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Home Equity Conversion Mortgage (HECM)

Home Equity Conversion Mortgage (HECM)

In recent economic times, exotic home loan products have become increasingly more common.  As there are shifts in the economy, certain home loan products start to become more popular.  One of these products in particular caters to a certain niche in the market and has been found throughout the state of Florida.  This would be because of who qualifies for this type of home loan.  This home loan product is called a Home Equity Conversion Mortgage. Read the rest of this entry

Foundations of the Mortgage Industry

Foundations of the Mortgage Industry

Understanding the foundations of the mortgage industry can be very helpful when venturing into for the first time.  Even if you have some experience with getting financed for a home, knowing and understanding these foundations can give you an upper hand when shopping for the best deal.  Let’s get started.  The fact is that 93% of homes in America are financed through either the private sector or government sector.  The breakdowns of these sectors are below. Read the rest of this entry