You may be familiar with the Home Equity Conversion Mortgage (HECM), or reverse mortgage program, which allows homeowners over age 62 to stay in their current homes while drawing on the equity. But did you know you can also use a HECM to buy a new home? For seniors looking to right-size or relocate in […]
A home inspection is critical to the home-buying process, and most lenders require one before loan origination. Even if your lender doesn’t require an inspection or you are purchasing a new build, an inspection is a small investment that can save you time, money and peace of mind in the long run. In fact, homebuyers […]
If you are retired or approaching retirement, you may find that a fixed income is not always enough to cover your expenses and maintain your desired lifestyle. Fortunately, there are other options to help you bring in extra money. One option is getting a roommate. A home equity conversion mortgage (HECM), also known as a […]
In 2018 investment activity in the home buying market reached an all-time high, making up more than 11.3 percent of all sales according to CoreLogic, Inc. Many of these investors were individuals in the early stages of building their portfolio. Buying your first investment property can be a daunting task, especially if you plan to […]
Natural disasters are nearly impossible to prepare for and can leave a wide swath of destruction in their path. From hurricanes and tornadoes to earthquakes and wildfires, unexpected disasters and extreme weather events can cause severe damage to your home. For many with reverse mortgage loans, it can be difficult to navigate the unknowns in […]
When disaster strikes your home and community, it’s devastating. It’s not just about losing a sense of security and day-to-day shelter, but determining how to move forward when everything is in disarray. The road ahead isn’t easy, but for homeowners in federally declared disaster areas, there is a form of assistance: the FHA 203h loan. […]
One of the benefits of buying a home is the potential to see your investment in the property grow over time. An upward trend in the value of the home will certainly help, but to increase the possibility of a return on the investment, you want to begin building equity, and one potential obstacle to […]
When a natural disaster like a flood, hurricane, or wildfire hits your home, it can be difficult to know where to begin on the path to recovery. What happens to your mortgage if your house is destroyed or you can’t make your payments? The first step is to notify your lender or loan servicer as […]
While Freddie Mac reports stable mortgage rates, that could change relatively soon. The Federal Open Market Committee decided not to issue a rate cut after a recent meeting on June 19, however, after much speculation and continued concerns over key economic factors, indicated that it may soon begin to lower interest rates. While current global […]
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