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Tag: FHA

Will Trump End Reverse Mortgages?

Will Trump End Reverse Mortgages?

Reverse mortgages are in trouble. In fact, it’s fair to say that reverse mortgages may well be gone under the Trump Administration. “For most older people, the use of home equity in retirement is not a question of if, but when and how,” said Jay Greenberg, CEO of NCOA Services, a subsidiary of the National […]

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Trump, FHA Mortgages and Rethinking Discounts

Trump, FHA Mortgages and Rethinking Discounts

Speaking from the Capitol at his inauguration, our new President said “for too long, a small group in our nation’s capital has reaped the rewards of government while the people have borne the cost. Washington flourished, but the people did not share in its wealth.” And then, within an hour, it was announced that a […]

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2017 Mortgage Loan Limits — With Charts

2017 Mortgage Loan Limits — With Charts

For the first time in 10 years mortgage loan limits will increase, a step that will help borrowers and sellers in high-cost areas nationwide. The increase is not large — $424,100 in 2017 for most single-family homes versus $417,000 in 2016 — but it’s a step which many in the real estate industry welcome. Why […]

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How Trump Can Improve The FHA 203(k) Mortgage Program

How Trump Can Improve The FHA 203(k) Mortgage Program

One of the most-useful financial options in real estate is the FHA 203(k) loan, a handy bit of mortgage magic that deserves a lot more attention than it gets. The trick to the 203(k) is that under government rules borrowers can get loans which allow them to acquire or refinance a property and – at […]

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Real Estate: Why The Common-Sense Mortgage Is Back

Real Estate: Why The Common-Sense Mortgage Is Back

When are you going to re-do the mortgage book? It’s a question I get with some frequency because the “mortgage book” was published by Harper & Row in a series of editions that spanned more than a decade. It popularized a revolutionary idea, the thought that mortgage borrowers could save enormous amounts of money if […]

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Low Mortgage Rates Power Rising Home Prices

Low Mortgage Rates Power Rising Home Prices

Mortgage rates never move in a straight line. Whether moving up or down you can’t get excited about little blips here and there, a lesson we are seeing played out in 2016. According to Freddie Mac the rate for 30-year, prime mortgages stood at 3.97 percent as of January 7th. By March 10th the rate […]

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FHA Mortgages Face New Loan Competition

FHA Mortgages Face New Loan Competition

FHA mortgages have been under fire for a very long time, not because they’re a “bad” form of financing but because they’re an example of government directly competing with the private mortgage insurance companies. To resolve this “problem” there have been various back-door efforts to scuttle the FHA program, but now the lending industry is […]

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Can You Get FHA Mortgages With Your Credit Score?

Can You Get FHA Mortgages With Your Credit Score?

It’s never been easy to raise a down payment for FHA mortgages and this year is no different. The usual ways to get the money needed to buy a home have been to (1) get help from Mom and Dad; (2) eat hot dogs for six years and live like a hermit; (3) land a […]

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Ask OurBroker: Are FHA Mortgages A Rip-Off?

Ask OurBroker: Are FHA Mortgages A Rip-Off?

Question: FHA mortgages are government loans. I thought the government was going to help the home buyer and home owners out there to make affordable monthly payments? What’s up with the MIP? This is absolutely a big rip off for the buyer and homeowners. Answer: The FHA program has been around for a long time and […]

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FHA Mortgages Recover From Bush-era Losses

FHA Mortgages Recover From Bush-era Losses

Those who support FHA mortgages and the ability of homebuyers to purchase real estate with as little as 3.5 percent down got extremely good news this week: the latest annual report from the FHA showed that the program has now recovered from the policies of the Bush Administration and the massive losses they produced. For […]

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