Archive for November, 2008
HELOC vs. Reverse Mortgage (Frequently Asked Questions)
There is a difference between a HELOC and a Reverse Mortgage, although to the average consumer they seem pretty close. Bankrate, does a fabulous job explaining the difference. A reverse mortgage is an interest-only loan that capitalizes the interest expense along with the principal. That means that there are no loan payments at all until [...]
Reverse Mortgage Regulation
It has always been my opinion that for many seniors a reverse mortgage can be a real blessing. The issue comes when unscrupulous lenders tack on excess fees. With reverse mortgage fees becoming more competitive while HECM limits increase, the writing is on the wall for class action lawsuits brought forth by senior advocates defending [...]
Wells Fargo braces for reverse mortgage growth
As the new limits on reverse mortgages settle amongst lenders, Wells Fargo is expecting to see a bump in applications, despite the current state of the economy. In an interview with McClatchy columnist VICKI LEE PARKER, we find a Wells Fargo Reverse Mortgage specialist giving his insights into the industry. Brien J. Brandenburg, a reverse [...]