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reverse mortgage
A reverse mortgage is a loan against the equity in the home that provides tax-free cash advances, but requires no payments during the term of the loan. Since there are no monthly payments during the life of the loan, the balance grows larger and the equity gets smaller.The loan is not due and payable until... : reverse mortgagePrivate mortgage insurance (PMI)
A type of insurance policy written by a private company protecting the mortgage lender against loss resulting from a mortgage default; typically used if the borrower's down payment is less than 20 percent of the home's purchase price.... : Private mortgage insurance (PMI)Mortgage Applications Down Last Week-MBA
NEW YORK (Reuters) - Applications for U.S. home mortgages decreased last week as rising interest rates led to a sizable decrease in refinancing activity and purchasing, an industry group said on Wednesday. "The increase in mortgage rates has reduced application activity across the board, particularly for refinances. Refinance applications are down more than 60 percent relative to this time last year," Michael Fratantoni, MBA's senior director of single family... : Mortgage Applications Down Last Week-MBABlogs Send Stocks Into Reverse
NEW YORK (Reuters) - U.S. stocks reversed course suddenly on Tuesday and drifted lower as chatter on the Internet speculated that early exit polls had Sen. John Kerry leading the presidential election in key swing states. The Dow Jones industrial average was down 42 points, or 0.42 percent, at 10,012. The Standard & Poor's 500 Index was down 2 points, or 0.20 percent, at 1,128. And the t... : Blogs Send Stocks Into ReverseFor more information about reverse mortgage: homeowners insurance?
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