Mortgage Articles

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New reverse mortgage rules cut annual premiums
Mortgage

New reverse mortgage rules cut annual premiums

Seniors recently received a “good news, bad news” change to the most popular reverse mortgage program in the country. Borrowing costs will drop — the good news — but the bad news is that many will be able to borrow less money against their homes, according to the revisions by the U.S. Department of Housing and Urban Development, or HUD.

Kirk Haverkamp
3 years ago
New underwater refinance programs to start Oct. 1
Mortgage

New underwater refinance programs to start Oct. 1

Two new programs for refinancing underwater and low-equity mortgages are due to launch Oct. 1. That means homeowners who owe more on their mortgage than the property is worth should have an easier time getting their mortgage refinanced into a better home loan.

Aaron Crowe
3 years ago
HARP ends soon, but replacement programs in the wings
Mortgage

HARP ends soon, but replacement programs in the wings

Time is running out on the Home Affordable Refinance Program, better known as HARP, which will come to an end on Oct. 1. But that doesn't mean that homeowners with negative or low equity won't be able to refinance their mortgages.

Kara  Johnson
3 years ago
Are automated appraisals the wave of the future?
Mortgage

Are automated appraisals the wave of the future?

Appraisals have long been a necessary, if sometimes frustrating, part of the mortgage-lending business.  Before lenders approve a purchase mortgage or refinance, they’ll send an appraiser to determine the current market value of a home.

David  Mully
3 years ago