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Mortgage Planning Mortgage Financing Fannie Mae's HomePath is a major resource of information about home ownership and financing options for home buyers and home owners. The Federal Housing Finance Board (FHFB) conducts a monthly survey of rates and terms on conventional mortgage loans. Stop Mortgage Fraud, sponsored by the Mortgage Bankers Association to help consumers identify, report and protect themselves from mortgage lending practices. Bankrate.com is a major and reliable source of information about consumer loan rates including mortgages and home equity loans. Mortgage Mag is aimed at mortgage professionals and is very cluttered with ads, but has a wealth of information and data relating to the mortgage market. Worth the effort to find what you are looking for. The Mortgage Professor's Web Site; Established by a former professor of finance at the Wharton School, this site offers a vast array of calculators and a wide range of information on home financing. Martindale's Calculators On-Line Center Finance: Mortgage Several mortgage calculators taken from an incredible collection of over 20, 800 calculators. Reverse Mortgages Whether seeking money to finance a home improvement, pay off a current mortgage, supplement their retirement income, or pay for healthcare expenses, many older Americans are turning to “reverse” mortgages. They allow older homeowners to convert part of the equity in their homes into cash without having to sell their homes or take on additional monthly bills. In a “regular” mortgage, you make monthly payments to the lender. But in a “reverse” mortgage, you receive money from the lender and generally don’t have to pay it back for as long as you live in your home. Instead, the loan must be repaid when you die, sell your home, or no longer live there as your principal residence. Reverse mortgages can help homeowners who are house-rich but cash-poor stay in their homes and still meet their financial obligations. Click here to access the Federal Trade Commission's Reverse Mortgage Information web site. AARP has a very informative and readable web site that explains the fundamentals of reverse mortgages. After learning all there is to know from the AARP site, go to the National Center for Home Equity Conversion web site for more details. The NCHEC is not affiliated with any lender organization and are "militantly independent" in the views they present. The National Reverse Mortgage Lenders Association has a web site explaining Reverse Mortgages and has a directory to their member lenders. Housing PMI Group is one of the largest private mortgage insurers in the U.S. and abroad. Quarterly the company publishes its Economic and Real Estate Trends , which includes commentary on the national economy and regional housing price trends as well as a ranking of the 50 most populated metropolitan areas with respect to potentially overpriced housing. Another important reference for house prices is the House Price Index from the Office of Federal Housing Enterprise Oversight (OFHEO). When you sell your home, you may be subject to capital gains on the profit realized. Go here to view Publication 523 from the IRS.
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