By | Published: February 8, 2011
The Orlando Sentinel recently wrote about how more than 30,000 homeowners are in “technical default” on a reverse mortgage and could end up losing their homes for not paying property taxes and homeowners insurance. Florida has the highest number of defaults at almost 5,300, or 18 percent of the total for the U.S., according to nonprofit credit counselor CredAbility Group
Posted in Reverse Mortgage | Tagged a-good-option-, a-has-the, a-reverse-loan, and-homeowners, highest-number, home-as-long, homes, loan-guidelines, make-monthly, mortgage-lender, property-taxes, reverse mortgages, while-the-risk
By melissa | Published: February 8, 2011
The Orlando Sentinel recently wrote about how more than 30,000 homeowners are in “technical default” on a reverse mortgage and could end up losing their homes for not paying property taxes and homeowners insurance. Florida has the highest number of defaults at almost 5,300, or 18 percent of the total for the U.S., according to nonprofit credit counselor CredAbility Group.
Posted in Reverse Mortgage | Tagged a-good-option-, and-homeowners, before-applying, highest-number, homes, loan-guidelines, make-monthly, payments-as-you, reverse loan, reverse mortgage, reverse mortgages, still-possible
By melissa | Published: February 7, 2011
Many senior citizens want to stay in their home for as long as they can. But even if you own a home free and clear of a mortgage, it can be tough making ends meet on a fixed income. A reverse mortgage is one way to supplement retirement income to get the money you need for bills
Posted in Reverse Mortgage | Tagged a-credit-check, a-friend-move, a-good-idea, a-good-move-, a-loan-depends, finances-during, money, privacy, reverse home mortgage, reverse mortgage, whether-or-not
By melissa | Published: February 7, 2011
Many senior citizens want to stay in their home for as long as they can. But even if you own a home free and clear of a mortgage, it can be tough making ends meet on a fixed income. A reverse mortgage is one way to supplement retirement income to get the money you need for bills.
By | Published: February 4, 2011
Bank of America told employees it’s leaving the reverse mortgage business on Friday. The company left the “forward” wholesale business last year, but told at the time, told RMD it remained committed to the reverse mortgage wholesale channel.
Posted in Reverse Mortgage | Tagged a-meeting-with, announcement, business, details-on-why, industry, reverse mortgage, second-largest, shows-the-bank, time, told-employees, wells-fargo
By melissa | Published: February 4, 2011
The Consumer Financial Protection Bureau (CFPB) launched a “beta” version of its new website at ConsumerFinance.gov . “We have the opportunity to create a brand new consumer agency from the ground up,” said Elizabeth Warren, Assistant to the President and Special Advisor to the Secretary of the Treasury on the CFPB
By melissa | Published: February 4, 2011
Social Security will will run deficits beginning this year, five years sooner than expected and will run in the red until its trust funds are drained by about 2037 according to a report from the Congressional Budget Office. This year alone, Social Security will pay out $45 billion more in retirement, disability and survivors’ benefits than it collects in payroll taxes, the nonpartisan CBO said.
Posted in Reverse Mortgage | Tagged a-former-deputy, a-report-from, andrew-briggs, budget-office-, disability-and, news, nonpartisan, payroll-taxes, retirement, scholar-at-the, social, social security, steadily-as-the, the-nonpartisan, year
By melissa | Published: February 4, 2011
New survey results show that 11 percent of online consumers are currently connected with their bank or credit union through a social site, and more than one-third (36 percent) of those not connected are interested in doing so according to Fiserv. Interest remains high for Gen Y Consumers, with 45 percent saying they’re connected to their bank through social media. “There is clearly a sizable segment of consumers who are interested in interacting with their financial institutions through social sites,” said Geoff Knapp, vice president, Online Banking and Consumer Insights, Fiserv
By | Published: February 3, 2011
For all those hoping the industry would start of 2011 with a big month in volume, sorry, it didn’t happen. Reverse mortgage lenders endorsed 6,464 HECM units in January, down 1.4% from the month before and 15.3% lower from January 2010 according to Reverse Market Insight .
Posted in Reverse Mortgage | Tagged a-big-month, a-net-average, data, industry, mortgage-volume, president, production-per, reverse mortgage, say-consistent, stay-relatively, trend-continues
Related Articles