Premier Reverse Closings, a unit of National Closing Solutions, recently saved a borrower from foreclosure with the help of a reverse mortgage. The corporation helped the borrower to wind up the entire process in a record period of seven days. PRC first had to clear the title report for…
( correction: four in Orange County, changed from eight in second sentence.) Attorney General Jerry Brown revealed today that he has filed suit against 21 people and 14 companies, alleging that they scammed homeowners seeking to avoid foreclosure. At least four of those being sued are in Orange County.…
From the Milwaukee Journal Sentinel: Lenders abandoning foreclosed properties (ht Michael) Rodney Lass figured his days as a homeowner were over when he was hit with a foreclosure judgment more than a year ago. He stopped rehabbing his two-story Bay View home and moved on. But what Lass didn’t realize…
Here is a collection of real estate and economic graphs for data released in June … Note: Click on graphs for larger image in new window. For more info, click on link below graph to original post. ******************** New Home Sales in May (NSA) The first graph shows monthly new…
Let me say first, “WHAT A RUSH AND A BLAST!!!” Secondly, you can do this same thing, but as NIKE says, “JUST DO IT!!!” 1. SET THE DATE–commit to a time and work from their. I did Saturday at 10am to 11am in English and…
Hi folks, it’s been another interesting month in the mortgage business. Add to the underwriting delays, unexpected rate hikes and general frustrations of originating mortgages – HVCC has been an absolute nightmare. When I saw the NAMB Call to Action , I took a few moments to document my…
Mortgage originators everywhere are up in arms about HVCC , and for good reason. A couple weeks ago, I wrote an article at Lenderama about how NAMB President Marc Savitt has been fighting the good fight . The next two entries I’m making here at the Top of Mind…
The state of Texas has risen to be the third largest reverse mortgage market , with 30,000 loan sanctions totaling about $2.2 billion. The reverse mortgage loan volumes have increased by more than 208% between 2004 and 2008. Just during the past two years, Texas senior home owners have…
Studies showed that in the year 2007, buyers aged 55 and above accounted for 19% of all home buyers, according to a research study made by the Metlife Mature Market Institute and The National Association of Home Builders . But the number of houses bought by this age group…
Here is a piece of good news for all Washington state consumers. Due to a recently introduced law, residents of Washington will soon have access to more reverse mortgage lenders . They will also have more reverse mortgage safeguards for their security. Reverse mortgages are a special financing arrangement…