AAG launches jumbo reverse mortgage product

In this week’s Reverse Focus podcast, Shannon Hicks discusses the new jumbo reverse mortgage product launched last week by American. login or become a free member to access past and current.

Announces expansion of AAG Advantage lending program. Last year, American Advisors Group, an Orange, California-based reverse mortgage lender, unveiled a jumbo reverse mortgage program, called the AAG Advantage. With the aag advantage program, qualified borrowers are able obtain a reverse mortgage on properties valued up to $6 million,

Feds should do more to help underwater borrowers: Moody’s Nation added only 148,000 jobs in September Foreclosure mess scares off homebuyers: Campbell/Inside Mortgage Finance What’s more, buyers of distressed properties have become gun shy due to the foreclosure processing problems, according to a Campbell/Inside Mortgage Finance survey of real estate agents. The poll found 14 percent of owner-occupant homebuyers and 6 percent of investors refused to view foreclosed properties in October.

Borrowers cite high closing costs and rigid loan terms as key barriers to refinance In addition, many do not trust lenders or their communications A misperception – the need to pay more for refinance to address lost home value – is the top reason cited by high LTV borrowers for not refinancing

AAG Introduces Proprietary Jumbo Reverse Mortgage Loan. With AAG Advantage, qualified borrowers may now obtain a reverse mortgage on properties valued at up to $6 million, versus the FHA loan limit of $679,650 (updated January 1, 2018) associated with a traditional Home Equity Conversion Mortgage (HECM) loan.

Orange, California-based American Advisors Group, a reverse mortgage lender, just launched a jumbo reverse mortgage, called the AAG Advantage. Through the new product, qualified borrowers can. Use the aag advantage jumbo reverse mortgage , a proprietary loan that allows you to withdraw up to $4 million in equity on a higher-priced house.

Foreclosure shadow inventory will take more than 40 months to clear: Fitch According to CoreLogic, from 2006 to 2014 “there were 7.3 million housing.. December marked the 38th consecutive month in which there were. Many analysts differ on what impact shadow inventory will have on house values in 2013.. Others believe that the increases in buyer demand will more than offset the.Shadow Inventory of Homes to Take Nearly 3 Years to Clear: S&P After witnessing the fast rise in home prices this year. "shadow inventory" foreclosures that have yet to hit the marketplace. Though CoreLogic estimates the number of delinquent homes that banks.

Unveiling All-NEW 2018 Jumbo Reverse Mortgages to $4M. The entire Mortgage Insurance Fund, which affects all borrowers who rely on federally-insured loans, was at risk and HUD responded. One of the silver linings from the changes HUD made is the re-emergence of the Jumbo Reverse Mortgage Program.

Reverse Mortgage | American advisors group (aag) – Use the AAG Advantage jumbo reverse mortgage, a proprietary loan that allows you to withdraw up to $4 million in equity on a higher-priced house. With this fixed-rate loan, you can turn more of your equity into cash.

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AAG offers a jumbo reverse mortgage product in AZ, CA, CT, CO, D.C., FL, GA, HI, ID, IL, LA, MI, NJ, NV, OH, OR, PA, RI, SC, TX, UT and VA. Advantage Flex and Select are not available in all states. AAG is an equal housing lender. These materials are not from HUD or FHA and were not approved by.

More than 1 million HAMP mods canceled In total, two million homeowners have been rejected from HAMP as of December: 1.3 million were denied even a trial modification and about 700,000 more had their trials cancelled.

“Consumer response to the jumbo product has exceeded all of our expectations,” said an AAG spokesperson. “There seems to be a real market for reverse mortgages with affluent seniors, especially those.

The product can be used for a home purchase or a cash-out refinance. AAG launches VA loan offering. including government-insured Home Equity Conversion Mortgages, proprietary jumbo reverse.