Unlocking Home Equity for a Better Retirement John, a 70-year-old retiree, owns a home valued at $600,000 and has $300,000 in equity. He’s exploring how to use a reverse mortgage to leverage this equity and enhance his retirement years. Here’s a detailed look at how John can achieve his financial goals with a reverse mortgage.…

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As the mortgage market shifts, Maine Mortgage Solutions is here to keep you informed of any change that can help your borrowers qualify for financing. Fannie Mae and Freddie Mac added certain non-relatives to their list of eligible gift donors. Funds for conventional loans can come from: A domestic partner or their relative A former…

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From:   https://www.24-7pressrelease.com/press-release/508594   SCARBOROUGH, ME, February 19, 2024 /24-7PressRelease/ — Mark A. Violette has been inducted into Marquis Who’s Who. As in all Marquis Who’s Who biographical volumes, individuals profiled are selected on the basis of current reference value. Factors such as position, noteworthy accomplishments, visibility, and prominence in a field are all taken into account during…

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Reverse mortgage complaints to the Consumer Financial Protection Bureau (CFPB) were less than 1% of 32,000 mortgage–related complaints received in 2021. Of the complaints against various mortgage loans, 65% were against traditional mortgages. The remaining complaints were against other home types of loans like VA, home equity, and line of credit. Source: Consumer Financial Protection Bureau…

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The BASE RATES (before addons for LTV, DTI, and FICO) continue to creep downward based on last week’s Federal Reserve meeting comments that there will be NO MORE Fed Increases and they’re looking at three (3) 0.25% decreases in 2024.  This has helped generate positive energy with the Wall Street mortgage backed securities market and…

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On Wednesday (12/13/2023) Fed Chairman, Jerome Powell, provide an EARLY CHRISTMAS GIFT stating that they’ve hit the peak Fed Funds rate and would cut rates at least three times in 2024!  This is a HUGE Improvement from September’s forecast of one more rate hike in 2023 and only a single cut in 2024!

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The outlook remains good for rates getting better in December .. 10yr Treasure Yield continues to FALL Mortgage Bonds continue to IMPROVE Revised GDP (Gross Domestic Product) is stronger The Markets are now 100% confident that FED Rate Hikes are DONE … Question is how soon will FED Rate CUTS begin and the feeling is…

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Strong rally today. The Consumer Price Index (CPI) results came in this morning BELOW the consensus expectation.  This is a good sign for INFLATION SLOWING, therefore benefiting rates. We would need continued CPI results such as this one for the Fed to definitively declare an end to rate hikes. As of Today … Core inflation TICKED…

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Mortgage Bond prices have improved this morning after the market begins to move into bonds as a safe haven with the news of war between Israel and Hamas, which could lead to oil sanctions among other concerns. Additionally, the rise in treasury yields has led some Fed officials to suggest that more rate hikes this…

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