Reverse Mortgage Loans USA News and Information

Declining Market requires 5 percent down

Fri, 16 May 2008 15:00:00 GMT

Earlier this year, Fannie Mae implemented a policy of requiring that buyers make a 5% larger deposit on their home than the original loan program guidelines called for if the property is designated as being in a “declining market.”

Seniors delaying retirement

Thu, 15 May 2008 15:00:00 GMT

According to a new study by the AARP, seniors 45 and older are delaying retirement. The report finds that 6 out of 10 people are having trouble making ends meet, and some can’t even pay for their medication.

Will mortgage crisis affect prime loan market

Wed, 14 May 2008 15:00:00 GMT

The home mortgage crisis was originally focused on the subprime home market and its delinquencies.

Realtors should focus on foreclosures

Tue, 13 May 2008 15:00:00 GMT

It’s a well- known fact that eventually, the real estate market will reverse itself and home prices will settle to pre-housing boom prices. But while we are in the recovery period, many people have lost their jobs and many more are barely holding on to theirs.

Heirs benefit from home appreciation

Mon, 12 May 2008 15:00:00 GMT

One of the great benefits of a reverse mortgage is that the borrower can never owe more than the home’s value. It is comforting knowing that you wouldn’t have to take the fall for declining home values, especially in today’s real estate market.

Understand a reverse mortgage before making a decision

Fri, 09 May 2008 15:00:00 GMT

It is very important to thoroughly educate yourself about all aspects of a reverse mortgage loan. Many seniors who have one are satisfied with their decision, but then again, everyone’s situation is different.

House will consider new foreclosure bill

Thu, 08 May 2008 15:00:00 GMT

The American Housing Rescue and Foreclosure Prevention Act will be considered by the House this week. Part of the act would include a voluntary FHA program which would provide mortgage refinancing assistance.

Reverse mortgage loans on the rise

Wed, 07 May 2008 15:00:00 GMT

A key determination as to how much you can receive with a reverse mortgage loan is this: the older the borrower and the more valuable the home and the less owed on it, the more money is available.

Access equity in your home tax free

Tue, 06 May 2008 15:00:00 GMT

One of the greatest benefits of a reverse mortgage loan is that it is tax-free. Seniors can draw money out of their home, which is usually their most valuable asset, without any tax consequences.

Seniors coping with rising prices

Mon, 05 May 2008 15:00:00 GMT

How are seniors on a fixed income coping with the rising cost of food, gas and many other everyday staples? Some are relying on families to make ends meet, others are thinking about selling their home, just for extra money.

Choosing a reverse mortgage lender

Fri, 02 May 2008 15:00:00 GMT

When choosing a reverse mortgage lender, it is important to review and compare certain factors. For example, it is important that lenders provide different fixed and variable interest rate options to choose from.

When will reverse mortgage limits increase

Thu, 01 May 2008 15:00:00 GMT

Many seniors are waiting for an increase in loan limits for reverse mortgages. The Economic Stimulus Act of 2008, which just recently passed included a temporary increase in loan limits for all “forward” mortgages, but left out Home Equity Conversion Mortgages.

Foreclosures driving down neighboring property values

Wed, 30 Apr 2008 15:00:00 GMT

It is interesting how everything in the housing market is connected. As the real estate market is already down, when foreclosed or short-sale homes sell for less, this drives down neighboring property values and home equity.

Is Housing Market Stabilizing

Tue, 29 Apr 2008 15:00:00 GMT

In this economic downturn, hard-working consumers are really getting hammered. Multiple factors are affecting them, like slow economic growth, job insecurity, home values going down, and paying more for gas and food.

Subprime Mortgages

Mon, 28 Apr 2008 15:00:00 GMT

It sounds terrible. Subprime Mortgage. But in reality it has many different benefits that other loans do not.

Private Mortgage Insurance

Fri, 25 Apr 2008 15:00:00 GMT

When you first buy a home, it can be very frustrating and complicated but it can also be extremely exciting. There is no feeling like being able to call a home your own and have the freedom to decorate it and change it any way you want.

