Archive for December, 2008
Biggest Advantage of a Reverse Mortgage
As I shift through the internet to find solid information related to reverse mortgages to present on this site, I often find a lot of noise. Noise meaning meaning many people make claims regarding advantages and disadvantages but there is very little information that is universally standard. As I usually advice on this [...]
IndyMac’s Reverse Loan Unit May Be Sold Before 2009
In a recent article in Forbes a group of private investors are fast approaching a deal that could place IndyMac back into private hands before the New Year. While many of IndyMac’s assets were poor performing, the reverse mortgage unit is one of the crown jewels remaining of the now defunct bank. IndyMac Bancorp assets may [...]
Refinancing Existing Home Equity Conversion Mortgages (HECM) and Revision
From the HUD Letter Series TO: ALL APPROVED MORTGAGEES ALL FHA APPROVED HOUSING COUNSELING AGENCIES SUBJECT: Refinancing Existing Home Equity Conversion Mortgages (HECM) and Revision to the HECM Calculation Software–Single Family This Mortgagee Letter informs Mortgagees and Housing Counseling Agencies that provide HECM Counseling of statutory changes to the Federal