Nearly a third of American households were labeled cost-burdened last year because they are spending more than 30 percent of their total household income for housing.  The report done by the Joint Center for Housing Studies of Harvard University looked at both homeowners and renters.

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Reverse mortgage loans are like traditional mortgages that permits homeowners to borrow money using their home as collateral while retaining title to the property.  Reverse mortgage loans don't require monthly payments.

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A mortgage lock-in is a lender's agreement to hold a specific interest rate for a stated period for a loan at the prevailing market interest rate.  This provides the borrower some protection against the interest rates going up during the lock period.

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Imagine having an emergency in your home and needing to find something that will solve the problem.  You need to be able to put your hands on it quickly. 

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Approximately 52 million or 16% of Americans are age 65 and over.  It is easy to understand that some of them are thinking of downsizing their home because they don't need the same space they did in the past.

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Deciding between a fixed-rate mortgage and an adjustable-rate is one of the choices buyers make when getting a loan to purchase a home.  While the rate remains constant for the term of the mortgage on a fixed-rate loan, it does not mean that the payment will remain the same.

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