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Channel 42 Special Report Alabama Reverse Mortgage
Channel 42 had done a special report on reverse mortgages. It was good to hear Christine Wade, an Alabama reverse mortgage borrower speak so highly of her reverse mortgage and what it has done to improve her life.
Posted in FHA Loans, Reverse Mortgages
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Forbes’ excellent explanation of the mortgage loan process.
In a recent issue of Forbes, writer Mark Greene illustrates in enlightening fashion the realities of getting approved for a mortgage loan in 2012. It’s one of the clearest explanations we’ve seen about why the process of getting a loan … Continue reading
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Tagged default, Fannie Mae, Forbes, Freddie Mac, guidelines, mortgage, processing, refinance, underwriting
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Another reason not to be a couch-potato…
We all know the effects that a sedentary lifestyle has on our bodies: increased risk of heart disease, diabetes, etc. Recent studies are also showing that inactive lifestyles are leading to increased rates of Alzheimer’s. Other factors include obesity (more … Continue reading
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Good news for many FHA borrowers who want to refinance.
New guidelines have lowered the fees on many of these federal loans. The changes drop the cost of refinancing for millions of homeowners. Not all mortgages are eligible, but if yours is, the savings could be substantial. To read more … Continue reading
Market snapshot: Promising signs in new housing report
Pending home sales in January bounced to a level not seen since the last days of the homebuyer tax credit in spring 2010. Called the Pending Home Sales Index, the report, which is based on pending contracts for home purchases, … Continue reading
Reverse Mortgages: the low cost option for Alabama seniors?
There have been some very beneficial developments in the reverse mortgage industry in the last 18 months or so. In late 2010, the “Saver” program was introduced. The Saver is so named due to eliminating, or “saving”, the borrower the … Continue reading
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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. … Continue reading
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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. … Continue reading
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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 … Continue reading
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Do the elderly lose their mental edge?
The short answer is “yes”, but “no”. One of the concerns in dealing with senior homeowners who are getting a reverse mortgage is whether they can accurately assess this decision. Disregarding those with dementia or Alzheimer’s, some will still worry … Continue reading
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