An owner builder construction loan, just like any construction loan, will not have any mortgage insurance payments while you build. So, why is it then that mortgage insurance companies are having a huge impact on your ability as an owner builder to secure your loan? The answer lies within the banks’ rules for converting [...]
Over 2 Million American families have found themselves to be an unlikely statistic as foreclosure rates continue to skyrocket, even causing some lenders to fail. Fannie Mae and Freddie Mac needed a “bail-out” of themselves from the government. It’s getting bad with yet another wave of foreclosures set to begin in 2009.
Many of these will [...]
Car company GM says it will start paying back a US government loan earlier than expected, in a sign of its improving fortunes. Read More GM to start loan repayments early
A reverse mortgage (known as lifetime mortgage in the United Kingdom) is a loan available to seniors (62 and older in the United States), and is used to release the home equity in the property as one lump sum or multiple payments.
The homeowner’s obligation to repay the loan is deferred until the owner dies, the [...]