Real estate blog entries tagged with jumbo reverse mortgage by Luke Helm (www.Reverse-Mortgage-Info.net)

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jumbo reverse mortgage: Jumbo Reverse Mortgages Versus FHA - 07/17/08 03:44 PM

Seniors with high value homes may qualify for more money with a Jumbo Reverse Mortgage program. The two main types of reverse mortgages are: FHA conforming and non-conforming, the latter commonly known as a Jumbo Reverse Mortgage. An FHA conforming reverse mortgage carries a loan limit of $362,790 in most high-cost … (1 comments)

jumbo reverse mortgage: HECM Reverse Mortgage Limits: Open Letter to My Senators - 06/24/08 12:38 PM

I just faxed the following letter to Diane Feinstein and Barbara Boxer (California State Senators), concerning a senate bill being debated today:
"Tens of thousands of senior homeowners in California need the FHA-insured HECMs to help them maintain their ability to continue living independently in their own homes. But the FHA … (0 comments)

jumbo reverse mortgage: Reverse Mortgage Interest Rates This Week - 06/24/08 11:49 AM

The following is an interest rate update on reverse mortgage programs.
FHA Reverse Mortgages (Home Equity Conversion Mortgage or ‘HECM')
The HECM rate is at 4.07%. This is based on the One Year CMT index at 2.57% plus a margin of 1.5%.
The fixed rate HECM is at 6.30% to 6.68% … (2 comments)

jumbo reverse mortgage: Jumbo Reverse Mortgage Pulled by Financial Freedom - 06/18/08 06:03 PM

First Bank of America pulled their jumbo reverse mortgage product and now it's the 800 pound gorilla of the industry, Financial Freedom. The company, a division of Indy Mac Bank, just announced that the last day they will accept applications for their program called the Cash Account is June 30th.
Fortunately, there are still several jumbo reverse … (0 comments)

jumbo reverse mortgage: California Reverse Mortgage Interest Rates Increase - 06/17/08 01:48 PM

The rates have gone up this week, probably in response the recent bond market changes. Here are today's interest rates for the top reverse mortgage programs:
FHA Reverse Mortgages:
The HECM, which is the FHA Home Equity Conversion Mortgage rate is 4.01% (Index is the 1 Year CMT at 2.51% plus … (0 comments)

jumbo reverse mortgage: Bank of America Reverse Mortgage Jumbo Program Suspended - 04/28/08 02:01 PM

First it was Countrywide, and now its parent, Bank of America has officially suspended their jumbo reverse mortgage program.
The leading jumbo reverse mortgage lender emailed its lending partners today with the announcement. It appears that nationwide declining property values and the resultant lack of investor interest in mortgages has killed the … (0 comments)

jumbo reverse mortgage: Countrywide Jumbo Reverse Mortgage Folds - 04/17/08 01:25 PM

In the world of reverse mortgages, there are basically two types of programs. Government-backed reverse mortgages and jumbo reverse mortgages, also known as proprietary reverse mortgages. The latter are so called because they are designed and funded by individual banks. Given their conservative loan to value ratios, they generally only make … (4 comments)

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