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July 20, 2010
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Did You Know?    
 
 
A Reverse mortgage is also known as HECM
Section 255: Home Equity Conversion Mortgages (Reverse Mortgages, a.k.a. HECM) allows a borrower aged 62 and older to borrow against the equity in a property that has limited outstanding debt. A subject property under this program must be an existing one-to four-unit dwelling in which the mortgagor occupies one of the units. It may be a condo if in a FHA approved project. Manufactured homes are eligible if the home complies with outstanding FHA guidance.

 


  Newsroom  
 


News about real estate cases in Birmingham and nationwide:

New CFA Analysis of Real Estate Cartel Explains How It Can Set Prices
New CFA Analysis of Real Estate Cartel Explains How It Can Set Prices  WASHINGTON - June 19 - This morning, the Con...
Read more >


No Speculative Bubble In Housing Prices,
No Speculative Bubble In Housing Prices, CU-Boulder Business Professor Says

While rising interest rates and increased inve...

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Martinez Announces 'Homebuyer Bill Of Rights' - Part Of Bush
WASHINGTON - Individuals and families who want to buy or refinance a home will find the process significantly easier under a proposal announced tod...
Read more >


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Real Estate Terms

 


Today's Terms

Discount point

Definition:
Normally paid at closing and generally calculated to be equivalent to 1% of the total loan amount, discount points are paid to reduce the interest rate on a loan.

Mortgage insurance

Definition:
A policy that protects lenders against some or most of the losses that can occur when a borrower defaults on a mortgage loan; mortgage insurance is required primarily for borrowers with a down payment of less than 20% of the home's purchase price.

Alternate Dispute Resolution (ADR)

Definition:
A range of different forums and processes which can be utilized to resolve a dispute. We focus on two forms of ADR in this guide which might be used to negotiate a settlement: administrative settlements and mediation.

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Real Estate Resources

 


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Real Estate Hot Topics

 
Topics Related to Real Estate Law:

  • Commercial Real Estate
  • Construction
  • Condemnation
  • Landlord / Tenant
  • Mortgage Matters

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Birmingham Real Estate Attorney

 
If you live in the following cities and need an real estate attorney you should contact our Real Estate Attorney as soon as possible:

  • Alliance
  • Beatrice
  • Bellevue
  • Blair
  • Columbus
  • Fremont
  • Gering
  • Grand Island
  • Hastings
  • Kearney
  • La Vista
  • Lexington
  • Lincoln
  • Norfolk
  • North Platte
  • Omaha
  • Papillion
  • Plattsmouth
  • Scottsbluff
  • South Sioux City
 


Legal Disclaimers
All attorney listings are a paid attorney advertisement, and do not in any way constitute a referral or endorsement by an approved or authorized lawyer referral service. The information provided on Birmingham Real Estate Attorney.com is not intended to be real estate advice, but merely conveys general information related to real estate issues commonly encountered.

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