What is an HECM loan? Often times people hear the term HECM loan and they don’t understand what HECM stands for. HECM stands for Home Equity Conversion Mortgage, also know as an FHA Reverse Mortgage. A HECM is the only Reverse Mortgage insured by the Federal Government. This loan program is great for individuals age [...]
Buying a New Jersey home vs. renting is a big decision that takes careful consideration, however, the rewards of home ownership are significant. For many years, purchasing New Jersey real estate has been considered an extremely profitable investment. It is an achievement that offers a sense of pride, financial stability and potential tax advantages. Since [...]
Arizona reverse mortgage loan limits have increased for 2009. Now seniors can get an Arizona reverse mortgage for up to $625,500.
Seniors can buy a home with an Arizona reverse mortgage using the FHA HECM reverse mortgage for purchase program. It is possible to put no money down and make no monthly payments with the FHA HECM reverse mortgage for purchase program.
Double wide and single wide manufactured home FHA loans available. Homes require concrete foundations and tie downs. Pre-1975 (June 15) and homes on leased land not applicable.
Purchase loans for seniors in Oregon, using the FHA Reverse Mortgage Program (HECM), will be available starting January 1, 2009. These Reverse Mortgage loans were authorized by the Housing and Economic Recovery Act of 2008 (HERA). HERA defines “HECM for Purchase” as a real estate purchase where title to the property is transferred to the [...]
During an economic downturn, especially involving real estate, there is almost always someone around to take advantage of homeowners. Now, with an increase of foreclosures, we have a number of foreclosure scams starting or continuing to operate. Homeowners facing foreclosure should beware of foreclosure scams. Scammers can cause the homeowner to lose both the home [...]
About Fred Chamberlin with Alpine Mortgage Planning in Eugene: With over 20 years of real estate lending in Eugene Oregon, Fred specializes in first-time home buyer FHA, VA and USDA mortgages. I have been in the mortgage business for over 20 years and working in the Eugene/Springfield area for more than 15 years. I am a native Oregonian [...]
So, what is an FHA Reverse Mortgage? Maybe, a better, more specific question is: What the heck is a HECM? Well, HECM stands for Home Equity Conversion Mortgage. It is a way for seniors to tape the equity in their property without taking on payments that will cause them difficulty in the future. The HECM FHA [...]
Did you know that when it comes to looking at a FHA Reverse Mortgage Loan, you do not have to prove your income or even have good credit? Why? Because an FHA Reverse Mortgage Loan is designed to let YOU take advantage of tax free income from your home for the rest of your life! [...]
*This is not an offer to lend. 
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