Archive for August 13th, 2008
Savvy Consumer: Help is on the way for distressed homeowners [Texas]
Savvy Consumer: Help is on the way for distressed homeowners [Texas],
The new housing law signed last week has some relief for virtually all homeowners:
For property-tax payers, it offers a new deduction, even if you don’t itemize.
For first-time home buyers, a new tax credit is available that acts as a 15-year no-interest loan.
For senior citizens, the [...]
Financial survival workshop for homeowners set [Florida]
Financial survival workshop for homeowners set [Florida],
Homeowners struggling with debt and the threat of foreclosure may sometimes face a third danger: financial predators looking for vulnerable targets.
Organizers of the Financial Survival Workshop planned for Saturday in Fort Myers plan to offer advice for tackling all of the above.
The event is sponsored by Reverse Mortgage Group, [...]
Seniors Get a Gift from the New Housing Law
Seniors Get a Gift from the New Housing Law,
The law makes several significant changes to reverse mortgages.
When trying to figure out who benefits from the new housing law, don’t forget to count seniors who are in the market for a reverse mortgage. These mortgages let seniors convert some of their home equity into a stream [...]
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 rates [...]
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 originated [...]
