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Mortgages
 Websites presented in alphabetical order AARP: Reverse Mortgages 
 This site dedicated to providing information about reverse mortgages includes a reverse mortgage calculator, basic information about reverse mortgages, alternatives to reverse mortgages, the booklet "Home Made Money: A Consumers Guide to Reverse Mortgages," and more. From AARP. http://www.aarp.org/money/personal/reverse_mortgages/ Topics: Finance, Housing, Investing, Money Last updated Jul 29, 2009 About Fannie Mae
Overview of the private corporation that was originally established by the federal government in 1938 "to expand the flow of mortgage money by creating a secondary market." Provides a history of Fannie Mae and an overview of its efforts to increase "the availability and affordability of homeownership for low-, moderate-, and middle-income Americans." Further information about Fannie Mae can be found in the FAQ section of this official website. http://www.fanniemae.com/aboutfm/index.jhtml?p=About+Fannie+Mae Topics: Consumer Research & Advocacy, Housing, Investing, Money Last updated Jun 20, 2007 Board of Governors of the Federal Reserve System: Press Release [Truth in Lending]
This press release describes how "[t]he Federal Reserve Board on Monday [July 14, 2008] approved a final rule for home mortgage loans to better protect consumers and facilitate responsible lending. The rule prohibits unfair, abusive or deceptive home mortgage lending practices and restricts certain other mortgage practices. The final rule also establishes advertising standards and requires certain mortgage disclosures to be given to consumers earlier in the transaction." Includes links. http://www.federalreserve.gov/newsevents/press/bcreg/20080714a.htm Topics: Housing, Investing Last updated Jul 14, 2008 Developments
This blog "tracks headlines about the real estate market, offering analysis, tips and insight into the housing slowdown and subprime mortgage meltdown aimed at homeowners and potential buyers." Includes graphics, photos and slideshows, and links to related news stories. From the Wall Street Journal. http://blogs.wsj.com/developments/ Topics: Housing, Investing Last updated Dec 20, 2007 Don't Be a Victim of Loan Fraud
"Every year, misinformed homebuyers, often first-time purchasers or seniors, become victims of predatory lending or loan fraud." This consumer information resource from the U.S. Department of Housing and Urban Development (HUD) provides a definition of predatory lending, tactics used by predatory lenders, and tips on buying and financing a home. Includes a link to a list of HUD's housing counseling agencies. http://www.hud.gov/offices/hsg/sfh/buying/loanfraud.cfm Topics: Business, Consumer Research & Advocacy, Corruption & Fraud, Housing, Investing, Money Last updated Oct 14, 2003 Financial Education and Tools
Contains information and interactive planning tools on savings, budgeting, home and car purchasing, investing, loans, education, retirement, and estates. From Bank of America. http://www.bankofamerica.com/financialtools/ Topics: Automobiles, Consumer Research & Advocacy, Finance, Housing, Investing, Jobs & Work, Money, Seniors Last updated May 29, 2005 Financial Turmoil Grips World Markets
Collection of print and audio stories about the fall 2008 financial crisis "that began with flagging home sales ... [and spread] to global markets." Topics include the U.S. government bailout plan, stock market fluctuations, financial regulation, investing, mortgage problems, and unemployment. From National Public Radio (NPR). http://www.npr.org/templates/story/story.php?storyId=94624938 Topics: Finance, Investing Last updated Nov 3, 2008 Foreclosure Resources for Consumers
"If you are having difficulty making your mortgage payment, one of the most important things you can do is seek assistance. ... [These] resources provide information and links to agencies and organizations that may be able to help you." Includes links to government resources from the Department of Housing and Urban Development (HUD), Federal Housing Administration (FHA), Federal Trade Commission (FTC), Internal Revenue Service (IRS), and others. From the Federal Reserve Board (FRB). http://www.federalreserve.gov/pubs/foreclosure/ Topics: Housing, Investing Last updated Jan 2, 2008 ForeclosurePulse
