Not exact matches
At the same time, it is not out of the question that we may be quietly allowing U.S. banks to go insolvent without disclosure, covering the losses
over time out of wide interest spreads
on existing loans, and that we may be able to avoid outward evidence of
mortgage deterioration simply by allowing the Treasury to go further and further into deficit
on behalf of the GSEs.
b) The sum of the
existing first lien, any purchase money second
mortgage and / or any junior liens
over 12 months old, closing costs, prepaid expenses, accrued late charges, escrow shortages, borrower paid repairs required by the appraisal, discount points, prepaid penalties charged
on a conventional loan and FHA Title 1 loans as determined by the appropriate HOC subtract any refund of refund of upfront MIP.
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.
We can review your current credit score, the terms of your
existing mortgage, and review options for other loan programs that could not only reduce your monthly payment, but also save you money
on interest fees paid
over the life of the loan.
FHA has long been viewed as a safe source for reverse
mortgage loans, which allow homeowners of age 62 and
over to pay off their
existing mortgages and / or draw
on home equity for cash income.
For example; if the interest rate
on your
mortgage spiked to 8 %
over the next few years you could re-direct cash away from purchasing investments into paying down your
mortgage, thereby securing an 8 % return
on that money (all the while your
existing investments will continue to grow in the background).
Refinancing a 30 - year
mortgage with 25 years left until it is paid off into a new 30 - year
mortgage means that you might end up paying more total interest
over the life of the new
mortgage, even though the interest rate
on the new
mortgage is lower than the rate you would pay
over the remaining 25 years of the
existing mortgage.
Apex can review your current credit score, evaluate the terms of your
existing mortgage, and provide options for other loan programs that could not only reduce your monthly payment, but also save you money
on interest fees paid
over the life of the loan.
When market conditions are healthy — like they generally have been
over the past 30 months — they can relatively quickly raise debt through the issuance of notes, which they can use to pay off
mortgages on their
existing properties, providing them with added financial flexibility to sell or refinance.