jumbo
The Power of 2.1%, The Clear Choice of Jumbo Reverse Mortgages
Many borrowers look at a few of the important aspects of their proposed jumbo reverse mortgage. How much money will they get, How much are the fees, what is the starting interest rate but so often these are about the only items they concern themselves with.
Some borrowers also insist on getting fixed rate reverse mortgages, [...]
Jumbo Reverse Mortgages…What’s Happening To The Market?
If you have been reading the articles about jumbo or proprietary reverse mortgages available, you may be wondering what is going on. A jumbo or proprietary reverse mortgage is any program that is not the FHA, government insured Home Equity Conversion Mortgage (HECM or “Hek-um”) or the Federal National Mortgage Association HomeKeeper Program.
When first introduced, [...]
Secondary Market Halts Jumbo Reverse Mortgages
The last jumbo or proprietary reverse mortgage lender in the market just announced today that they are suspending their jumbo reverse mortgage program.
Their official announcement came out at 5:00 tonight stating that any loans in their pipeline must close by November 26, 2008 or the loans would have to be changed to the government Home [...]