Blog with information about home loan mortgage foreclosures in the U.S. Topics include quarterly reports on mortgage foreclosure activity, bankruptcy filings, home arson, bank repossessions, and government actions. Includes material back to March 2006. From RealtyTrac. http://www.foreclosurepulse.com/ Topics: Housing, Investing Last updated Dec 22, 2008 Ginnie Mae
A Housing and Urban Development (HUD) agency whose mission is "to expand affordable housing in American by linking domestic and global capital markets to the nation's housing markets." The site offers information for would-be homeowners, mortgage issuers, and investors. Includes an "affordability calculator" and a renting vs. buying comparison chart, as well as links to related government, educational, and financial sites. Searchable. http://www.ginniemae.gov/ Topics: Housing, Investing Last updated Nov 7, 2004 Global Credit Squeeze
This collection of news and analysis focuses on "defaults on US subprime mortgages [in 2007, which] have developed into a global issue. Hedge funds and banks have been exposed to the US problems, which has led to a global credit squeeze." The "credit squeeze explained" interactive feature is a good starting point for understanding the issues. From the Financial Times. http://www.ft.com/indepth/subprime Topics: Housing, Investing Last updated Dec 10, 2007 Interest.com
This site "provides the tools and review information that can assist consumers to make the best financial decisions. ... Features ... [include] financial calculators, mortgage charts, consumer articles and [free] e-mail newsletters." Covers mortgages, auto loans, credit card debt and management, home equity loans, bad credit and how to repair it, and investing basics. "Interest.com is an independent information service and is not affiliated with any lending institution." http://www.interest.com/ Topics: Consumer Research & Advocacy, Housing, Investing, Money Last updated Oct 10, 2005 The Mortgage Market: What Happened?
This April 2007 article provides an overview of how, as "nationwide real-estate boom of recent years goes bust, economists and regulators are questioning the role that mortgage lenders played in helping to create an overheated housing environment." Includes discussions of risky loans and types of adjustable-rate mortgages (ARMs), growth in subprime lending (loans to borrowers with poor credit), and unethical practices. From National Public Radio (NPR). http://www.npr.org/templates/story/story.php?storyId=9855669 Topics: Housing, Investing Last updated Aug 13, 2007 Office of Federal Housing Enterprise Oversight (OFHEO)
"OFHEO's mission is to promote housing and a strong national housing finance system by ensuring the safety and soundness of Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation)." This site features analysis and documents, including news about the July 2008 efforts of the federal government to bolster the financial stability of these mortgage giants. Also includes an index of house price appreciation and related information for consumers. http://www.ofheo.gov Topics: Consumer Research & Advocacy, Housing, Investing, Money Last updated Jul 14, 2008 Questions and Answers about AIG
This brief Q&A centers on the 2008 crisis involving American International Group Inc. (AIG), "a global conglomerate that does business in 130 countries and jurisdictions. Its biggest business is insurance, including life, property and casualty, commercial, as well as retirement products." Explains reasons for the AIG crisis, including credit default swaps ("contracts that act like insurance by protecting investors against default in a range of assets"), mortgages, and investments. From the Wall Street Journal. http://blogs.wsj.com/wallstreetcrisis/2008/09/16/questions-and-answers-on-aig/ Topics: Investing Last updated Sep 22, 2008 Quicken Loans
This site "allows you to research home loans, learn about home financing, and apply and sign your application." Contains information and interactive tools on home refinance, purchasing, and equity loans. Searchable. https://www.quickenloans.com/ Topics: Consumer Research & Advocacy, Housing, Investing, Money Last updated Dec 12, 2008 Reverse Mortgage Calculator