Fixed Rate Mortgage

Thu, 24 Apr 2008 15:00:00 GMT

A fixed rate mortgage is one of the most common types of home loan in the USA. It’s very easy to understand and set up and helps people know exactly what type of commitment they are making financially.

Prime market for pitching reverse mortgage

Wed, 23 Apr 2008 15:00:00 GMT

Marketing for reverse mortgages are expected to get more intense as the housing market continues to fall. About 80 percent of seniors own a home and many seniors have equity in their homes.

Adjustable Rate Mortgage

Tue, 22 Apr 2008 15:00:00 GMT

Another common type of home loan is the adjustable rate mortgage or ARM. With this type of loan, the interest rate will fluctuate depending on the 6 different real estate indexes.

Refinancing a reverse mortgage loan

Mon, 21 Apr 2008 15:00:00 GMT

Even with a reverse mortgage, some seniors may feel like they are not receiving enough money. One way to access more money is to refinance an existing reverse mortgage loan.

FBI investigates more mortgage fraud cases

Thu, 17 Apr 2008 15:00:00 GMT

Three months ago FBI officials said they were investigating 14 companies for possible fraud in connection with loans made to risky borrowers. They were also investigating insider trading violations and investments spun off of the risky loans.

Never owe more than property value with a reverse mortgage

Wed, 16 Apr 2008 15:00:00 GMT

A great security provided by reverse mortgages to seniors is that the amount they owe will never exceed the value of their home. That is one great difference between a traditional mortgage and a reverse mortgage.

Short Sale a way to avoid foreclosure

Tue, 15 Apr 2008 15:00:00 GMT

A short sale allows the homeowner to live in the home until it's sold - which helps the bank avoid costly foreclosure procedures and potentially bigger losses. The bank sets and pays the legal and real estate fees.

FINRA cautions homeowners about tapping into home equity

Mon, 14 Apr 2008 15:00:00 GMT

Last week, there was an Investor Alert issued by the Financial Industry Regulatory Authority (FINRA). It cautions homeowners over the age of 60 to be wary of tapping into their home equity through reverse mortgages.

Lenders tighten up financing

Fri, 11 Apr 2008 15:00:00 GMT

Washington Mutual is expected to announce layoffs in their residential mortgage group just days after announcing that they have shut down their wholesale mortgage group. WaMu is just one more financial institution to fall as the dominos pick up steam.

Research lender before making financial decision

Thu, 10 Apr 2008 15:00:00 GMT

If you’re looking into mortgages then you are already concerned that you don’t have enough cash for the future. The last thing you want to do is make the wrong decision and put yourself in a worse financial position.

Washington Mutual and the mortgage brokers

Wed, 09 Apr 2008 15:00:00 GMT

Some may focus on how this is going to affect investors but I focus on how this is going to affect the mortgage brokers. The banks are systematically putting mortgage brokers out of business.

Reverse mortgage for your golden years

Tue, 08 Apr 2008 15:00:00 GMT

If you are over the age of 62 and have equity in the home then consider a reverse mortgage to provide the extra cash you need for your golden years.

Ask to defer your mortgage payment

Mon, 07 Apr 2008 15:00:00 GMT

If you're facing losing your home due to foreclosure and don’t qualify for a re-finance or home equity loan, the best thing to do is to talk with your lender.

Latest proposals to improve mortgage and housing industry

Fri, 04 Apr 2008 15:00:00 GMT

The Senate is still trying to stabilize the mortgage and housing industry with proposals, is it enough?

Foreclosure Fraud Prevention Act passed unanimously

Thu, 03 Apr 2008 15:00:00 GMT

The Foreclosure Fraud Prevention Act passed unanimously in the House yesterday. It would ensure that when homeowners sign a contract with a foreclosure rescue entity, that they are properly informed about their rights.

Reverse Mortgage laws are varied

Tue, 01 Apr 2008 15:00:00 GMT

Reverse Mortgage laws are varied, and though the borrower(s) uses their house as security, they still have certain responsibilities.

