Mortgage News

Reverse Mortgages Post 2017 Changes

by Charlene Turner, NMLS # 456052 Since it is Reverse Mortgage Education week, let’s examine changes in the FHA Reverse Mortgage product in the past year. In October 2017, the Reverse Mortgage program introduced more sweeping changes to the Home Equity Conversion Mortgage (HECM), or informally, reverse mortgage. The changes were brought to a continually evolving program and reflect lessons learned as the program has matured. Why change what seemed like a successful program that helped so many? Homeowners over 62 were beginning to understand, accept, and take advantage of the ben...

April 25th, 2018 Reverse Mortgages Post 2017 Changes

Attention, first-time homebuyers: Don't fear mortgage insurance.

by Shikma Rubin, NMLS # 1114873 Let me dispel one of the biggest myths in home buying: Mortgage insurance is something you must avoid at all cost. That is incorrect, and here is why. Mortgage insurance makes it possible to purchase a home even if one can’t make the traditional 20 percent down payment. The insurance allows one to keep more of his or her cash and achieve homeownership. Now that you understand why mortgage insurance plays a key role, let’s break it down on a more technical level. Mortgage insurance protects the lender for losses suffered if the borrower defaults on...

April 2nd, 2018 | mortgages, Attention, first-time homebuyers: Don't fear mortgage insurance.

Tidewater Home Funding

Tidewater Home Funding, LLC NMLS# 41552
(www.nmlsconsumeraccess.org).
Equal Housing Lender.

Licensed in Virginia, North Carolina & Florida.

VSCC Bureau of Financial Institutions, P.O. Box 640, Richmond VA 23218-0640, (1-800-552-7945) www.scc.virginia.gov/bfi

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