Are you now offering Reverse Mortgages, sometimes known as HECMs (Home Equity Conversion Mortgages)? If not, you may be missing out on another home financing opportunity. With rates remaining low, a reverse loan may be an option for many older homeowners. They can access some of the equity they built in their home without taking on the expense of a…
The House passed HR 2091, the Flood Insurance Market Parity and Modernization Act, which would allow Fannie and Freddie to accept flood insurance placed through private insurance carriers. This is being praised by the insurance and real estate communities and by many lenders as a good thing for consumers. By allowing the Agencies to accept such coverage, the market for…
If you’ve been following the events at the Republican National Convention, you’ve heard all the speeches about family, safety, immigration, jobs and the economy, as well as, party unity and broken pledges (or pledge). It has provided some good drama and plenty of fodder for the political pundits. But, what about housing? We still have a problem in this country…
We all know how important it is to own an energy efficient home. The less use of heating and cooling, and related energy resources, the more affordable a home can be. HUD is making changes that would allow homes to be insured that carry a lien for such improvements when done under Property Assessed Clean Energy (PACE) programs. A property…
Just in case you missed it, mortgage rates are at all-time lows, again. Brexit, low inflation, a stagnant economy, all contribute to the Fed’s ongoing decision to not increase rates. That’s some good news! Although we’ve seen a spike (again) in refinances, there are still homeowners who haven’t taken advantage of the lower rates? According to a prior Black Knight…
I’m confused again… According to recent research done by Fannie Mae, many homeowners underestimate the equity they currently have in their home. As a result, these homeowners are less likely to refinance, take out home equity loans, or sell their home (Equity). This is not good for the housing market. On the other hand, a study done by Quicken Loans…
