Reverse mortgage lender Finance of America is offering a new product that allows older homeowners to access their home equity without, they say, adding another monthly expense. Processing Content The lender launched HomeSafe Second Line of Credit, a second-lien reverse mortgage line of credit that allows homeowners 55 and older to draw funds as needed […]
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Key insight: The Trump administration’s budget proposes a $204.5 million cut to the Treasury Department’s Community Development Financial Institution Fund, and would redirect remaining awards to rural areas. What’s at stake: The proposal reflects months of conflict between the Office and Management and Budget and Treasury over the fund’s future, with OMB withholding congressionally appropriated
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Improved affordability and increased inventory helped the spring homebuying season get off to a strong start, but the recent rise in mortgage rates has pushed some buyers out of the market, according to ICE Mortgage Technology’s latest mortgage monitor report. Processing Content “Mortgage rates bottomed near 5.95% early this year, pushing affordability to its best
Spring’s hot housing market just ran into a problem Read More »