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We help people everyday by answering their questions and concerns here in Massachusetts. Contact us today.
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About Reverse Mortgages
A reverse mortgage is a loan product where the lender pays the loan holder, not the other way around. The equity in the home is a factor when determining the reverse loan payment. When the Massachusetts real estate market conditions change you're always protected. Even if the equity position in the home drops below the current amount of money you have received. The homeowner also keeps the title and the right to the home.
Consumer Safeguards
Massachusetts and the federal government are dedicated to protecting their seniors. Mandated laws have been put into place to guarantee that reverse mortgage loans are safe and protect the interest of the homeowner. These laws make sure that the Massachusetts homeowner never loses their home and always retains the title. The most popular loan product is the federally safeguarded HECM product. Some loan products like those from Fannie Mae are still bound by strict best practice rules regulated by the state and federal government.
-- Mortgage Rates by Bankrate.com --
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ByOwner Homes, For Sale By Owner
Current Mortgage Rates
Loan TypeRate+/-Last
30 yr fixed5.74%5.72%
15 yr fixed5.33%5.29%
5 / 1 ARM5.19%5.31%
30 yr fixed jumbo6.95%7.04%
5 / 1 jumbo ARM6.17%6.19%
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Mon, 24 Mar 2008

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Wall Street Girds For Regulation In The Wake Of CrisesCNNMoney.com - 22 hours agoThe Massachusetts Democrat is now shepherding a bill requiring banks to lower the interest and principal on some home mortgages in exchange for $300 billion ...
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