NewRetirement Retirement News Digest : Mortgages
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NewRetirement Retirement News Digest

Browse the news below to learn about important developments shaping retirement.

Mortgages (RSS)

Reasons to Refinance Your Reverse Mortgage
San Francisco Examiner, October 21st, 2009 A government-issued reverse mortgage, or Home Equity Conversion Mortgage (HECM), is a great way to provide a more solid financial future for yourself. Sometimes, though, even better deals can be made possible Read More
Five ways to make your nest egg last a lifetime
Marketwatch, September 17th, 2009Back in the good old days, before the crisis of 2008-09, many experts suggested that all you needed to do was withdraw 4% per year, adjusted for inflation, from your nest egg. That strategy, experts said, was a near Read More
Loans That Looked Easy Pose Threats to Recovery
The New York Times, August 26th, 2009When Harvey Clavon took out an exotic mortgage to refinance his home in Santa Clarita, Calif., three years ago, he thought he knew what he was doing.Mr. Clavon, 63, was planning to sell the home in a few years and Read More
Should You Carry a Mortgage into Retirement?
Center for Retirement Research at Boston College, July 21st, 2009 Although it remains the goal of many households to repay their mortgage by retirement, an increasing proportion now enters retirement with a mortgage.  At the same time, households Read More
Subprime Brokers Back as Dubious Loan Fixers
The New York Times, July 19th, 2009From the ninth floor of a downtown office building on Wilshire Boulevard, Jack Soussana delivered staggering numbers of mortgages to homeowners during the real estate boom, amassing a fortune.By Mr. Soussana’s own account, Read More
Mortgage crisis robbing seniors of golden years
USA Today, June 5th, 2009Howard Weiss is 77 and scared. This year, the semiretired distributor from Phoenix ran into financial problems and stopped making his mortgage payments. He was told his home was scheduled for a foreclosure auction in May.So Read More
Senate Refuses to Let Judges Fix Mortgages in Bankruptcy
The New York Times - April 30, 2009 The Senate handed a victory to the banking industry on Thursday, defeating a Democratic proposal that would have given homeowners in financial trouble greater flexibility to renegotiate the terms of their mortgages. Read More
Older Borrowers, Out in the Cold
The Wall Street Journal - April 14, 2009 YUBA CITY, Calif. -- In 2006, Carol Couts, a 66-year-old widow in Yuba City, Calif., was living in her home, payment-free, when a mortgage broker persuaded her to refinance her no-cost mortgage for one that exceeded Read More
Generation Mortgage Closes Its First HECM For Home Purchase
PR Newswire - March 24, 2009 California Couple Leverages Government Stimulus Program to Purchase a New Home ATLANTA, March 24 /PRNewswire/ -- Generation Mortgage Company(TM) closed its first Home Equity Conversion Mortgage (HECM) to aid seniors in Read More
Top 3 Emerging Mortgage Scams To Watch Out For
The Consumerist - March 19, 2009 In its recent annual report to the Mortgage Banker's Association, the Mortgage Asset Research Institute described three emerging mortgage fraud schemes that are either new or increasing in popularity. Foreclosure Read More
Baby Boomers ‘Under Water’
The New York Times - March 13, 2009 A recent report suggests that the housing-market slump is hitting baby boomers particularly hard: many middle-aged homeowners had been so seduced by the rising prices of years past that they failed to save for retirement Read More
FHA implements temporary higher loan limits to help families keep their homes
HUD - February 25, 2009 More American families will be eligible this year to purchase or refinance their homes using affordable, FHA-insured mortgages, thanks to the economic stimulus package signed into law by President Obama last week. The American Read More
Housing secretary defends Obama foreclosure plan
CNN - February 22, 2009 The Obama administration's efforts to help struggling homeowners will aid "responsible" borrowers, not deadbeats or speculators, Housing Secretary Shaun Donovan said Sunday. President Barack Obama announced the plan Wednesday, Read More
Obama gambles $275bn on housing
The Sunday Business Post - February 22, 2009 Just one day after signing a $787 billion economic stimulus package into law last week, President Barack Obama turned his attention directly to the housing crisis - and committed another $275 billion of taxpayers’ Read More
Rick Santelli's Shout Heard 'Round the World
CNBC - Feb 20, 2009 CNBC's Rick Santelli called for a "Chicago Tea Party" Thursday, leading the charge for calls to revolt against the Obama Administration's mortgage bailout plan (see video below). The clip has gone viral on the Internet, bringing Read More
 
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