Life Gets Even Better After Age 62

As you reach your senior years, many government programs suddenly become available, such as Medicare or Social Security, but there are other resources too. What is a Reverse Mortgage? A reverse mortgage is a cash payout to the homeowner based on the property’s equity. If you have $50,000 in equity, you may be able to […]
Beneficial Program Changes for Seniors

There has been some program changes in a reverse mortgage that have made it even more beneficial for its borrowers. Senior Help Line provides senior homeowners with the solution to their financial obligations. Three Basic Changes to Reverse Mortgage: 1) First Year’s Limit – The Department of Housing and Urban Development (HUD) has reestablished a […]
Increasing Trend in HELOC Loan Origination Volume Since 2008

RealtyTrac, the nation’s leading provider of comprehensive housing data and analytic for the real estate and financial services industries recently released a trend report on the total volume for HELOC loan originations. The first-ever HELOCs volume report shows a sudden increase in trend since 2009. Since June of 2009, the total volume in Home Equity […]
Making Homes Affordable for VA Borrowers
The VA home loan program is already one of the most affordable programs available to military borrowers today. Topping off benefits, the Making Home Affordable Program (MHA) is now available for these underwater borrowers to refinance so that they can retain their homes in the event that they don’t qualify for a VA Streamline Refinance […]
30-Year Mortgage Rates at 4.19% and No Money Down for VA Purchase Loans

According to Freddie Mac’s weekly mortgage rate survey, 30-year mortgage rates are currently as low as 4.19%, making VA purchase home loans even more appealing with no money down for today’s veterans and active-duty military members. Though many borrowers may not be able to qualify since it is specifically offered only to active-duty military members […]
Low Rates Boosting Purchase Home Sales

Mortgage Home Base reports on low mortgage rates and the sudden increase on mortgage approvals in the purchase market. The boom of the refinance market may be coming to an end in 2014 after all. According to Freddie Mac’s 2014 second quarter refinance observations, the share of refinance borrowers has fell below 50 percent for […]
Debunking Reverse Mortgage Myths
Reverse Mortgages are one of the most misunderstood loan programs that the government insures. Even though there are a number of benefits for seniors through a HECM reverse loan, many eligible homeowners are missing out due to the overwhelming myths about the nature of reverse mortgages. While a reverse mortgage is not the only way […]
Mortgage Rate Highs Are Back

Mortgage Home Base reports on the comeback of high rates, but are they here to stay? The highest it’s been since April 2014, the movement due to momentum could very well be what is to blame for this unexpected increase of as much as 25 basis points. Just a week ago, word spread that the […]
How To Ditch FHA’s Mortgage Insurance Premium
Mortgage Rates are lower, but Mortgage Insurance Premiums (MIP) for FHA-backed mortgages are continuing to rise. Despite this increasing trend of FHA, there is a way that borrowers can actually reduce or ditch their MIP completely. Even though FHA requires only require a minimum downpayment of 3.5%, FHA’s expensive Mortgage Insurance Premiums are costing them […]
New FICO Credit Scoring System Offering Consumers Lower Mortgage Rates
A change that many consumers have been waiting for has arrived, FICO scores are changing, giving a boost in consumer credit scores. This change may result in lower mortgage rates as well, giving more borrowers a chance at homeownership. What is FICO? FICO, a credit scoring system established by Fair Isaac Corporation is often used […]