Reverse Mortgages for Purchases

Generally thought of as a refinance only transaction, reverse mortgages are also available to qualified borrowers for a purchase transaction. This can be very handy for those who are age appropriate and want to downsize or relocate. No mortgage payments on a new house isn't a bad thing.

19% of B and C mortgage in delinquency

Not being an originator of subprime mortgages, I enjoy reading the news about the implosion of the subprime lenders. I just saw an article that Countrywide is saying that 19% of their B and C mortgages are in some sort of delinquency. That's almost 1 in 5 loans that aren't being paid back. That's gonna leave a mark.