http://www.arizonamortgageteam.com Arizona. Mortgage. Experts. Fri, 21 Nov 2008 19:03:52 +0000 http://backend.userland.com/rss092 en Question: Is it possible to buy a home using a FHA Reverse Mortgage? Answer: Yes, starting January 1, 2009 In response to the new FHA HECM Reverse Mortgage For Purchase program, HUD has compiled a list of 25 frequently asked questions.  Here are our favorite 14 questions and answers from the 25 ... http://www.arizonamortgageteam.com/buying-in-arizona-using-fha-hecm-reverse-mortgage/ Scottsdale Arizona Mortgage Rates for November 21, 2008 Quick Mortgage News Update Freddie Mac & Fannie Mae temporarily halted foreclosure sales and evictions. Fannie Mae, issued Lender Letter 04-08 announcing that they are “halting all foreclosure sales on occupied single-family properties that are scheduled to occur from November 26, 2008 through January ... http://www.arizonamortgageteam.com/scottsdale-arizona-mortgage-rates-november-21-2008/ A common question we are asked is "how old do you have to be in order to get an FHA-insured reverse mortgage?" The simple answer is... 62. But wait, there is more to the story. The are strict age requirements to the FHA/HECM (Home Equity Conversion Mortgage) program and the age requirements state ... http://www.arizonamortgageteam.com/fha-reverse-mortgages-how-old-do-you-have-to-be/ Imagine for a second the following scenario: You are age 70. You live alone. You are living on social security and a small pension. You have never used the Internet. You have lived in your home for 25 years. You have recently had some unexpected expenses arise and you find yourself not being able to make ... http://www.arizonamortgageteam.com/reverse-mortgage-your-lender-may-call-you-with-an-offer-you-cant-refuse/ The other night, I found myself in the twilight zone and was having flashbacks to the year 2005. I was at a neighbors house and he was having a "neighborhood get-together" with a handful of other families. We live in a newly built neighborhood and new people are moving in ... http://www.arizonamortgageteam.com/are-loan-modifications-real/ Arizona Mortgage Team on KTAR Radio [audio:http://www.arizonamortgageteam.com/ktar.mp3] This morning we were live on the radio with KTAR superstar Darrell Ankarlo talking about the 700 billion bailout and what it means to people who are having trouble making their mortgage payment. The discussion centered around "what should I do if I am having ... http://www.arizonamortgageteam.com/having-trouble-making-your-mortgage-payment-bailout-talk-live-on-ktar/ Today it was announced that HUD has adopted a new 3 page Good Faith Estimate as part of its RESPA reform package that will be standard among all lenders and go into effect in January of 2010. The new standard Good Faith Estimate is part of a RESPA Reform package that ... http://www.arizonamortgageteam.com/new-standard-good-faith-estimate-effective-january-2010/ Are you over the age of 62 and currently late on your mortgage payment? Here is something that I bet you didn't know -- according to a data provider that I use, there are currently 499 seniors in Arizona who are over the age of 62, have a loan-to-value ratio of ... http://www.arizonamortgageteam.com/arizona-fha-reverse-mortgages-bad-credit-doesnt-matter/ Many seniors are searching for more information about reverse mortgages and with the FHA-insured HECM Reverse Mortgage, FHA has done a nice job of putting some information out on their website about it. Here is an parahprased list of the top 10 things HUD wants seniors to know about the HECM ... http://www.arizonamortgageteam.com/reverse-mortgages-top-10-things-hud-wants-you-to-know/ Loans that are able to "conform" to the underwriting guidelines of Fannie Mae or Freddie Mac are called "conforming" or "conventional" loans. Conforming loans are probably the "most popular" option for people with decent credit, a job and a "normal" house because in order to get a conforming loan, you need ... http://www.arizonamortgageteam.com/2009-arizona-conforming-mortgage-loan-limits/