Federal Reserve wants to have control over all financial institutions

Mon, 31 Mar 2008 15:00:00 GMT

Our legislators today will discuss the possibility of the privately owned, non federal government agency called the Federal Reserve to have this control. It makes me wonder if this whole collapse of the economy wasn’t planned for this precise moment.

Fixed interest rate reverse mortgages are now available

Fri, 28 Mar 2008 15:00:00 GMT

Until this week all reverse mortgage loans came with a variable interest rate. This of course made it hard to predict how expensive a reverse mortgage would be by the time the mortgage was closed.

In crime with predatory lenders

Thu, 27 Mar 2008 15:00:00 GMT

Was the Bush administration partners in crime with predatory lenders? In article written by former New York Governor Eliot Spitzer, light is shed on the Bush administration and their handling of the current housing crisis.

Seniors have lots of government and private agencies

Wed, 26 Mar 2008 15:00:00 GMT

Did you know that if you’re a senior you have lots of government and private agencies that you can turn to if you have a problem with abuse of fraud?

Government allowed financial institutions to do the wrong thing

Tue, 25 Mar 2008 15:00:00 GMT

The mortgage industry has been around for a very long time. So why now do we have such overwhelming and blatant disregard for the public well being?

Tap into the equity of your home

Mon, 24 Mar 2008 15:00:00 GMT

If you are at least 62 years old and looking for a way to tap into the equity of your home you have several options. If your credit is strong and you have a good income then a traditional refinance or home equity loan product may work for you.

Real estate market begins to level out

Fri, 21 Mar 2008 15:00:00 GMT

As we approach the end of the first quarter of the year we are seeing the real estate market begin to level out. Home prices are stabilizing and buyers are starting to commit.

Mortgage refinancing is more affordable today thanks to the Fed

Thu, 20 Mar 2008 15:00:00 GMT

As the banks finally lower the par value interest rate on a 30 year fixed mortgage below 5.5%, more Americans can take advantage of refinancing.

Mortgage consumers are having a hard time pulling the trigger

Wed, 19 Mar 2008 15:00:00 GMT

As mortgage rates bounce up and down every few hours, consumers are having a hard time pulling the trigger. The state of the stock market, the state of the U.S. dollar and now the state of mortgage yield rates are in flux.

Mortgage rates bounce like a rubber ball

Tue, 18 Mar 2008 15:00:00 GMT

As of last night a consumer could get a 5.5% mortgage rate with a yield spread of over .8% for a 30 year mortgage. Since last night two rate changes have change the yield spread for the 5.5% rate to less than .2%.

Banks now own more of the US residential real estate than Americans

Fri, 14 Mar 2008 15:00:00 GMT

Miami is probably the worst real estate market in the US, and possibly, the world. Foreclosures are up 600% from last year, and the market value of condos has plunged as much as 50%.

Wait for mortgage rates to drop before you consider refinancing

Thu, 13 Mar 2008 15:00:00 GMT

If you’re waiting for mortgage rates to drop before you consider refinancing you’re not alone. Thousands of Americans who refinanced only 9 months ago are in a great position to drop 2 points off their current mortgage rate.

Do not use the cash from a reverse mortgage for investment purposes

Wed, 12 Mar 2008 15:00:00 GMT

Don’t use the cash from a reverse mortgage for investment purposes. Even though you don’t need to worry about paying a mortgage anymore, you do have the responsibility of paying your taxes, insurance, utilities, and maintenance.

Researching reverse mortgage options and companies

Tue, 11 Mar 2008 15:00:00 GMT

If you take a little time on the web site you will see that we have tried to provide you the best information and tools so you can decide if a reverse mortgage is the right choice for you or your loved one.

The good and the bad of the foreign home investor

Mon, 10 Mar 2008 15:00:00 GMT

As the foreign dollar continues to be worth more and more everyday against the U.S. dollar, U.S. real estate becomes more attractive to the foreign investor.

Ask yourself a few questions before you finance

Fri, 07 Mar 2008 15:00:00 GMT

If you’re looking for cash and you’re considering using your home, ask yourself a few questions. First, how much cash do I really need?

