TEXT-S&P rates RBS Citizens Financial Group

Posted on Oct 1, 2012 in Stated Income Loans

Question by G: Reverse mortgage HELP PLEASE?
Hey everyone i have a question about reverse mortgage. I will be turning 62 In march and i have been looking into refinancing into a reverse mortgage.. but as many houses out here in California my house has lost value and I Do not have any equity… Can i qualify for one? and does anyone know of a Reliable FHA-approved lenders In So-Cal?

Best answer:

Answer by Let me steer you
To get a reverse mortgage, stuff approved you must own your home outright, or have a low mortgage balance that can be paid off at closing with proceeds from the reverse loan, and you must live in the home.

If your current mortgage balance owed is high, and certainly if you have no equity built up in the home, then you cannot do a reverse mortgage.

You can receive free information about reverse mortgages in general by calling AARP toll free at (800) 209-8085.

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TEXT-S&P rates RBS Citizens Financial Group
RBS has stated that it intends to retain Citizens, erectile but, cure in our view, buy more about Citizens' long-term position within the RBS group is uncertain. For instance, RBS could sell Citizens to … The improvement stemmed from a sharp decline in loan loss provisions …
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Federal Reserve helps lenders more than homebuyers
Fed Chairman Ben S. Bernanke's stated goal of helping boost the housing market is being undercut by lenders' inability to keep up with consumer demand, even as investors drive up bond prices. Banks have been … Along with low rates, President Barack …
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European views on financial regulation (and other American evils)
Hummler admitted that our most elite financial firms had known that they were selling millions of bad home loans and bad financial derivatives, particularly collateralized debt obligations (CDOs), “backed” (not so much) by the bad loans. The elite …
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