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 [...]
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 mortgage [...]
Wells Fargo Reverse Mortgage
Back to basics. Wells Fargo recently updated their reverse mortgage section with the latest definition of what is a reverse mortgage. While they do not list rates on their site, having the basic understanding goes a long way for a senior or loved one looking for basic information.
What makes it a “reverse” mortgage?
A reverse mortgage [...]
How refinancing can be used for Recreational Vehicle Loans
In this guest post, Samantha Stosur gives suggestions for refinancing an RV. Highly relevant for many retirees, whom just last year thought their financial situations were much better than they do today. Samantha is a mortgage specialist, a member of www.mortgagefit.com, the world’s largest mortgage community. She has been writing on different mortgage related topics [...]
First American, First to Score Reverse Mortgages
Scoring and regulation in the reverse mortgage industry is still in it’s infancy. In other words the oh so complicated metrics that traditional mortgages carry have yet to crossover to the reverse mortgage market. First American recently put out a release touting to have the 1st Reverse Mortgage Scoring system.
The new loan-level score examines a [...]