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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. That’s where reverse purchase financing comes into play, the funding option specifically designed for older Americans. What is reverse purchase financing?

Finance 449
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Review of MMI Fund’s reverse mortgage book sheds light on evolving HECM

Housing Wire

Total endorsements between fiscal years 2009 and 2023 were 863,102, a rough estimate of the total number of customers served by the HECM program since the early aftermath of the Great Recession. Loan amounts and HECM limits The actuarial report also detailed loan amount information and how these have changed since fiscal year 2009.

Mortgage 378
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Help for troubled borrowers is on the way. But will it come soon enough?

Housing Wire

Wilen’s case illustrates how some Americans have a lot to lose if policies designed to help mortgage borrowers don’t break right. The recent experience with state distribution of rental assistance and unemployment insurance is perhaps a preview of the challenges ahead. He is afraid of losing his home. Up to the task?

Mortgage 366
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How to select appraisal comps

Appraisal Today

acre lot, built in 2009 This elegant, Georgian mansion is said to be owned by a former executive with ties to the Grey Goose vodka fortune. The 24-room residence was custom built in 2009 and is loaded with exquisite finishes. It’s been on and off the market since 2022, with a top asking price of $33.8 Excerpts: 10 bedrooms, 14.5+

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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.