Wednesday Aug 26, 2009
Seniors are most susceptible to companies claiming to offer reverse mortgages and turning out to be scams.
Thursday Aug 20, 2009
Home prices may begin to recover, but the outlook on home equity is not so good.
Thursday May 28, 2009
According to the Mortgage Bankers Association, a record percentage of U.S. mortgages entered foreclosure in the first quarter. Their survey forecasts continued rising unemployment into 2010, and therefore also consistently poor mortage performance until that time.
Tuesday May 12, 2009
Despite critics' claims, former Federal Reserve Chairman Alan Greenspan insists that the Fed didn't feed the housing bubble and that it began before the Fed started cutting housing interest rates in 2001.
Thursday Apr 30, 2009
Lew Sichelman answers two readers' question about the Home Equity Conversion Mortgage.
Thursday Jan 29, 2009
Lew Sichelman answers reader questions about refinancing, home equity and tax liens.
Thursday Jan 22, 2009
Reverse mortgages have risen in popularity with seniors looking to tap their home equity and to avoid foreclosure. Home owners 62 and older can convert home equity to cash without losing their home.
Wednesday Sep 17, 2008
Home equity is an equally important asset to retirement, the same as your IRA, 401k and Social Security. The economic downturn has caused an unprecedented decline in home prices, which may cause problems for some retirees.
Tuesday Sep 2, 2008
REX agreements are a new phenom for people to tap into their home equity without adding to their debt, paying interest or additional monthly payments. While it's an easy sell, the risk is high - here the REX agreement is broken down in clear language.
Thursday Aug 7, 2008
Morgan Stanley is reducing home equity loans for a lot of clients, reflecting the dropping value of many homes. Other lenders are following suit as home prices continue to fall. Read more about it here.
| Type | Today | Week Ago |
|---|---|---|
| 15 Year Fixed | 4.62%  |
4.67% |
| 30 Year Fixed | 5.15% | 5.15% |
| 1 Year ARM | 3.48% |
3.51% |
| 5/1 Year ARM | 3.62% |
3.68% |
| Type | Today | Week Ago |
|---|---|---|
| Line of Credit | 4.89%  |
4.88% |
| 10 Year Loan | 7.47% | 7.47% |
| 15 Year Loan | 7.61% |
7.60% |
| Type | Today | Week Ago |
|---|---|---|
| Interest Checking | 0.28% | 0.28% |
| Money Market/Savings | 0.38% | 0.38% |
| 12 Month CD | 1.13%  |
1.15% |
| 60 Month IRA CD | 2.40% |
2.41% |
| Type | Today | Week Ago |
|---|---|---|
| Cash Back Cards | 12.66% |
12.68% |
| No Annual Fee Cards | 12.08% |
11.97% |
| Reward Cards | 12.75% |
12.61% |
| Small Business Cards | 11.01% |
10.94% |
| Student Cards | 13.77% |
13.49% |
| Platinum Cards | 12.26% |
12.11% |
Mr. Ferguson's advice is right on the money. Alas, real life inconveniently intrudes. After they use home equity to consolidate debts, many folks continue to base their spending habits on the one word shouted by Colonel Theodore Roosevelt when he urged the Rough Riders to ascend San Juan Hill in the course of what proved to be the climatic battle of the Spanish-American War.