Sentences with phrase «called a home equity»

In 1987, Congress passes an FHA insurance bill called the Home Equity Conversion Mortgage Demonstration, which is a reverse mortgage pilot program that insures reverse mortgages.

You may have seen Reverse Mortgages, also called Home Equity Conversion Mortgages (HECM), in the news lately.

A private mortgage loan comes from a private mortgage lender who providing the money; it is also called a home equity loan or private second mortgage.

What the government calls home equity conversion mortgages — HECMs — have been a trouble spot for the FHA because of high claim levels.

After having built enough equity on your first mortgage, you can take another loan, called a home equity loan, and use your home as collateral.

A debt consolidation loan can take the form of a second mortgage on your home (also called a home equity loan), a line of credit or a bank loan secured by some other asset or guaranteed by a family member or friend.

Luckily, the popular government insured reverse mortgage loan, also called a Home Equity Conversion Mortgage (HECM), is non-recourse.

Reverse mortgage loans, including the government - insured version called Home Equity Conversion Mortgages (HECMs), are home loans that enable seniors to access a portion of their home equity without having to pay a monthly mortgage payment.

It's called a Home Equity Conversion Mortgage (HECM) for purchase, and is sometimes referred to as a reverse mortgage purchase loan.

Also called a home equity line of credit, this funding option will be put into an account that the homeowner may then draw from on an as - needed basis.

The FHA reverse mortgage program — what HUD calls Home Equity Conversion Mortgages (HECMs)-- is producing massive losses and the idea of record endorsements must pain HUD officials.

FHA reverse mortgages, also called home equity conversion mortgages (HECM), provide homeowners 62 and over with a method for paying off existing mortgages and drawing on remaining home equity.

This government - insured home equity loan, more specifically called a Home Equity Conversion Mortgage (HECM), was developed exclusively for seniors and signed into law in 1988.

What remains to be seen is whether or not reverse mortgage loans, also called home equity conversion mortgages or HECM loans, can continue to serve their intended purpose.

The last fiscal year was the best on record for the program with 112,154 reverse mortgages being insured by what HUD calls Home Equity Conversion Mortgages (HECMs).

An additional and often used benefit from owning a home is called a home equity line of credit which can help with consolidating debts or starting a small business.

A reverse mortgage, also called a home equity conversion mortgage (HECM), lets seniors who are at least 62 years old access the home equity from their primary residence in the form of a lump sum, a line of credit, a stream of monthly payments or some combination of these.

Since 1989, the U.S. Department of Housing and Urban Development has worked with private lenders to administer what are officially called home equity conversion mortgages, commonly called reverse mortgages.

This is called a home equity loan, but is also known as a second mortgage since it is in addition to the actual home loan.

The majority of reverse mortgages are called Home Equity Conversion Mortgages (HECM) and are Federally Insured.

The major source of reverse mortgages has been the one insured by the Federal Housing Administration (FHA) called the Home Equity Conversion Mortgage program (HECM).

Another type of popular credit is called a home equity line of credit, or HELOC, which applies specifically to homeowners but is similar in concept...

This loan is called a home equity line of credit and it can be used for many different purposes.

While we've often mentioned FHA's growing pains resulting from astronomical growth in its market share over the past couple of years, the January 2010 FHA Outlook report indicates wavering volume in FHA home loans in general, and FHA reverse mortgage loans, also called Home Equity Conversion (HECM) loans, in particular.

Addressing concerns about increasing default rates for reverse mortgage loans, FHA has issued new guidelines for servicing reverse mortgages, which HUD calls home equity conversion (HECM) loans.

Third, you have to wonder why the FHA continues to insure reverse mortgages, what HUD calls home equity conversion loans (HECMs).

The reverse mortgage called the Home Equity Conversion Mortgage (HECM) and traditional FHA loans are both federally insured, and require that borrowers pay a mortgage insurance premium in order to decrease risk to lenders if the homeowner defaults on the loan.

