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Homeowner-related expenses including mortgages and home equity loans are the largest source of debt for older Americans, according to a new survey released by SeniorHomes.com
Homeowner-related expenses including mortgages and home equity loans are the largest source of debt for older Americans, according to a new survey released by SeniorHomes.com.   More than half of Americans who are 55 or over are in debt, with 40 percent owing $50,000 or more to creditors. Fifty-two... Keep Reading....
The 30-year fixed mortgage rate on Zillow Mortgage Marketplace is currently 4.52 percent, up 21 basis points from 4.31 percent at this time last week. The 30-year fixed mortgage rate steadily rose this week, peaking at 4.58 percent on Monday before dropping near the current rate this morning. “... more
ReverseVision has announced the signing of its newest client, MiLEND Inc. “After doing our research it was clear that ReverseVision is the most widely used and most recommended software for originating and closing reverse mortgages,” said Sam Morano, managing director at MiLEND Inc. By leveraging... more
In another leap forward for the Home Equity Conversion Mortgage (HECM) program, pending legislation would reduce financial risk for both potential borrowers and the federal government. The National Reverse Mortgage Lenders Association (NRMLA) has urged Congress to promptly provide the U.S.... more
National Reverse Mortgage Lenders Association (NRMLA) President Peter Bell told members of a key Senate committee that proposed changes to the federal reverse mortgage program would increase protections for consumers and improve financial stability of the program. “The three primary changes that... more