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New Loan Safeguards Leave Path for Higher-Risk Borrowers
http://www.bloomberg.com/news/2014-01-22/new-loan-safeguards-leave-path-for-higher-risk-borrowers.html
Now, as regulators tighten mortgage rules and big banks resist lending to riskier middle-income Americans, HFAs across the U.S. are rapidly expanding to restore the fading dream of homeownership. The state agencies got a boost from the Consumer

Presidential fraud
http://www.sddt.com/news/article.cfm?SourceCode=20140123tde&_t=Presidential+fraud
But it was saved in a $1 deal that gave ownership to the Central California Music Association, which made plans to ship the structure about 40 miles northeast to Prather. The move on Wednesday is a big step in A government statement said the

Should you consider a hybrid loan?
http://www.charlotteobserver.com/2014/01/17/4617113/should-you-consider-a-hybrid.html
Jeff Lipes, a lender in the Hartford, Conn., area and former president of the Connecticut Mortgage Bankers Association, believes that hybrids with fixed rates for between five and 10 years “are fantastic options for borrowers” in 2014, and can lock in

A hybrid in your housing future?
http://seattletimes.com/html/businesstechnology/2022564067_bizharney05xml.html
A hybrid in your housing future? Jeff Lipes, a lender in the Hartford, Conn., area and former president of the Connecticut Mortgage Bankers Association, believes hybrids with fixed rates for between five and 10 years “are fantastic options for borrowers” in 2014, and can lock in rates

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CFPB Issues Warning on Using Reverse Mortgages to Delay Social Security

“As nearly five million homeowners will turn age 62 by 2020, the Consumer Financial Protection Bureau (CFPB) is concerned that the broad promotion of this strategy could result in an increased number of homeowners borrowing a reverse mortgage for this purpose,” the report states.

The report details the strategy in which a reverse mortgage is used to delay Social Security and shows home equity levels and costs over time under hypothetical scenarios. The Bureau finds this strategy can jeopardize retirement security by tapping into home equity prematurely and potentially reducing options for homeowners such as purchasing a smaller home later in time. The report also notes the reduced potential for borrowers to handle financial shock under the Social Security delay strategy.

“A reverse mortgage loan can help some older homeowners meet financial needs, but can also jeopardize their retirement if not used carefully,” said CFPB Director Richard Cordray in a press release. “For consumers whose main asset is their home, taking out a reverse mortgage to delay Social Security claiming may risk their financial security because the cost of the loan will likely be more than the benefit they gain.

Shutdown — There you go again

After the 2013 shutdown, most people assumed the Congress would never go there again. Why would they? By some estimates, the last shutdown wasted $24 billion. Just to put that in perspective, the median family income in the U.S. is about $55,000. The amount the last shutdown wasted was roughly equal to the total household income for 436,000 families. Even more shocking is that it wasted the income taxes paid by about 4 million households.

A shutdown directly affects almost the entire federal workforce. Even employees who are in an excepted position cannot be paid during a shutdown. There are three categories of employees for shutdown purposes — exempt excepted  and  furloughed .

Exempt  employees are paid by appropriations that do not have to be passed by Congress every year or by fees or working capital funds. They work during a lapse of appropriations because their money is still there. They also continue to get paid for the same reason. There is a possibility that the money would run out. For example, if an agency relies on fees paid by other agencies from appropriated dollars, the money can dry up quickly during a shutdown. In that case, the employees would shift to the other two categories.