There's also an open - end credit line version of this loan called a Home Equity Line of Credit (HELOC).

Another type of popular credit is called a home equity line of credit, or HELOC, which applies specifically to homeowners but is similar in concept to credit cards.

HELOC funds can be drawn when you need the money instead of taken in a lump sum, as is common with second mortgages, which also are called home equity loans.

Private lenders first introduced the reverse mortgage concept in the 1950s, but it did not gain popularity until 1987 when Congress authorized the Department of Housing and Urban Development to administer a new reverse mortgage program called the Home Equity Conversion Mortgage (HECM) Insurance Demonstration.

The most popular reverse mortgage is backed by FHA and is called the Home Equity Conversion Mortgage, or HECM (pronounced «heck em»).

The only reverse mortgage insured by the U.S. Federal Government is called a Home Equity Conversion Mortgage or HECM, and is only available through an FHA approved lender See HUD's reverse mortgage.

The Federal Housing Administration (FHA), a mortgage insurance entity within HUD, the U.S. Department of Housing and Urban Development, insures a financial product called a Home Equity Conversion Mortgage (HECM) that is only available to homeowners 62 and older.

A federally - insured reverse mortgage is called a Home Equity Conversion Mortgage (HECM).

Luckily, the popular government insured reverse mortgage loan, also called a Home Equity Conversion Mortgage (HECM), is non-recourse.

This type of loan is called a home equity loan, or cash - out refinance (HELOC).

Private lenders first introduced the reverse mortgage concept in the 1950s, but it did not gain popularity until 1987 when Congress authorized the Department of Housing and Urban Development to administer a new reverse mortgage program called the Home Equity Conversion Mortgage (HECM) Insurance Demonstration.

In 2009, the Federal Housing Administration introduced a new product called the Home Equity Conversion Mortgage for Purchase, or HECM, that allows older Americans to buy a new home by putting a reverse mortgage on it.

Not exact matches

«The already challenged restaurant industry has been hit with slowing overall economic growth and the gap between the cost of dining at home compared to dining out,» Dine Equity CEO Julia Stewart said in a call with investors in November.

Closer to home, a pickup in the U.S. economy, combined with renewed calls for greater infrastructure investment, bodes well for companies like Pentair (pnr), a water - equipment maker, says Todd Ahlsten, manager of the $ 14.4 billion Parnassus Core Equity Fund.

Over the course of 2017, the amount of equity borrowers could take out of their homes, or so - called tappable home equity, rose by $ 735 billion, the largest annual increase by dollar value on record, according to Black Knight.

The major difference between the HELOC and the standard home equity loan is that with the former type of mortgage, you call the shots and determine how much of the loan to use at one time.

Some lenders call it a «Home Equity Loan» or «Home Equity Line of Credit» and since these types of loans are registered against the title of your home as a second charge - they are all second mortgaHome Equity Loan» or «Home Equity Line of Credit» and since these types of loans are registered against the title of your home as a second charge - they are all second mortgaHome Equity Line of Credit» and since these types of loans are registered against the title of your home as a second charge - they are all second mortgahome as a second charge - they are all second mortgages.

Call us at 1-800-587-2161 for more information about our home equity loans / mortgage loans or apply online today.

First is a home, this is what is called a second mortgage or home equity loan.

If the new year is calling for improvements around the house, our Home Equity Line of Credit can help make them happen.

Home equity loans and home equity lines of credit are called second mortgages because they are in second position when it comes to repayment in the case of a foreclosHome equity loans and home equity lines of credit are called second mortgages because they are in second position when it comes to repayment in the case of a forecloshome equity lines of credit are called second mortgages because they are in second position when it comes to repayment in the case of a foreclosure.

Certain types of refinancing deals, often called «Cash - Out Mortgage Refinancing,» allow you to pull cash out of the equity in your home, but you need to be careful with such deals.

The goal was to have it paid off quickly and then invest the equity through the HELOC to hopefully one day have enough money to purchase the so called forever home.