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Mortgage News for Friday - May 27, 2005

More Mortgage News
• Royal Bank Sells U.S. Mortgage Unit to New Century
• Mortgage Venture Targets Latinos
• HUD offers 'reverse mortgage' program for senior citizens
• New Ways to Qualify for a Mortgage and Refinance Mortgage
• Do mortgage lenders really discriminate?
• Company claiming to eliminate loans is probed by FBI
• Reverse mortgage ‘danger signals’
• Sizzling real estate market sets record in sales and price
• Real Estate Vs. Stocks
• What's Next for Real Estate?
Mortgage News
HUD offers 'reverse mortgage' program for senior citizens - 2005-05-27
Many older Americans facing retirement want to find a way to boost their monthly income. Today there are home ownership options that can help seniors optimize cash flow and promote peace of mind.

One option, a reverse mortgage, lets seniors to borrow against the equity in their home without repaying the debt for as long as they live there. That's the "reverse" part of this kind of mortgage loan.
Read the full story at Bolton Common
 
New Ways to Qualify for a Mortgage and Refinance Mortgage - 2005-05-27
If you have a so-so credit record or no credit record at all, the good news is that you're not the only one. There are approximately 35 to 50 million of you by some estimates. The bad news is that you'll likely find it very expensive or impossible to secure a mortgage in the usual way, which involves lenders checking your credit score from the main credit bureaus. If they like what they see, they'll offer you a decent deal. If not, you may have to pay outrageous interest in order to buy your dream home.
Read the full story at MSNBC
 






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