Reverse Mortgage Daily
Reverse Mortgage News.
Provider: Reverse Mortgage Daily
Feed Type: Residential
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The current reverse mortgage rate environment may not completely eliminate the impact of October 2017’s notorious changes to principal limit factors (PLFs), but it is certainly diminishing them, says a prominent reverse mortgage educator. After sharing with RMD a favorable change in reverse mortgage rates at the beginning of the summer, things have only managed […]
The post Lower Interest Rates Quelling Effects of Oct. 2017 Reverse Mortgage Changes appeared first on Reverse Mortgage Daily.
08/22/2019 09:20 PM
An influx of non-emergency 911 calls across the state of Tennessee is straining the resources of area first-responders, showing that there’s progress to be made in terms of allowing more seniors to age in place. According to a report in the Chattanooga Times Free Press, Tennessee State Rep. Mike Carter (R) says he wants to […]
The post Non-emergency 911 Calls Highlight Aging in Place Struggles appeared first on Reverse Mortgage Daily.
08/22/2019 09:18 PM
The Department of Housing and Urban Development (HUD) issued a new Mortgagee Letter (ML) late Wednesday offering procedures that mortgagees must follow for single-unit approval case number assignments. “This Mortgagee Letter provides interim instructions, pending changes being made to FHA systems, for the upcoming process of obtaining an FHA case number for a Unit in […]
The post HUD Issues Mortgagee Letter for Guidance on Condo Approvals appeared first on Reverse Mortgage Daily.
08/21/2019 10:25 PM
The Department of Housing and Urban Development (HUD) last week announced a new process for condominium approvals, effective October 15, which will expand FHA financing for qualified first time homebuyers as well as seniors looking to age in place, allowing those seniors to engage in reverse mortgage loans for single condominium units. While HUD and […]
The post RMD Report: Reverse Mortgage Industry Sees Big Potential in New Condo Rule appeared first on Reverse Mortgage Daily.
08/21/2019 09:49 PM
Housing price gains continue to cool as we progress further into 2019, with year-over-year appreciation rates showing a notable drop across the country. Two of the most expensive metro areas in the country also show signs of a decreasing rate of appreciation, according to data compiled by mortgage resource HSH.com. In the 50 most populous […]
The post Housing Price Gains Continue Cooling in Metro Areas appeared first on Reverse Mortgage Daily.
08/21/2019 09:45 PM
One of the advantages of a reverse mortgage product is the versatility with which it can be employed by a borrower. While the product can often be used to help ease the financial situation of a needs-based borrower who is house rich and cash poor, it can also be used by a pool of more […]
The post Tips for Helping Financially, Emotionally Distressed Reverse Mortgage Borrowers appeared first on Reverse Mortgage Daily.
08/20/2019 09:50 PM
The share of homeowners who maintain a traditional forward mortgage is at 62.9 percent, accounting for the lowest level of such homeowners since at least 2005. This is in spite of the fact that the household-owned value of the housing market in the United States is at a record high of $26.12 trillion, and that […]
The post Urban Institute: Share of Homeowners With a Mortgage Drops to 13-year Low appeared first on Reverse Mortgage Daily.
08/20/2019 09:48 PM