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February 27, 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 Omaha and nationwide: Washington Real Estate Investment Trust Acquires 6565 Arlington Blvd for $30 Million ROCKVILLE, Md.--(BUSINESS WIRE)--Aug. 11, 2006--Washington Real Estate Investment Trust (WRIT) (NYSE:WRE) has acquired 6565 Arlingto... Read more > California's Real Estate Regulations Of Broker Supervision Broker SupervisionA broker shall exercise reasonable supervision over the activities of his or her salespersons. Reasonable s... Read more > Two arrested on federal bribery charges in connection with ticket-fixing scheme at Adjudication Services Branch > Washington, D.C. - United States Attorney Roscoe C. Howard, Jr., Acting Assistant Direc... Read more > More Real Estate News >

Real Estate Terms

Today's Terms

Default

Definition:
The inability to pay monthly mortgage payments in a timely manner or to otherwise meet the mortgage terms.

Flood insurance

Definition:
Insurance that protects homeowners against losses from a flood; if a home is located in a flood plain, the lender will require flood insurance before approving a loan.

Federally Assisted Projects

Definition:
A federally assisted project is one which receives Federal reimbursement or payment of some project expenses such as planning, construction, right-of-way acquisition, and property management.

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Mortgage Matters

Omaha 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

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