Author Archives: admin

ABC 33/40 covers new mortgage rules

New rules go into effect on January 10th related to getting a mortgage. Most of the rules just formalize the practices already in place–higher attention to a borrower’s debt ratios, insuring that a loan doesn’t have negative amortization and the … Continue reading

Posted in Uncategorized | Leave a comment

More good news: Home sales up again in Birmingham.

The pattern of increased home sales in the Birmingham area continued in October, with 938 homes being sold in the Birmingham metro area. That’s exactly 100 more homes than were sold in the metro area in October 2012. The average … Continue reading

Posted in Fannie Mae, FHA Loans, Traditional Mortgages | Tagged , , , , , | Leave a comment

Some good news about the shutdown? Lower rates may stick around.

That’s according to an article in Bloomberg. While rates ticked up this summer, they’ve floated back down a bit in the last few weeks. And the uncertainty of the shutdown in Washington, along with the lack of a federal jobs … Continue reading

Posted in Fannie Mae, FHA Loans, Traditional Mortgages | Tagged , , , , | Leave a comment

Good news for women 65 years and up…

As we all know, staying mentally active has been shown to help our cognitive skills. Many seniors keep their minds engaged through working at a job, but good jobs have become increasingly scarce in our current economy. There is good … Continue reading

Posted in Uncategorized | Leave a comment

King interview on Channel 13

Reverse Mortgage segment featuring Jimbo King of McGowin-King. Here’s the link:

Posted in Reverse Mortgages | Tagged | Leave a comment

Consumer confidence up on housing market

According to Fannie Mae’s most recent national housing survey of 1,000 respondents, confidence in America’s housing market continues its upward climb. Perhaps most telling: 23% of respondents feel this is a good time to sell a house. That’s the first … Continue reading

Posted in Fannie Mae, Traditional Mortgages, Uncategorized | Tagged , , , | Leave a comment

New FHA program brings big savings–without an appraisal

The new FHA streamline program makes saving easier than ever for homeowners who bought their house with an FHA loan prior to May 2009. Back in 2008-2009, a “good” rate was 5.5% or so. Now, it’s 3.5%. On a $200,000 … Continue reading

Posted in FHA Loans, Traditional Mortgages | Tagged , , , , | Leave a comment

Top 5 Reasons People Get Reverse Mortgages

In the past, seniors viewed reverse mortgages as a last-option choice.  Now that seniors are getting to know the program better, the reasons they are choosing to get reverse mortgages are changing.  Here are the top five objectives for Alabama … Continue reading

Posted in Uncategorized | Leave a comment

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 | Leave a comment

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

Posted in Uncategorized | Tagged , , , , , , , , | Leave a comment