Given damage to our economy by Covid-19, many people are concerned about declining property values. Potential declines are possible….even likely, given that recovery won’t happen overnight. However, declines aren’t likely to be as severe as those following the 2008 recession.… Read the rest
The word “remodel” often gets one thinking that improvements are being made to a home in order to increase the value of the house or to improve the aesthetics. However, … Read the rest
In response to economic impact caused by Covid-19, many major lenders have issued advisories offering to allow mortgage clients to defer mortgage payments for three months. Fannie Mae and Freddie Mac, the largest providers of funds for conventional mortgages, agreed … Read the rest
In a recent story titled How to Create a Retirement ‘Paycheck,’ syndicated columnist and certified financial planner Liz Weston recommended strategies for improving retirement security that included getting a reverse mortgage.
After first discussing income annuities, Weston added, “Another option … Read the rest
When you’re shopping for a new home, it’s not uncommon to hear your realtor say that a house has “good bones.” But what does that mean? You might notice that they … Read the rest
No, this isn’t an error nor is it at all misleading! It really is free money! As I’ve written previously, home ownership does very good things for the homeowners themselves as well as for their communities, state and country.
Also, … Read the rest
More than 30 years ago a gentleman purchased his first home. He did not qualify for the loan so his sister and her brother signed onto the purchase and the new loan. Over a 15 year time period the gentleman … Read the rest
A reverse mortgage loan is simply another type of mortgage…with a couple of great features. The best one?
You don’t have to make monthly payments!
You can pay any amount, any time, if you choose, with no penalty but…the choice … Read the rest
This is from the National Reverse Mortgage Lenders Association:
As with any financial transaction–be it a mortgage, a credit card or even a bank account–there are specific rules and obligations attached to reverse mortgages. Some of them are unique to … Read the rest
This is from the National Reverse Mortgage Lenders Association. Among the rules and obligations you need to be aware of for a Reverse Mortgage are:
Everyone listed on the deed of a home owned by someone seeking a reverse mortgage … Read the rest
Yesterday the Feds increased the Fed Funds Rate by a quarter percent….as expected. Unexpectedly, after-meeting official comments eliminated reference to “accommodative” rates and indicated two more potential increases in 2018 instead of one.
What does this mean? There are pros … Read the rest
The U. S., along with along with many other countries, has reached record levels of consumer and government debt.
The reasons why are too numerous to mention here, but interest rates, kept too low for too long, is one of … Read the rest
People stress about moving. So do people’s pets. Dogs and cats are especially prone to pressure caused by unexpected activities, such as moving trucks in the driveway and a new pile of boxes in the hall. Unfortunately, there … Read the rest
Some people are dog lovers, while others aren’t. While the latter seems crazy to you, you need to keep this in mind when you are trying to sell your home. For some potential buyers, the dog-friendly aspect will be a … Read the rest