Mayor Duggan announces Detroit Home Mortgage program
DETROIT (AP) – A new program is expected to allow qualified buyers to receive separate mortgages to purchase and do repairs on homes in Detroit. Mayor Mike Duggan announced details of the Detroit Home Mortgage initiative Thursday at a home for sale in …
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Couple threatened with eviction after taking out reverse…
MIAMI GARDENS, diagnosis Fla. – The attorney of a retired South Florida teacher and her husband who were facing eviction after taking out a reverse mortgage told "Call Christina" that the lender has withdrawn a motion of eviction as repayment plan negotiations …
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Spending Options for a Reverse Mortgage
Most current HECM reverse mortgages use an adjustable interest rate, and which allows the proceeds from the reverse mortgage to be taken out in any of these four ways or a combination thereof: Click here to download Dr. Pfau's reverse mortgage fact sheet. 1.
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For some New Jersey homeowners seeking a lifeline, this reverse mortgages can backfire
(Private companies also offer reverse mortgages, according to Carr, but the FHA offers the vast majority of the loans.) Homeowners are required to keep current on their property taxes, pay their homeowner's insurance, and maintain their property in …
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