One of the attractive features of the HECM reverse mortgage has been that there are no income or credit requirements. All homeowners 62 and older who live in their homes without a mortgage have been eligible, and those with mortgages may also be eligible if the balance is not too large. But all that will change March 2, when a series of drastic new Federal Housing Administration rules come into play.
Q: For the last five months, I've been renting a house that has been in foreclosure since 2011. I received a notice in the mail that the property is going to foreclosure auction next week. I have seven more months on my lease, and the rent is great. What happens to me?
Ed Lipsett, store director of the massive Nebraska Furniture Mart under construction in this Dallas suburb, takes great pride in the breadth of the new store. At 560,000 square feet, it's big enough to fit three Wal-Mart Supercenters inside.
Jackie Smith is offering her home for rent for $15,000 during the week of the Pope visits Philadelphia in September. She envisions her guests will be a few out-of-state families who opt to share the postwar bungalow an hour's drive from the city.
Despite the recent increase in the growth rate of the economy, interest rates remain stubbornly low. Many mortgage borrowers who to this point have procrastinated in making a refinance decision are wondering whether the market fates are giving them another shot. And some who did refinance earlier are wondering whether they ought to do it again. A critical question for these borrowers is the degree of certainty they can have that a refinance will provide a net benefit. This article discusses three approaches to that question that have emerged over the years, and a new approach introduced here.
Northern San Joaquin Valley home values made remarkable gains in 2013, with home sale prices soaring by more than 20 percent in most cities. Denair led the pack, skyrocketing 48.3 percent, while median-priced homes in Patterson posted 40 percent gains, according to just-released annual statistics from DataQuick.
Oops, you haven't selected any newsletters. Please check the box next to one or more of our email newsletters and submit again.
Oops, you didn't provide a valid email address. Please double-check the email field and submit again.