Archive for June, 2007
Reverse Mortgage Scams and Schemes
Good people, my great grandmother once told me that not everything that glitters is gold. It is so important to take your time when considering long term financial decisions that can affect you long term. In other words, if it sounds to good to be true, it probably is. The Houston Chronicle recently followed a [...]
When banks compete, government loans lag
As I have often chronicled on this site, the Big Boys of Mortgage Banking, (Wells Fargo, Bank of America, Countrywide, etc.) are just warming up with their push to grow and win over the reverse mortgage market. The most intriguing trait of these big banks is their innate ability to cut out the costs that [...]
Reverse Mortgage for Veterans in for long battle
This story was first posted at Army Times. The proposal — currently pending before the House Veterans’ Affairs Committee — would allow the Veterans Affairs Department to provide a home equity conversion mortgage, or HECM, to U.S. veterans. Under the plans, sponsored by Rep. Michael Michaud (D-Maine), veterans age 62 and older could receive monthly [...]