Archive for August, 2008
Homeowners should weigh options before choosing reverse mortgage
Homeowners should weigh options before choosing reverse mortgage, Young families aren’t the only ones who might find themselves strapped for cash and wondering where their next house payment might come from. There have been a lot of older folks who decided the housing market was so open that they would take advantage of the good [...]
How the new housing bill affects reverse mortgages.
How the new housing bill affects reverse mortgages., The recent signing of the HOUSING AND ECONOMIC RECOVERY ACT OF 2008 (HR 3221) by President Bush puts into motion something that has been long in the making and that’s a modernization of FHA rules for reverse mortgages. Some of the changes facing potential reverse mortgage clients [...]
March HECM Production Falls From February Record
March HECM Production Falls From February Record, Home Equity Conversion Mortgage (HECM) figures released by HUD show that 9,663 HECMs originated during March 2008, down 11% from the record 10,913 HECMs endorsed in February The 12-moving average fell from a record high of 9,249 in February to 9,147. On an annualized basis, 109,765 HECMs were [...]