Financial Foundations

A reverse mortgage is essentially a special type of loan that seniors can use to convert the equity in their homes to cash. At one time, the only way to get money from your home was to sell it and move or borrow money against it.

One of the pros of a reverse mortgage is that you [...]

Second mortgage rates are dropping, but lenders are tightening up the qualification requirements for home equity loans and lines of credit.

In professional basketball, there are high percentage shots (dunks), and last-second, circus attempts thrown up to beat the clock. The climate of today’s environment for second mortgages is somewhere in between, something [...]

Effective March 6, 2008, HUD will offer temporary FHA loan limits that will range from $271,050 to $729,750 (Limits). Overall, the change in loan limits will help provide economic stability to America’s communities and give nearly 240,000 additional homeowners and homebuyers a safer, more affordable mortgage alternative. The maximum amount of $729,750 will only be [...]

I am pleased to announce that Nehemiah was victorious in its litigation against HUD! See letter below…

Steve

Judge Lawrence K. Karlton of the United States District Court for the Eastern District of California upheld Nehemiah’s motion for summary judgment. The Court Clerk’s Office is directed to enter judgment and close the case.

To be clear, the [...]

In response to their growing popularity, ALendingPro.com has begun to specialize in, and offers reverse mortgages to qualified senior citizens. In previous years, only about 50,000 reverse mortgages were acquired, but this figure is expected to rise dramatically as the "baby boomer" generation ages. Many see reverse mortgages as the new key to making the assets of [...]