Archive for Reverse mortgages

Apr
28

Adjustable-rate loans are changing, because a widely-used interest rate index expires in June

by gypsy

A commonly used interest rate index officially ends on June 30, 2023

See the full post at consumerfinance.gov

0 Categories : CFPB, Credit cards, Info for consumers, Mortgage Servicing, Mortgages, Reverse mortgages, Student loans
Dec
7

The LIBOR index for adjustable-rate loans is being discontinued: here’s what to watch for

by gypsy

If you have an adjustable-rate mortgage, reverse mortgage, HELOC, student loan, or credit card, your interest rate may be based on the LIBOR index, which is being discontinued

See the full post at consumerfinance.gov

0 Categories : CFPB, Credit cards, Info for consumers, Mortgage Servicing, Mortgages, Reverse mortgages, Student loans
Jul
22

We have resources to help you avoid foreclosure

by gypsy

The federal foreclosure moratoria are set to expire July 31st, and lenders and mortgage servicers can start foreclosing on homes as soon as August 1st

See the full post at consumerfinance.gov

0 Categories : CFPB, Disasters and emergencies, Foreclosure, Housing counselor, Info for consumers, Mortgage Servicing, Mortgages, Older Americans, Reverse mortgages
Dec
16

Avoid reverse mortgage shopping scams

by gypsy

As a result of the economic uncertainty caused by the COVID-19 pandemic, scammers may be targeting older homeowners through reverse mortgage schemes

See the full post at consumerfinance.gov

0 Categories : CFPB, Info for consumers, Older Americans, Reverse mortgages
Aug
24

Things to consider before borrowing a reverse mortgage to delay collecting Social Security

by gypsy

We released several new resources to help older homeowners
decide whether to borrow a reverse mortgage

See the full post at consumerfinance.gov

0 Categories : CFPB, Info for consumers, Older Americans, retirement, Reverse mortgages
Jun
4

Consumer advisory: Don’t be misled by reverse mortgage advertising

by Nora Dowd Eisenhower

You might see enticing images of youthful retirees on the golf course or enjoying other leisure activities in a reverse mortgage advertisement

See the full post at consumerfinance.gov

0 Categories : CFPB, Consumer advisory, Mortgages, Older Americans, Reverse mortgages
Feb
9

Consumer advisory: Three steps you should take if you have a reverse mortgage

by Nora Dowd Eisenhower

Reverse mortgages are a type of loan that allows homeowners, 62 and older, to borrow against the accrued equity in their homes

See the full post at consumerfinance.gov

0 Categories : CFPB, Consumer advisory, Mortgages, Older Americans, Reverse mortgages
Sep
24

Updated reverse mortgage guide: Two things you should know

by Nora Dowd Eisenhower

More and more homeowners are considering tapping their home equity as they approach retirement age

See the full post at consumerfinance.gov

0 Categories : CFPB, Older Americans, Reverse mortgages

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