Reverse mortgages, which allow older adults to convert some of the equity in their homes into cash, have been a life line for many house-rich, cash-poor seniors struggling to get by. But now, with a growing number of reverse mortgages falling into default, these retirees could end up losing their homes.
07.3.11 | Investing, Law & Ethics, Other - Business & Finance, Other - Taxes |
According to a recent RBC Home Ownership survey, 65 per cent of Canadian homeowners are worried about mortgage rate increases and 56 per cent admit that their mortgage is higher than they expected.
06.30.11 | Investing, Law & Ethics, Renting & Real Estate |
The nations banks are holding a much higher rate of defaulted mortgages on their books than mortgage giants Fannie Mae and Freddie Mac, according to a report released Wednesday by the Office of the Comptroller of the Currency.
06.29.11 | Credit, Investing, Law & Ethics, Renting & Real Estate |