"This calculator provides approximate estimates for two nationally available reverse mortgage programs." The two loan programs used for the estimates are the federally-insured Home Equity Conversion Mortgage (HECM), and the Home Keeper Mortgage from Fannie Mae. Calculations are based on the age of the homeowner, and the value and location of the home. Includes links to additional material about reverse mortgages. From AARP. http://www.rmaarp.com Topics: Finance, Housing, Investing, Money, Ready Reference & Quick Facts, Seniors Last updated Dec 14, 2005 Reverse Mortgages for Seniors
"Reverse mortgages are a special type of home loan that lets a homeowner convert the equity in his/her home into cash." Includes basic facts, information about the Home Equity Conversion Mortgage (HECM) program from the HUD, a list of HUD-approved HECM counselors in each state, and related information. Also includes information for HECM lenders. From the U.S. Department of Housing and Urban Development (HUD). http://www.hud.gov/offices/hsg/sfh/hecm/hecmhome.cfm Topics: Finance, Housing, Investing, Money, Seniors Last updated Dec 14, 2005 Reverse Mortgages: Get the Facts Before Cashing In On Your Home's Equity
A fact sheet about reverse mortgages. Explains eligibility, the three main types (single-purpose, federally-insured, and proprietary), what to watch out for during the loan process, and alternatives to reverse mortgages. From the U.S. Federal Trade Commission (FTC). http://www.ftc.gov/bcp/edu/pubs/consumer/homes/rea13.shtm Topics: Housing, Investing, Money, Seniors Last updated Oct 25, 2007 Reverse Mortgages: Is One Right For You?
"This [2001] booklet outlines some of the things you should think about before applying for a Reverse Mortgage." Explains how reverse mortgages work, outlines advantages and disadvantages, warns against scams, and discusses alternatives to drawing down the equity of a home to supplement income. Opens directly into a PDF file. From the California Department of Real Estate. http://www.dre.ca.gov/pdf_docs/reverse.pdf Topics: Finance, Housing, Investing, Money, Seniors Last updated Nov 21, 2007 The Subprime Crisis
Audio and transcript of a March 2007 report that sets out the issues relating to "subprime [mortgage] lending, delinquencies, foreclosures, bankruptcies, and the wake of devastation that the turmoil in the subprime market is leaving behind." Includes links to related sites. From MortgageMediaMag. http://www.mortgagemediamag.com/special/subprime.htm Topics: Housing, Investing Last updated Aug 6, 2007 The Subprime Mortgage Market
May 2007 remarks by Federal Reserve Bank Chairman Ben S. Bernanke on " Why have delinquencies and initiations of foreclosure proceedings risen so sharply? How have subprime mortgage markets adjusted? How have Federal Reserve and other policymakers responded, and what additional actions might be considered? [And] how might the problems in the market for subprime mortgages affect housing markets and the economy more broadly?" From the Federal Reserve Board. http://www.federalreserve.gov/Boarddocs/speeches/2007/20070517/default.htm Topics: Housing, Investing Last updated Aug 13, 2007 There's No Place Like Home: The Implications of Reverse Mortgages on Seniors in California
This report, issued in 1999, remains timely on the issue of reverse mortgages for seniors, particularly in the area of the cost of the mortgages relative to the income received and on the distinctions between government-issued and private loans. The report explains how reverse mortgages work, warns against scams, discusses alternatives, and strongly recommends financial counseling (required for some types of government-issued reverse mortgages). From Consumers Union. http://www.consumersunion.org/finance/revinfowc899.htm Topics: Finance, Housing, Investing, Money, Seniors Last updated Dec 14, 2005 Who Qualifies for Help, What Qualifies as Subprime?
Questions and answers related to the "'fast-track' [mortgage] interest-rate freeze" announced by the Bush administration in December 2007. Discusses the subset of borrowers covered by the agreement, how to find out if you have a subprime loan, who qualifies for a rate freeze, and related questions. Includes links to an article with more details about the mortgage plan. From Real Estate Journal, a Wall Street Journal website. http://www.realestatejournal.com/buysell/mortgages/20071210-simon.html Topics: Housing, Investing Last updated Dec 10, 2007 |
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