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Experts weigh in on whether seniors should get new mortgages: Bankrate

Housing Wire

Even if one owns a property with no further mortgage payments due, property taxes and upkeep will be a consideration,” Bankrate senior economic analyst Mark Hamrick said. “As An analyst for Bankrate describes some challenges that could be unique to older mortgage borrowers if they take on a new, debt-based financial instrument.

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California HAF requirements extended in bid to entice more beneficiaries

Housing Wire

The relief — which is available to reverse mortgage borrowers — is designed to assist anyone who has fallen behind on their mortgage payments due to the economic shock of the COVID-19 pandemic. 1 and are still in arrears, or who’ve missed at least one property tax payment by Feb. 1,” the Los Angeles Times reported.

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HAF funds have kept 300,000 people in their homes: U.S. Treasury

Housing Wire

The Homeowners Assistance Fund (HAF) — a program designed to offer financial help to homeowners impacted by the COVID-19 pandemic — has kept more than 300,000 homeowners in their homes by curing defaults and keeping them out of foreclosure , according to data released this week by the U.S. Department of the Treasury. “As

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How reverse mortgages could improve financial stability for older homeowners

Housing Wire

CM : Firstly, reverse mortgages, whether government-insured or proprietary, are non-recourse loans. Also, an independent appraisal during the loan process locks in the property’s market value at the time the reverse mortgage loan is funded. Not tax advice. Consult a tax professional. †

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Mr. Cooper exits reverse servicing space with sale to MAM

Housing Wire

The same day Mr. Cooper announced the initiation of the Champion sale, the company also announced that it completed the sale of title insurance and settlement services provider Title365 to digital lending software company Blend Labs, Inc. These benefits will contribute to even stronger momentum for Mr. Cooper.”.

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The Hidden Costs of Homeownership

Eppraisal

It's prudent to establish an emergency fund specifically designated for home repairs. Property Taxes Property taxes are often overlooked in the excitement of buying a home. These taxes are based on the assessed value of your property and vary depending on your location.

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8 Reasons the Barndominium Is Gaining Popularity in North Texas – by Don Howe

DW Slater Company

Designed to combine work and living spaces, these large buildings have become a popular choice for those in rural regions. You also need to consider the quality of the materials and the extra details, such as doors, windows, and special design features. The frame of a barndominium allows you to use large open designs.

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