Tag Archives: reverse mortgages

Is A Reverse Mortgage For You?

With home values plummeting, many seniors are considering reverse mortgages. That way they can stay in their homes and get the benefit of their hard-earned equity right away. They can spend now and enjoy life. Report: While reverse mortgages have … Continue reading

Posted in mortgage | Tagged , , , , | Comments Off on Is A Reverse Mortgage For You?

What Is A Reverse Mortgage Default?

It’s not easy to default on your reverse mortgage. You simply have to keep up your property. Pay the taxes. Pay the homeowners insurance. But if you can’t do these simple things, your reverse mortgage goes into default. Report: Reverse … Continue reading

Posted in mortgage | Tagged , , , , , | Comments Off on What Is A Reverse Mortgage Default?

How To Set Up A Reverse Mortgage

Frustrated with dealing with HUD (the federal department of Housing and Urban Development), Bank of America and Wells Fargo are getting out of the reverse mortgage market. Still, there are plenty of options left for people who want a reverse … Continue reading

Posted in mortgage | Tagged , , , , , | Comments Off on How To Set Up A Reverse Mortgage

HUD Ain’t Gonna Change Its Reverse Mortgage Program

Regulation by the federal department of Housing and Urban Development (HUD) has meant that banking giants Bank of America and Wells Fargo have left the reverse mortgage market. Wells Fargo did it with a dig at HUD, saying it couldn’t … Continue reading

Posted in Banks, mortgage, Politics | Tagged , , , , , | Comments Off on HUD Ain’t Gonna Change Its Reverse Mortgage Program

NYT’s Ron Lieber Says Reverse Mortgages Are Here To Stay

Bank of America and Wells Fargo got out of the mortgage game because they did not like operating the restrictive rules of HUD (department of Housing and Urban Development). Because banks are not allowed to pull the credit histories and … Continue reading

Posted in Banks, Foreclosure, mortgage, Politics | Tagged , , , , , | Comments Off on NYT’s Ron Lieber Says Reverse Mortgages Are Here To Stay

Who’s Going To Profit From Reverse Mortgages?

Now that Bank of America and Wells Fargo have left the reverse mortgage market, who’s going to profit? Some edgy smaller banks are going to cautiously step into this complicated and increasingly regulated market and look for some niche profits. … Continue reading

Posted in Banks, mortgage | Tagged , , , , , | Comments Off on Who’s Going To Profit From Reverse Mortgages?

Who Wants To Rule The Reverse Mortgage Market?

Increased government regulation and scrutiny has led Wells Fargo and Bank of America to leave the reverse mortgage market. The Dodd-Frank financial regulation bill passed by Congress in 2010 is dramatically cutting into consumer choice. Lenders have fewer options and … Continue reading

Posted in mortgage | Tagged , , , , , | Comments Off on Who Wants To Rule The Reverse Mortgage Market?

Wells Fargo Joins Bank Of America In Leaving The Reverse Mortgage Business

Reverse mortgages were all the rage four years ago. Times have changed. I remember a lot of talk about three years ago about how reverse mortgages were bad for seniors. That banks were predatory. Watch out for the big bad … Continue reading

Posted in Banks, mortgage | Tagged , , , , , | Comments Off on Wells Fargo Joins Bank Of America In Leaving The Reverse Mortgage Business

Wells Fargo Leaves The Reverse Mortgage Market

Wells Fargo is disproportionately in the mortgage business and is much more vulnerable to fluctuations in that market than the other major banks. To limit that exposure, Wells Fargo is gradually pulling back from various facets of the mortgage business. … Continue reading

Posted in Banks, mortgage | Tagged , , , , , | Comments Off on Wells Fargo Leaves The Reverse Mortgage Market

Get A Reverse Mortgage Or Sell Your House?

Reverse mortgages come with some stiff fees, so I understand why many experts recommend instead just selling your home outright and living somewhere else less expensively. The AARP is suing about reverses in the reverse mortgage business that have put … Continue reading

Posted in Banks, Foreclosure, mortgage | Tagged , , , , , | Comments Off on Get A Reverse Mortgage Or Sell Your House?