Submitted by Michael Kitces on Thu, 10/10/2013 - 3:00pm
Would-be homeowners long turned to the Federal Housing Administration for affordable mortgages. That’s also true for older folks and reverse mortgages, which they use to supplement their income by tapping the equity value of their homes. But the agency is tightening the terms on these loans.
Expanded loan volume paired with what some suggest is a decrease in loan quality have led to increased defaults and depleted FHA reserve funds.
Submitted by Kimberly J. Howard on Thu, 10/03/2013 - 12:00pm
Buying a home is life’s biggest financial investment for most people. Because of the size of the commitment, most buyers need a home loan and must choose a mortgage with unusual care. Here’s what to look for.
Since the depths of the Great Depression, the Federal Housing Administration has helped cash-strapped Americans buy homes. This government agency recently toughened some rules, and here’s what you must know now before applying for an FHA mortgage.
Submitted by Walid L Petiri on Wed, 09/25/2013 - 9:00am
Mortgage rates are up now and are driving higher in the future for two reasons, both emanating from Washington, including one that many are overlooking.
The first reason is well known: The Federal Reserve is planning to withdraw its bond-buying program. The second reason, whose impact is down the road, is the likely revamping or outright extinction of Fannie Mae and Freddie Mac, the two government-supported mortgage giants.
Submitted by Hilary Martin on Wed, 09/11/2013 - 3:00pm
Wondering if it’s better to buy or rent? You’re not alone. We have long been conditioned to view homeownership as an uncontested good, but the housing market took a serious hit during the Great Recession. Now that home values are recovering, will the American Dream of homeownership regain its luster?
Submitted by Brenda P. Wenning on Thu, 07/18/2013 - 12:00pm
Federal Reserve Chairman Ben Bernanke capitulated on his plans to taper off its stimulus program in mid-July, causing the bond market to rally and the stock market to hit new highs. But economic data are still disappointing and higher interest rates are affecting consumers. As we remain uncertain about when the taper comes, expect more volatility.
Submitted by Lewis J. Walker on Mon, 06/24/2013 - 3:00pm
What does the future hold? This subject animates financial planning. No one knows, of course, but some thinkers believe the world will get better and better. If this optimistic outlook comes true, we have much to look forward to.
At a recent gathering of financial planners in Palm Springs, Calif., the talk was titled “Imagining the World of 2020.” Recognizing that 2020 is not far off, fanciful prescience is not required to theorize future scenarios. One may merely examine current trends and extrapolate.
Submitted by Ruben Ruiz on Fri, 06/21/2013 - 12:00pm
The aftermath of the financial crisis underscores the importance of mandatory personal finance education. While financial literacy is not a panacea, we need to teach people how to save and make wise decisions with money.