article thumbnail

Exploring Alternatives to Bankruptcy: Financial Options for Homeowners

Realty Biz

If you’re struggling financially and unable to pay your bills, you may have considered filing for bankruptcy. Filing for bankruptcy gives you a fresh start, but it stays on your credit report for up to 10 years — resulting in consequences for years to come. However, there are risks to using home equity for debt repayment.

article thumbnail

FAR parent updates investors on AAG integration, business performance

Housing Wire

The company also provides commentary for its fourth quarter 2023 financial performance, assesses its market advantages and offers an assessment of impacts stemming from changes in Ginnie Mae ’s Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program. million in fourth-quarter 2023.

Investor 370
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Ginnie Mae fires back over RMF lending suit, seeks case dismissal

Housing Wire

In the initial October complaint, TCB alleged that the government-owned company “extinguished, in return for no consideration, TCB’s first priority lien on tens of millions of dollars in collateral” stemming from the Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgage (HECM) program.

Lending 370
article thumbnail

The 2022 housing market: A tale of two halves

Housing Wire

The Big Chill” or “Frozen,” says Green, principal at real estate law firm Polunsky Beitel Green. They are not selling and have a lot of equity in their homes. Homeowners in 2022 also tapped into their home equity, which peaked at $11.5 over asking price. High octane stuff. But the housing market in the second half of 2022?

Equity 493
article thumbnail

Reverse mortgage volume and securities issuance trend lower in December

Housing Wire

When assessing December’s Home Equity Conversion Mortgage (HECM) volume data for December 2023, Reverse Market Insight (RMI) used a choice word as the title for its commentary : “thud.” million of [unpaid principal balance (UPB)] that may not otherwise have been issued in December.” This is a different situation.” This represents $15.6

Mortgages 391
article thumbnail

Compare Your Home Equity Borrowing Options

Realty Biz

Your home equity is the difference between what you owe on your mortgage(s) and what your home is currently worth if you sold it today (the appraised value). For instance, if the remaining balance on your mortgage is $195,000 and the market value is $295,000, you have $100,000 of equity in your home. Your equity increases in two ways.

Equity 91
article thumbnail

Non-QM lenders are racing to stay ahead of rates

Housing Wire

FGMC) filed for Chapter 11 bankruptcy protection at the end of June — leaving four warehouse lenders on the hook for more than $415 million. Some of these regional warehouse lenders may ultimately do a full turbo feature where they collect all interest and principal, and the originator gets nothing. Lind of Acra Lending.

Lending 357