Archive for November 7th, 2007
Reverse mortgage lender gets tax break, fights allegations
Reverse mortgage lender gets tax break, fights allegations,
A reverse mortgage lender has met one of its growth benchmarks by creating 100 jobs in just four months, under a deal with the state for $3.5 million in tax benefits.
But even as Melville, N.Y.-based Vertical Lend Inc. continues its growth in Troy and plans to add 60 [...]
Seek unbiased help if considering reverse mortgage option
Seek unbiased help if considering reverse mortgage option,
Many people aged 62 or older are “house-rich and cash-poor.” They’re free of house debt but their income is limited. A reverse mortgage may allow some to take advantage of their house as an asset and convert it to income.
A reverse mortgage is a loan, where the lender [...]
India: Reverse Mortgage Loan getting good response
India: Reverse Mortgage Loan getting good response,
MUMBAI: Traditionally in India retirement from active service is usually considered to be the end of active life, and sooner or later a retiree becomes entirely dependent on his or her children. A promise in the current year’s budget by Finance Minister P Chidambaram of introducing reverse mortgage products [...]
Letter: Be wary of reverse mortgages
Letter: Be wary of reverse mortgages,
If the government is willing to insure and ensure any reverse mortgage loan with a financial mortgage lender will be paid off so that elderly, needy folks can remain in their homes, why do we need a third party in on the deal? Specifically, reverse mortgage firms that are not [...]
HECM Market Comparison 10/31/2007 vs 10/31/2006
HECM Market Comparison 10/31/2007 vs 10/31/2006,
Much has changed over the past year in the HECM loan market: Florida has taken over from California as the reverse mortgage activity “hot spot” in the U.S.; new products like the HECM 100 and HECM 125 have emerged, and the overall volume of HECM loans has increased substantially. We [...]
HECM Growth By State
HECM Growth By State,
Our prior use of a “heat map” showing Home Equity Conversion Mortgage Growth in U.S. States was well received by visitors so we thought we’d make it a monthly feature using data from HUD’s monthly HECM activity reports.
The map below is based on percentage changes HECM growth rates for the 12-month period [...]