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reverse mortgage
A reverse mortgage is a loan against the equity in the home that provides tax-free cash advances, but requires no payments during the term of the loan. Since there are no monthly payments during the life of the loan, the balance grows larger and the equity gets smaller.The loan is not due and payable until the borrower no longer occupies the home as a principa...U.S. 30-, 15-Year Mortgage Rates Rise
WASHINGTON (Reuters) - Interest rates on U.S. 30-year and 15-year mortgages edged higher this week amid signs the economy is improving, stoking inflation concerns, mortgage finance company Freddie Mac said on Thursday. U.S. 30-year mortgage rates rose to an average of 5.82 percent in the week to Oct. 7, up from 5.72 percent a week earlier. Freddie Mac said 15-year mortgages ave...Second mortgage
A secured loan (or mortgage) that is subordinate to another loan against the same property. More specifically, the second loan in sequence.In real estate, a property can have multiple loans against it. The loan which is registered with county or city registry first is called the first mortgage. The loan registered second is called the second mortgage. A property can have a third or even...Mortgage Applications Down Last Week-MBA
NEW YORK (Reuters) - Applications for U.S. home mortgages decreased last week as rising interest rates led to a sizable decrease in refinancing activity and purchasing, an industry group said on Wednesday. "The increase in mortgage rates has reduced application activity across the board, particularly for refinances. Refinan...For more information about reverse mortgage: .
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