Condo Communities Can Look to Reverse Mortgages and FHA loans again Once Regulations are Adopted The most relevant provision of the changes will emulate the FHFA’s rules regarding the transfer fees for FHA mortgages including reverse mortgages. In July 2015 FHA began refusing to approve condominiums in higher…
FHA will be accommodating younger spouses under the age of 62 this August. Situations where a couple would benefit from a reverse mortgage but one spouse does not happen to be 62 can now be accommodated and allow the non-borrowing spouse to stay in the home, even if…
Given the state of our economy one of the most common questions I’m asked is when a family that has gone through a short sale, or foreclosure or bankruptcy, would be eligible to purchase a home. The following gives you a general idea of what the requirements are.…
Financial assessment will become an integral part of the requirements for reverse mortgages in the future, according to a NY Times report Friday. This follows a change in April that suspended the standard fixed Home Equity Conversion Mortgage (HECM). Both of these changes were made to ensure the…
The Administration announced that the FHA will cut its fees for refinancing loans already insured by the FHA. Fees will be reduced to 0.01% for the up front fee (from 1.15%) and the annual fee to 0.55% from 1.15%. This https://www.paydaynow.net/installment-loans/ will apply to loans originated prior to…