2 New Reverse Mortgage Rules For Couples

New reverse-mortgage rules kicking in Aug. 4 should provide peace of mind to married couples considering taking out these loans. Reverse mortgages (home loans for people 62 and older that let them convert home equity into cash) can be a useful way for homeowners to receive extra income in retirement; the loan must be repaid…

Home selling

Ryan Carson and wife Jenny work in the kitchen of their four-bedroom Seattle home. Daughter Clara will soon have two siblings and a nanny is moving in so they could use more space, but with a 3.85 percent mortgage rate, they plan to stay put and remodel instead. (Ted S. Warren / AP)

Debt-to-income ratio can sink mortgage application

But a new survey by credit-score giant FICO offers buyers a rare peek inside the heads of credit-risk managers at financial institutions across the country and in Canada. Researchers asked a representative sample of them what single factor in an application makes them most hesitant to fund a loan request — in other words, whats…

Barrington mortgage pro helps Hispanic families

Eduardo Paras of Barrington has spent about 30 years in the mortgage industry, mostly helping Hispanic families obtain their first homes. As rewarding as that was, Paras was part of that wave of mortgage professionals who witnessed the tsunami of foreclosures and the anger that later was directed at his industry.

Suspect wanted for credit card fraud

By BPD photo Bakersfield Police are asking for the communitys help identifying and locating this woman wanted for possession of stolen property, fraudulent use of a credit card, burglary and identity theft. Police said she stole credit cards from a victims purse on June 22 at Panera Bread.