Choosing a reverse mortgage: fixed vs. adjustable FHA-insured reverse mortgages, called Home Equity Conversion Mortgages (HECMs), can be a life-saver for elderly homeowners short of income. While aftershocks from the financial crisis have caused the amounts that homeowners can draw under the program to be reduced, borrowers now have more options than they had before …
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Real estate tips to guard against losing your home Time and time again, home-buyer wannabes state that the reason they are still fence-sitting is that they don’t want to end up in the same trouble the last generation of homeowners did. Well, there’s a very slim chance of that happening, given the changes in the …
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Real estate-related debts are on the decline, as are overall delinquencies, according to a quarterly report from the Federal Reserve Bank of New York. Debt maintained through mortgages and home equity lines of credit (HELOC) declined $146 billion during the fourth quarter of last year. Mortgages made up a majority of the decline – $134 …
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Several financial sectors suggest economic stabilization and growth, but the nation’s housing market continues to dampen overall conditions, according to the credit bureau Equifax. Equifax, based in Atlanta, has released the results of a study it conducted during the month of May analyzing national credit trends. The company points to shadow inventory and REOs as …
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