Results for Reverse Mortgage Loans

Are you applying for a mortgage loan? See these tips to prepare, and get approved for a mortgage on the new home you want.

Avoid these mistakes between loan approval and closing
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07/08/2016 | Author: Ward Lowe
You've been careful with your finances, saved for a downpayment, and finally received approval for a mortgage loan. It’s time to celebrate, right
Not yet. Your lender will recheck your credit right before closing. Don't give him or her reason to question your creditworthiness by making these mistakes
1. Changing…

See how to sell a home with a reverse mortgage. Step by step guide to getting your home sold when you have a reverse mortgage to deal with.

Big mortgage mistakes - making financial mistakes before applying for a home mortgage loan, or during the mortgage underwriting process. Avoid these costly mistakes.

Obtaining a mortgage can be a complex process with a lot of moving parts. Here are some tips to keep your loan process on track.

The real estate market has effectively bounced back, which is evident in the growing number of new homeowners. With home buying rates steadily increasing in our region, many buyers are on the market for the first time – young professionals couples, and small families among them. At Network Real Estate, we’ve pooled our expertise to help you avoid the pitfalls that so many first-time homebuyers fall…

Credit score is one of the biggest factors in determining your approval for home financing. A minimum score of 620 is required by all mortgage loans delivered to Fannie Mae, but borrowers with lower scores still have hope for homeownership.

You have been making mortgage payments most of your adult life. Maybe it’s time your mortgage lender starts to pay you back.

A reverse mortgage enables clients to utilize their home equity as part of their retirement strategy. Read on to find out more about how it works.

Although reverse mortgages are for borrowers aged 62 and older, a significant portion of complaints to the CFPB come from younger spouses or family members of borrowers who are left with financial struggles after the borrower dies. As a result, the CFPB offers three steps on how to try and prevent this.

Real estate transactions—including reverse mortgage transactions—are increasingly a target for scammers, as seen by title and closing professionals on an ongoing basis.

If any of these simple mistakes appears on your mortgage loan application, make sure to get it corrected swiftly. The post How a Typo Can Derail Your Mortgage appeared first on Real Estate News and Advice - realtor.com.

In today’s rocky reverse mortgage landscape, it’s clear that a strong referral network is a major component to success. With profit margins shrinking, there’s little room in the budget for lead buys and marketing, and those who can cut costs by networking for clients might have a better chance...

The reverse mortgage financial assessment, by now, is old news. With its implementation date nearly a month in the past, originators have had even more months to train and prepare for the new rule. As was expected, the assessment is adding time into the reverse mortgage origination process.

09/30/2016 | Author: Editorial Staff
If you’re financing a property purchase, you’ve probably come across the term points or discount points. Although there are other meanings, most often these terms refer to prepaid interest, with one point equal to 1% of your mortgage loan
Lenders offer borrowers the opportunity to purchase points on their mortgage, which means you’re paying up front to lower the interest rate…

At face value, it could seem like a small issue: A borrower might need to make a few minor repairs on a property in the weeks and months after securing a reverse mortgage to bring it up to the Department of Housing and Urban Development’s standards.

Many people have yet to understand truly what a reverse mortgage is and how it can benefit them. We offer a few facts including what loan options we offer and how each can benefit you.

If you're looking to buy a home, you're no doubt aware that the more of a down payment you're able to make and the higher a mortgage loan you qualify for, the easier a process it'll be. But that doesn't mean you can't buy a home if funds are limited and you're only approved to borrow so much. Here's how to become a homeowner even when you don't have a lot of financial flexibility.

One of the sure-fire ways to truly understand a product is not by listening to all of the good that it can potentially do, but also to understand what the negatives are about. The reverse mortgage program has many positives that we have written about for years, but there are also some disadvantages that need to be addressed. You should discuss these with your licensed expert and bring them up during your independent counseling session. The reverse mortgage program, much like a 30…

It is a major life decision to buy a home and yet many do not consider how much they will pay on the interest over the life of the loan. All they usually think about is if they can afford to pay the monthly mortgage payments
It is helpful to learn how different loan structures impact the amount of money wasted on the interest paid for a home loan. Here is a comparison of different loan lengths and payment options to show some…