Commentary
Properties Not Eligible for Reverse Mortgages
According to HUD, there are several types of housing units that are not eligible for a HECM or Reverse Mortgages. Primarily older manufactured homes are not eligible with a couple of other types you would not think about on a normal basis.
Cooperative units
Newly constructed residence where a Certificate of Occupancy or its equivalent has [...]
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 [...]
As Portfolios Fall, Seniors Look to Reverse Mortgage
Thank goodness that the entire country are not homeowners that purchased their home in 2005 with no money down and currently live with negative equity. It seems that the mainstream media would you believe this, but what about the seniors that have owned their homes outright for the past 5, 10, or even 25 [...]
Reverse Mortgages Set To Grow
As the U.S. economy on a macro level and consumer loans on a micro level desperately seek sound footing, one sector of the mortgage market continues gain momentum. In a recent report by the Wall Street Journal, we see that the recent passing of federal regulation of reverse mortgage limits increasing should afford seniors some [...]
Odd Bedfellows: Prosperity Gospel & the Mortgage Meltdown
In one of the more thought provoking readings I have come across in a while, Time magazine spotlights an argument that the message from many of America’s “prosperity pastors”, had a large impact on the recent financial crisis. The argument does not lay complete blame on that sect of the Christian church, however it does [...]