Home prices continue to fall thanks to foreclosures

Thu, 06 Mar 2008 15:00:00 GMT

As home prices continue to fall thanks to the record number of foreclosures, people who are trying to sell their home and stay clear of foreclosure are having a difficult time. Many homes that are for sale by homeowners are now at rock bottom.

Foreclosures plaguing the once booming real estate market

Wed, 05 Mar 2008 15:00:00 GMT

If passed, the 'Foreclosure Prevention Act' would allow bankruptcy judges to wipe out mortgage dues and provide billions for redoing abandoned properties.

That would be a real stimulus to the economy

Wed, 27 Feb 2008 15:00:00 GMT

As we all wait for our stimulus checks to come in the mail this summer, gas prices and mortgage rates continue to climb. More help could be provided to the average American if the President would concentrate on the real issues.

Consumer credit card and auto loan recession

Tue, 26 Feb 2008 15:00:00 GMT

Along with the subprime recession going on, some people are also gearing up for a consumer credit card and auto loan recession in the near future.

Peak of bad mortgage loans were written in 2006 and early 2007

Mon, 25 Feb 2008 15:00:00 GMT

The lending standards began to get worse as 2005 came to a close and by 2007, lending standards were completely out the window.

Housing market continues to decline

Wed, 20 Feb 2008 15:00:00 GMT

As the housing market continues to decline, attitudes continue to change. The need to save is hitting home to many families and even baby boomers headed into retirement realize that housing prices will in fact decline.

The government needs to help people who have paid into the system

Mon, 18 Feb 2008 15:00:00 GMT

The government has the means and the responsibility to help people who have proven they are responsible and worthy of the help. This can only strengthen America and help hard working people get through this downturn in the economy.

Tap into the equity of your home with a Reverse Mortgage

Fri, 15 Feb 2008 15:00:00 GMT

Not all of the equity will be available but it may not be necessary because a benefit of a reverse mortgage is that the senior will no longer have to make a monthly mortgage payment.

The upcoming recession has many people walking on eggshells

Thu, 14 Feb 2008 15:00:00 GMT

As the value of homes decrease, the cost of living seems to be increasing. Unfortunately everything is getting more expensive, even for simple things like eggs and milk.

Buyer Rebates can help you afford to buy a home

Tue, 12 Feb 2008 15:00:00 GMT

If you are cash strapped for a down payment or willing to do some of the work a real estate agent traditionally does for buyers, then buyer rebates are for you. Many companies offer rebates to buyers if they purchase a home that is listed on the MLS.

People start preparing for the upcoming recession

Fri, 08 Feb 2008 15:00:00 GMT

As many people start preparing for the upcoming recession, others already think we’re in it. Many factors are responsible for this, especially since the credit crunch that started in August 2007.

More and more people are turning to real estate auctions

Thu, 07 Feb 2008 15:00:00 GMT

You’re having a hard time selling your home and you don’t know what to do. You have tried For Sale By Owner products and have tried using the MLS.

Ethical behavior by real estate agents - Part II

Wed, 06 Feb 2008 15:00:00 GMT

The entry and exit barriers in our industry are among the lowest in any industry. It is easy to get in and even easier to get out.

Ethical behavior by real estate agents - Part I

Tue, 05 Feb 2008 15:00:00 GMT

There is no doubt that many buyers- first time or otherwise- lack the fundamental knowledge of basic finance. However, it is the moral, ethical and legal responsibility of the so called experts in transacting real estate to protect the rights of the stakeholders involved in the process.

Which candidate is best to protect our seniors from predators

Mon, 04 Feb 2008 15:00:00 GMT

Our seniors do need help if they are going to live longer, healthier and financially sound lives. Which candidate understands this best and will make senior rights a part of their platform for change?

Mortgage rates are expected to increase in February

Fri, 01 Feb 2008 15:00:00 GMT

Based on historical performance of long term interest rates, expect mortgage rates to increase after this last cut to the federal funds rate.

Reverse mortgage can provide access to cash for retirement

Thu, 31 Jan 2008 15:00:00 GMT

A reverse mortgage can be the right mortgage solution for many people. Sometimes a more traditional mortgage works better. The problem with a reverse mortgage is that the fees and mortgage insurance premiums will eat into the equity of the home.

