Why reverse mortgages can be problematic after borrower dies

Posted on Sep 15, 2022 in FHA Information

Obama Program Said to Reject 72% of Mortgage Relief Requests
Not exactly. "Bidding wars, page mind a hallmark of last decade's housing boom, are making a comeback in a number of metro areas across the U.S.," writes Wall Street Journal reporter Kris Hudson. That includes thriving cities like San Francisco, Seattle and Denver.
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Obama Could Lop Hundreds Off Your Monthly Mortgage Payment
HARP, the Home Affordable Refinance Program, was passed in 2009 by the Federal Housing Finance Agency (FHFA) as a way to help homeowners better manage their mortgages. It helps people with negative equity (“underwater”) properties refinance at …
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Making Home Affordable Program hasn't helped enough, some say
(CNN) — When President Obama unveiled the Making Home Affordable Program in March, he said it would help "responsible folks who have been making their payments" reduce their monthly mortgage bills and avoid losing their homes to foreclosure.
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We're destroying a generation of students: The disastrous effects of our
… $ 28 million in loans for 1, order 312 former Corinthian Colleges students exploited by the now-defunct for-profit chain is a laudable start, but more must be done. Specifically, while federal loans offer employed graduates options like forbearance and …
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OPINION: Re-establishing the Postal Savings Bank
These alternative “fringe banks” charge outrageous interest rates and fees — millions of Americans turn to fringe banks each year, which allows them to bring in $ 40 billion a year in high-interest loans. Where are … According to Bloomberg, from 2008 …
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Quicken Loans considers quitting FHA loans
According to a report from Reuters, buy information pills Quicken Loans, which is currently the largest FHA lender, is considering ending its participation in FHA lending entirely, citing the government's aggressive enforcement policies as the main reason for potentially …
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FHA is on the rise in the DC-area housing market
An FHA loan, provided only by FHA-approved lenders, is a loan that is insured by the Federal Housing Administration, reducing risk for loan providers should the borrower default on mortgage payments. With maximum loan values in place, these loans are …
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FHA reforms too meager to matter
If you're a first-time buyer with a moderate income and not much cash for a down payment on a condo, the availability of Federal Housing Administration financing is a big deal. Not only do you need just a 3.5 percent down payment, but the FHA is also …
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Why reverse mortgages can be problematic after borrower dies
"Another three-month extension is generally pretty easy to get as long as somebody will be selling the house and is maintaining it, more about " said Patricia Wills, president of Retirement Life Funding, a reverse mortgages broker in Silver Spring, Md. "Then they …
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A potential drastic change to the industry
“If they go away, it dramatically changes everything; it means the big banks will have to hold more mortgages on the books and there could be a resurgence of sub-prime lenders, which led to the collapse,” Israel said. “It will impact how individual …
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Grants can help you make your down payment
The loan amount includes the FHA financed mortgage insurance or VA funding fee for owner-occupied California single-family homes, townhomes or condos. You do not have to be a first-time buyer. In fact, you can own other property right now. You can go …
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First-time homebuyers receive assistance
The program can utilize Iowa Finance Authority (IFA) FirstHome programs and other lending programs offered by local mortgage brokers, banks, and credit unions. Federal Housing Administration (FHA) insured mortgages do not qualify for the program.
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