Strict tests will ensure that only homeowners who can really afford such schemes can take out equity, which have been a popular way for many to raise extra funds.
8th december 2011 The White Rose Credit union is providing interest-free home loans for vulnerable people around the district. The loans pay for essential repairs and disabled adaptations.
Professional landlords are showing signs of confidence by taking equity out of unmortgaged properties they own to expand and gear up investment potfolios.
Reverse mortgages granted in 2010 were down nearly a third from levels in 2009, due to stricter regulations and the housing slump. While some see reverse mortgages as a sophisticated tool, many say it’s only a last resort.
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Reverse mortgages harder to get. Is one right for you?
The number of mortgages issued for Spanish homes in April registered a drop unseen since the end of the housing boom, confirming the weakness of a real-estate market that is penalizing the country’s banks and growth.
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Spanish Mortgages Decline at the Fastest Rate Since the Housing Boom Ended
Wells Fargo, the largest U.S. home lender, is retreating from reverse mortgages in part because of “unpredictable home values,” the company said last week.
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MetLife Pushes Reverse Mortgages as Wells Fargo, Bank of America Retreat
Wells Fargo and Bank of America have left the business of reverse mortgages, a type of home equity loan, as falling home prices have made it more unpredictable.
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Biggest Banks in Reverse Mortgages Exit Business
Wells Fargo Home Mortgage announced today that it will discontinue origination of Home Equity Conversion Mortgages , commonly known as reverse mortgages.
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Wells Fargo Home Mortgage Discontinues Home Equity Conversion Mortgages
Mortgage rates changed little this week, with the 30-year fixed-rate mortgage inching up to 4.5% from last week’s 4.49% average, according to Freddie Mac’s weekly survey of conforming mortgage rates.
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Mortgages: 30-year fixed-rate mortgage inches to 4.5%
share: digg facebook twitter According to a 2011 first quarter report from real estate data firm CoreLogic, 9.2 percent of area residential properties with a mortgage were underwater. Borrowers in Texas can’t take out home equity loans larger than 80 percent of the value of their homes. According to CoreLogic, more than 40 percent of underwater borrowers have home equity loans.
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Underwater mortgages on the decline in San Antonio
Paragon Mortgages 12 – Notice to Noteholders
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Paragon Mortgages 12 – Notice to Noteholders
The number of homeowners underwater on their mortgages in the United States declined slightly during the first three months of the year.
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Fewer homeowners are underwater on mortgages
One-year adjustable-rate mortgages fall to 2.95% this week — their lowest level in the history of Freddie Mac’s weekly survey of conforming mortgage rates — after a weaker than expected jobs report pushed all mortgage rates lower, Freddie Mac reported on Thursday.
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Mortgages: 1-year ARM falls to record low below 3%
