Turning Home Equity into Retirement Income: An Overview of Reverse Mortgages
Reverse mortgages are loans that let homeowners who are 62 years of age or older turn their home equity into cash. Homeowners can get a lump amount, a line of credit, or monthly payments through a reverse mortgage to augment their retirement income. The fundamentals...
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11th District COFI Sets Another Record Low
For the second month in a row, the 11th District Cost of Funds Index has descended deeper into record-low territory. On Wednesday, the Federal Home...
FHA Contracting Restrictions Eased
Requirements on the utilization of contract employees by Federal Housing Administration mortgagees is being relaxed for some functions. Up to this...
FHA Endorsements Fall, Could Go Lower
The monthly volume of residential loans endorsed by the Federal Housing Administration declined and could move even lower. A modest improvement was...
Mortgage Rates Escalate, Further Ascension Ahead
Long-term mortgage rates climbed to the highest level so far this year, have increased for four weeks in a row now and are expected to rise further....
Mortgage Rates Skyrocket, Could Go Higher
Mortgage rates shot up to the highest level since the first week of the year thanks to the election, and a further increase could lie ahead in the...
Distressed FHA Loan Sales Criticized
The federal government has sold thousands of delinquent Maryland mortgages to private investors through a controversial program that critics argue...