The cost of a reverse mortgage

Wed, 30 Jan 2008 15:00:00 GMT

Under the HECM program, which accounts for 90 percent of all reverse mortgages in the US, the combination of the origination fee and the mortgage insurance premium can take a serious bite into your homes equity.

Reverse mortgages require existing equity in your home

Tue, 29 Jan 2008 15:00:00 GMT

A reverse mortgage only looks at the equity in the home and so it’s available as an option if there is existing equity in the home. But what if there isn’t?

Receive debt-free cash without the need of a mortgage

Mon, 28 Jan 2008 15:00:00 GMT

Imagine if you could tap into the equity of your home without the need to sign a mortgage. Imagine if that money was debt-free.

Sub-prime mortgage companies have put the housing economy upside down

Fri, 25 Jan 2008 15:00:00 GMT

It is easy to play Monday morning quarterback with why the sub-prime mortgage companies have put the housing economy upside down. At the time everyone was excited because home ownership rose to record levels and a lot of people were making a lot of money.

A reverse mortgage can provide mortgage payment freedom

Thu, 24 Jan 2008 15:00:00 GMT

The freedom of no mortgage payments can be a huge relief for many people. A reverse mortgage can provide that freedom.

Will mortgage rates help us escape from the recession

Wed, 23 Jan 2008 15:00:00 GMT

If you want to truly attempt to escape from the recession we are entering then everyone needs to contact their local and state governments demanding real estate tax reform.

Will local and state governments finally wake up to the realities of the economy

Tue, 22 Jan 2008 15:00:00 GMT

Inventory levels of home for sale listings are still increasing. It seems that only real estate tax reform can stimulate economic growth but it is not coming.

Understand your current financial situation before you decide on a reverse mortgage

Mon, 21 Jan 2008 15:00:00 GMT

It can be a difficult decision to make when deciding between a conventional loan and a reverse mortgage. Before you can make that decision it is important to understand your current financial situation and how the future could affect or change that for better or worse.

Reverse mortgage numbers for 2007 are in by the FHA

Fri, 18 Jan 2008 15:00:00 GMT

The FHA released their numbers for HECM reverse mortgage loans. As expected there was a significant increase in the number of HECM cases issued from the prior year.

Let mortgage lenders compete for your business

Wed, 16 Jan 2008 15:00:00 GMT

Let lenders compete for your business and just don’t shop for the best rate, shop for the best loan. If you have a mortgage with an interest rate in the 6% or higher range, now may be a great time to refinance.

Prepare now for the potential collapse of the economy

Tue, 15 Jan 2008 15:00:00 GMT

If all this activity in the mortgage space so early in the New Year hasn’t woken you up to what appears to be the beginning of a major collapse in the economy then what signs are you waiting for?

Be Aware of Reverse Mortgage Costs

Mon, 14 Jan 2008 15:00:00 GMT

You need to be aware of the costs you are paying to obtain a reverse mortgage. Your Good Faith Estimate is a great place to start when comparing the costs of a reverse mortgage so make sure each lender you’re considering gives you one.

Reverse mortgages can be the answer for many seniors during a time of economic uncertainty

Fri, 11 Jan 2008 15:00:00 GMT

Selling a home and downgrading is no longer an option. Traditional loan products that require most stringent income and credit scores are no longer an option. A reverse mortgage can be an answer for many seniors during a time of economic uncertainty.

Negotiate your reverse mortgage with a few lenders

Thu, 10 Jan 2008 15:00:00 GMT

When you decide to go shopping for a reverse mortgage there are two big ticket items that you can negotiate with the lender in an attempt to reduce the cost of the loan.

Purchase a home with a reverse mortgage

Wed, 09 Jan 2008 15:00:00 GMT

For seniors who have never owned their own home a reverse mortgage can be used for home purchases. The problem is finding an undervalued home with enough equity to satisfy the mortgage requirements.

Common reverse mortgage loan terms

Tue, 08 Jan 2008 15:00:00 GMT

When you go shopping for a reverse mortgage there are terms that you will see that you may not understand. Here are a few of the most common terms for all loans and a few you will most likely see when shopping for a reverse mortgage.

