Equity Loans

The reverse mortgage got a shot in the arm with the new housing bill becoming law. One of those changes is the increased loan amounts for the FHA reverse mortgage program.
Reverse Mortgage Changes
The FHA reverse mortgage has increase the maximum amounts by $250,000 to $625,000 nationwide. The media reports are all glowing calling [...]

Well, the Mortgage Insider, got cited in today’s edition of the Washington Post where I discussed the financially irresponsible practice of paying off credit card debt with home equity loans.
The reporter, Dan Rafter, who interviewed me for his story,
“For Every Loan, a Proper Use: There’s More Than One Way to Tap Home Equity” did [...]

You can get a home equity mortgage loan from almost any banking or mortgage institution. A broker, your local bank, big nationwide banks, credit unions, or investment firms like Etrade and others all sell home equity mortgages.
But which is the best one to use for a home equity mortgage loan?
This is [...]

There are dangerous differences between a HELOC mortgage and a traditional home equity loan. Ignorance of HELOC mortgage differences in home equity loans can cause real trouble.
So, let’s get started unraveling those dangers….
A HELOC mortgage is a line of credit securitized by the equity in your house and sits usually in second lien [...]