Remove 2009 Remove Clients Remove Housing Market Remove Insurance
article thumbnail

Reverse purchase financing: The financing option no one is talking about

Housing Wire

1 With over 12,000 Americans turning 65 every day in 2024, this burgeoning market will undoubtedly continue to bring more buyers and sellers to the table over the next decade. This is a huge boon for the program as seller concessions have not been allowed within the FHA-insured program since its inception.

Finance 419
article thumbnail

Silicon Valley’s ‘bridge bank’ resumes mortgage originations 

Housing Wire

Silicon Valley Bank resumed mortgage originations on Tuesday via its newly established “bridge bank” — just four days after California state regulators took possession of the financial institution and appointed the Federal Deposit Insurance Company (FDIC) as receivers.

Mortgage 326
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Fla. Unlikely to Feel Impact from Slowing Market

Empire Appraisal Group

markets, but Fla.’s Six of the nation’s top 25 most overvalued housing markets are in the Sunshine State, which can expect to see a “prolonged period of unaffordability” even as prices in other regions of the country cool. We are poised to have a very hot market through 2022 and a very robust spring homebuying season.”.

article thumbnail

What Is a Foreclosure and How Does it Work?

Quicken Loans

Foreclosure purchases thrived in 2009-2010 when a recession-battered housing market hit its peak foreclosure rate. Or, if there is an escrow shortage due to a rise in property taxes or insurance premiums, the escrow payment will increase. HUD-certified financial counseling. Government mortgage relief programs.

article thumbnail

FHA: Cosmetic vs. MPR Repairs

Appraisal Today

A three-year renovation, ending in 2009, converted the upper floors into the 7,000-square-foot penthouse. In addition to reducing upfront costs, Rocket Mortgage says ONE+ completely eliminates the expensive monthly mortgage insurance fee for the client —which is traditionally required if the buyer places less than 20% down on their purchase.