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A Guide to Reverse Mortgages
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In recent years, questions about reverse mortgages, and whether or not they are a practical way to supplement retirement income, have become more frequent. What is a reverse mortgage? There are three kinds of reverse mortgages. For example, money from a single purpose reverse mortgage could only be used to cover property expenses, including repairs, energy efficient improvements, taxes and ...
 
Mortgages demand serious thought
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Today, we’re going to talk about mortgages. Part of the problem that caused the great recession was that some people used their house like an ...
 
Can You Get One of the New Subprime Mortgages?
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Wells Fargo hit the news recently with the announcement it had dropped its minimum credit score for FHA-insured mortgages from 640 to 600 (the maximum is 850) — into subprime territory. “In recent months, a handful of lenders have said that they’re willing to go as low as 580,” writes The Wall Street Journal. Borrowers with FICO scores of 720 and higher still get the best rates, though. Are ...
 
More Seniors Are Doing Reverse Mortgages. Is This a Good Idea?
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A reverse mortgage is a type of loan that lets you borrow some of your home’s equity. Better to sell the house and downsize, move in with a family member, take on a roommate or explore whether one of your adult children might be willing to purchase the family house through an installment sale, Keating added.
 
Will mortgage rules spell the death of the two-year fixed rate?
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Cheap but short-term fixed-rate mortgages could be hit by a bid to ensure the irresponsible lending that contributed to the 2008 financial crisis is not repeated.
 
CYS management awaits pullback in mortgage prices
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Mortgages aren't that cheap anymore, says CYS Investments CEO Kevin Grant, on the earnings call . Asked a question about the sale of MBS in Q1 and purchase of Treasurys, Grant says his team can actually create a spread with government paper similar to that of mortgages. The bottom line according to CYS management: Low volume and high prices in mortgages make it a good idea to wait for a pullback ...
 
Borrowers to face 'invasive' questioning under mortgage crackdown
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Changes to mortgage lending will reduce availability of interest-only mortgages and could end cheap, short-term "teaser" deals
 
Mortgage lenders' confidence returns as small-deposit loans reach 2008 level
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Data shows 11,000 mortgages worth 85% of property's value were approved in February, the most since April 2008 The number of mortgages granted to homebuyers with a deposit of less than 15% reached a six-year high in February, according to the UK's largest chartered surveyor, in a further sign of lenders' confidence in the housing market. Data from e.surv, which undertakes valuations for more ...
 
Help to Buy will not drive up house prices, says minister
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Treasury minister Danny Alexander launches scheme saying 95% mortgages will not create housing price bubble Help to Buy: what you need to know People who think there is a housing bubble "need to get out more", a Treasury minister has said, as he defended the Help to Buy scheme on its launch day. Danny Alexander, the chief secretary to the Treasury, dismissed concerns that the scheme offering 95 ...
 
Help to Buy 'will not drive up house prices'
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Treasury minister Danny Alexander launches scheme saying 95% mortgages will not create housing price bubble Help to Buy: what you need to know People who think there is a housing bubble "need to get out more", a Treasury minister has said, as he defended the Help to Buy scheme on its launch day. Danny Alexander, the chief secretary to the Treasury, dismissed concerns that the scheme offering 95 ...