Last week’s article on reverse mortgages generated a very interesting response from one reader. Unfortunately, due to his choice of vocabulary, I can’t print his response here. Suffice it to say that this advisor doesn’t want me saying anything negative about his chief source of revenue. This week I’d like to pull back the curtain’ on the real reason reverse mortgages have become so heavily marketed and what you need to do as a consumer to protect yourself. (more…)
Many savvy home buyers are very interested in getting the best rate on their future mortgage. After all the difference between a 5.25 and a 5.5% interest rate on a $200,000 loan can be as much as $500 per year or $42 per month. A wise home buyer certainly will contact a few Mortgage Companies to find the one with the best terms. (more…)
The National Association of Realtors (NAR) announced today that existing home sales decreased 0.4% in January, when compared to the previous month’s sales. (more…)
Quicken Loans Chief Economist Bob Walters says with long-term rates starting to rise, the industry is seeing a resurgence of consumer interest in adjustable rate mortgages (ARMs). (more…)