When is the best time to use a reverse mortgage

Mon, 07 Jan 2008 15:00:00 GMT

If you are a senior that does not have enough income pay your monthly expenses and live a quality life then financial change is required.

An increase in reverse mortgages does not indicate a problem with the economy

Fri, 04 Jan 2008 17:00:00 GMT

Even though reverse mortgages cost more in points and closing costs, the industry is seeing an increase in the number of these types of loans. Some argue that the surge in reverse mortgages has to do with a failing economy and not with this type of loan product being the best choice for many seniors.

Do your homework before choosing a reverse mortgage

Thu, 03 Jan 2008 16:00:00 GMT

These days, it's hard to trust reverse mortgage information coming from only one place, and it is smart to research different sources for information.

Reverse Mortgages and the New Year

Wed, 02 Jan 2008 16:30:00 GMT

The New Year is expected to bring a lot of new activity to the reverse mortgage marketplace.

Senate Committee on Aging keeps eye on Reverse Mortgages

Fri, 28 Dec 2007 17:20:00 GMT

In February 2007 the Special Senate Committee on Aging met to discuss how programs and services for seniors would be impacted by the President's budget.

Reverse Mortgages to the foreclosure resuce

Thu, 27 Dec 2007 16:00:00 GMT

If there is enough equity in the home then a reverse mortgage can be used to refinance the home before foreclosure. Today more lenders are willing to accept a reverse mortgage payoff because of the current real estate market.

Reverse mortgages are NOT a threat to seniors

Mon, 24 Dec 2007 15:30:00 GMT

The fact is that reverse mortgages are helping many seniors who otherwise would not have access to the cash buried in their homes and the FHA wants the private sector to get more involved.

Reverse Mortgages are expensive today but how about tomorrow

Fri, 21 Dec 2007 20:12:00 GMT

Reverse mortgages are more expensive today than conventional loans but with the increase in competition that is all about to change.

Reverse mortgages are ignored by the Federal Reserve

Wed, 19 Dec 2007 17:50:00 GMT

Reverse mortgages are an exception to the newly proposed amendment changes for the Truth in Lending regulations by the Fed.

You don't need to be a reverse mortgage loan exception

Tue, 18 Dec 2007 16:30:00 GMT

There will always be people out just to make a buck. I don't care what the industry is. That is why we have government agencies that regulate business practices and provide consumers rights.

Housing crisis will not be fixed by mortgage reform

Mon, 17 Dec 2007 15:20:00 GMT

It seems almost every day I read something about Congress passing new legislation in an attempt to fix the current housing crisis. Their focus is always on mortgages and the rising foreclosures that are sure to continue well into next year.

Reverse mortgage loans will never be the next subprime

Fri, 14 Dec 2007 16:36:00 GMT

Due diligence by the U.S. Senate is not a sign of subprime type problems in the reverse mortgage loan marketplace.

U.S. Senate worried about abuse in the reverse mortgage industry

Thu, 13 Dec 2007 17:06:00 GMT

The increase year after year of reverse mortgages has the U.S. Senate worried.

Reverse Mortgage Loans USA release Home Valuation Tool

Wed, 12 Dec 2007 17:42:00 GMT

New home valuation tool available on the Reverse Mortgage Loans USA web site.

Senate removes FHA limits on reverse mortgage loans

Tue, 11 Dec 2007 12:26:00 GMT

New FHA reform bills have passed through the House and Senate removing the limit on the amount of reverse mortgages the federal insurance program can underwrite.

Reverse Mortgages can be a peace of mind for seniors

Mon, 10 Dec 2007 17:02:00 GMT

We all need to be proactive and help our senior citizens protect and grow their financial future. Giving anyone the peace of mind of knowing that they will always have their home is an important step in the right direction.

HomeXperts announces the launch of ReverseMortgageLoansUSA

Thu, 06 Dec 2007 16:01:01 GMT

HomeXperts has launched ReverseMortgageLoansUSA.net to serve senior homeowners in all 50 states.