Cook County Sheriff has announced its suspending evictions for foreclosures where lenders do not provide adequate notice to people that are living in houses as a tenant rather than the owner.  The sheriff’s office has seen almost double the number of foreclosures from last year and the suspension on evictions has received a large amount […]

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The National Reverse Mortgage Lenders Association recently announced that the Department of Housing and Urban Development (HUD) approved a single national loan limit of $417,000 for federally insured Home Equity Conversion Mortgage (HECM) reverse mortgages. The new, higher lending limit will enable borrowers to obtain a substantially greater benefit from their homes, if their home […]

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The Federal Reserve recently released its comprehensive report on banks’ 2007 lending practices  that showed that overall mortgage lending dropped sharply.  Total originations dropped 25% from 2006 and that nearly one in three applicants were denied.  The reports findings are based upon information collected from mortgage lending institutions under the Home Mortgage Disclosure Act […]

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With the recent government take over of Fannie Mae and Freddie Mac, many people are proclaiming that this may be the first step towards setting the housing market back on the right course.  Whether you agree with this or not, its important to realize that this will provide some additional support for the senior housing […]

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Today Fannie Mae announced on September 3rd that they would be discontinuing their Home Keeper reverse mortgage product.  With the Housing and Economic Recovery Act of 2008 being signed into law, the product has become obsolescent based upon that legislation.  Below is a copy of the announcement from FNMA.

As you are aware, Congress passed, […]

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As the market for residential real estate continues to be dismal, should we look at the flip side of the coin for those seniors who are beginning to examine retirement locations? Putting aside the sale of their current residence, could the most popular places for retirement such as California, Florida and Nevada be some of […]

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