Search Results for: home equity lines of credit

Adjustable rate home equity conversion mortgage

The Home Equity Conversion Mortgage (HECM) is FHA’s reverse mortgage program which enables you to withdraw some of the equity in your home. You choose how you want to withdraw your funds, whether in a fixed monthly amount or a line of credit or a combination of both. Continue reading

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Fed Avoids Finalizing Mortgage Reform, CFPB Takes Over

Plans to execute three mortgage proposals under Regulation Z are being put on hold until after the transfer of authority to the Consumer Financial Protection Bureau (CFPB) takes place on Tuesday. The proposals covered a range of topics, including consumer … Continue reading

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Reverse Mortgage Volume in Canada Sees Big Boost from Lower Rates

Canada saw fourth quarter origination of reverse mortgage  jump to $43 million, according to the HOMEQ Corporation. HomEquityBank, a subsidiary of HOMEQ Corporation, saw an increase of 77% over the same period last year and an increase of 11% over … Continue reading

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Pros vs Cons

The Pros and Cons of Getting a Reverse Mortgage Benefits of a reverse mortgage Reverse Mortgages carry no monthly payments for the life of the loan If the reverse mortgage balance exceeds the value of the home, HUD will make … Continue reading

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