Archive for January, 2008
AARP: Lenders abuse reverse mortgage sales
AARP: Lenders abuse reverse mortgage sales, Firms then push LTC, annuities to borrowers Reverse-mortgage lenders may be depleting the home equity of borrowers by offering inappropriate financial products, according to a report issued last month by AARP. Nine percent of borrowers surveyed by the association said lenders had offered them financial products such as annuities [...]
Elderly homeowners look into reverse mortgages for additional cash
Elderly homeowners look into reverse mortgages for additional cash, Pittsburg resident Loris Brown saw an ad on television some time ago and decided that the advertisement was worth looking into.Weeks later Brown, an 82-year-old retiree from Borden Dairy in Kansas City, Mo. found himself with $90,000 to do with whatever he deemed necessary. That is [...]
New York Reverse Mortgage Data and Statistics 2001-2008
New York’s Reverse Mortgage Market is a growing one. Data from 2001-2008 shows that Bank of America is not a player in New York, at least not yet. Top New York HECM Lenders HECM Loans Sep-2001 to Feb-2008 BNY MORTGAGE COMPANY LLC 3,128 WELLS FARGO BANK NA 2,270 FINANCIAL FREEDOM SENIOR FUNDI 2,218 VERTICAL LEND [...]