Scam Alert: The National Council on Aging has released a list of the ‘ Top 10 Scams’ targeting older adults. None of these are anything new-in fact, we’ve cautioned about most of these scams.
Homeownership Continues to Fall A left-wing think-tank faced fierce criticism yesterday for a report suggesting second home ownership is penalising the young. While the number of millennials who own a home continues to fall, one.
“It’s common sense to provide to reverse mortgage holders the same strong foreclosure safeguards already in place for homeowners. And training, certifying and legally empowering bank employees to.
A reverse mortgage is a mortgage loan, usually secured over a residential property, that enables the borrower to access the unencumbered value of the property. The loans are typically promoted to older homeowners and typically do not require monthly mortgage payments.
Add to the list free-lunch seminars to sell questionable financial products, identity and credit card theft, door-to-door, Internet, email, Internet, veterans and reverse mortgage scams, as well as.
FHFA Proposes Rule On Underserved Markets FHFA: Fannie Mae’s and Freddie Mac’s Underserved Markets Plans for Duty to Serve program published. investor update december 18, 2017. Washington, D.C.The Federal Housing Finance Agency (FHFA) today published Fannie Mae’s and Freddie Mac’s (the Enterprises) Underserved Markets Plans for 2018-2020 under the Duty to Serve program.February Delinquency Rate Down mortgage delinquency rates are down, credit delinquencies are up. CoreLogic reports 30-day-plus delinquency is the lowest it’s been in over a decade.. It’s a good news, not-so-good news situation. First, the good news: More people are paying their mortgages on time.
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· On a reverse mortgage, lenders depend wholly on proceeds from eventual sale of the property to be repaid. If the debt balance grows to exceed the property value, the lender will suffer loss, though on HECM reverse mortgages the FHA will assume all or most of it. HECM borrowers pay a mortgage insurance premium to cover such losses.
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The good news is that help is available. Owner-occupied repair assistance, property tax exemptions, loan modifications, and yes, even reverse mortgages can help you continue to enjoy your home despite.