drop, and some markets may remain relatively strong, as a whole, the robust gains in real estate value across the country … Continue reading
Not Enough Equity For a Reverse Mortgage?
Qualifying for a reverse mortgage is based on a number of factors, including your age, the value and location of your home, and the amount owed on your home. Ultimately, reverse mortgages allow you to access equity in your home; … Continue reading
Before Signing on the Dotted Line…
…There’s a lot you need to know about reverse mortgages. This Q&A will help clarify how this complex transaction works. What is a reverse mortgage? It’s a loan on your house that lets you tap your home’s equity. Like a … Continue reading
Posted in General
Tagged adjustable rate home equity conversion mortgage, FHA, HECM, reverse mortgages
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How to Choose a Reverse Mortgage Lender
Be very careful when choosing. There are several legitimate mortgage lenders out there that offer reverse mortgages, but there are illegitimate ones as well. Be sure to pick one with a good reputation. Continue reading
Adjustable rate home equity conversion mortgage
The Home Equity Conversion Mortgage (HECM) is FHA’s reverse mortgage program which enables you to withdraw some of the equity in your home. You choose how you want to withdraw your funds, whether in a fixed monthly amount or a line of credit or a combination of both. Continue reading
Monthly Adjustable vs. Fixed Reverse Mortgage
Although the lower interest rate of a variable rate mortgage can look good in the beginning, you must also look at it from a long term perspective. Continue reading
Planning to Move? Reverse Mortgage May not Be a Good Idea
Reverse mortgages can be a useful tool for seniors who need extra income. But for someone who doesn’t plan to live in her home for long, a reverse mortgage could be mistake. Here’s why according to a recent US News and World Report article about reverse mortgages. Continue reading
Reverse Mortgages and Small Business Cash Flow
Getting credit approval is extremely difficult, even for small business owners. The strenuous lending requirements that the banks are enforcing have made it difficult to get any type of loan. Continue reading
Posted in Reverse Mortgage Benefits, Reverse Mortgage News, Senior Income
Tagged small business
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