What’s the difference between APR and the interest rate?

It’s one of the most common questions we get about loans. The answer is simple, but it’s not always easy to grasp. Essentially, APR is the effective rate of interest once you’ve added to the loan amount certain closing costs. So while the interest rate “is what it is,” APR is variable based on the...Read More

Good news for the reverse mortgage population

Anyone who works closely with reverse mortgage borrowers will realize how indispensable Social Security and Medicare are to this group.  Since 1975 when Congress added Cost of Living Adjustments to Social Security benefits, these “COLA” increases have averaged 4.2% annually.  Up until 2010, there were increases every year.  During the difficult economic time from 1979...Read More

Conusumer outlook on housing on the upswing.

If the national mood is any indication, 2012 should be a better year for the housing market. That’s according to a new survey by Fannie Mae, conducted during the first three weeks of December. While in November, respondents said they expected their homes’ values to increase by only .2 percent, in December they predicted .8...Read More

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