Media pundits tout HELOCs- a bad idea? The impact of the coronavirus on home values This week we had the chance to connect with Martin Andelman for his perspectives on the use of HELOCs by older homeowners, how the coronavirus will impact the housing market, and other financial matters.
As other lending options fail, the HECM delivers solutions A banker lends you his umbrella when it is sunny and wants it back when it rains. So says the well known joke about the sad state of consumer lending. “After the recession, our clients called, telling us that their banks
With the recent release of HUD’s Financial Assessment guidelines our focus was primarily centered on the new requirements future borrowers will have to walk through to qualify for a federally-insured reverse mortgage or Home Equity Conversion Mortgage...
HELOCs have begun to resurge in the mortgage market as home values have nearly recovered from their pre-crash values and today’s artificially low interest rates. While banks make these loans attractive to the average consumer what is often overlooked or not expressly pointed out are the risks and limitations.
The next mortgage bubble with pending HELOCs written in the mid 2000’s could spell opportunity for reverse mortgage lenders and originators alike. A recent study by TransUnion echoes what some mortgage experts have been warning us of in the last year: there is a coming HELOC bomb that could explode