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Home Mortgage in US
As at 31 December 2009, the total outstanding home mortgage stood at $11.716 trillion, a decrease of $194 billion or 1.63% compares to $11.910 trillion in the same period in year 2008.
As at 31 December 2010, the total outstanding home mortgage stood at $11.363 trillion, a decrease of $353 billion or 3.01% compares to $11.716 trillion in the same period in year 2009.
As at 31 March 2011, the total outstanding home mortgage reduced by $74 billion or 0.65% to $11.289 trillion compares to previous quarter as at 31 December 2011.
As at 30 June 2011, the the total outstanding home mortgage continued to reduce by $54 billion or 0.48% to $11.235 trillion compares to previous quarter as at 31 March 2011.
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A reverse mortgage can give you the financial freedom and extra cash flow you’re looking for.
A Reverse Mortgage is simply a government-insured reverse mortgage commonly known as a home equity conversion mortgage (HECM). It’s a program designed specifically for homeowners over 62 to use as a form of financial relief. The program lets you access your home’s equity like cash without making payments. Here are some benefits:
Income and credit are not factors when we qualify you for a One Reverse Mortgage – only your age and the amount of equity you have determine how much income you can get.
With any reverse mortgage, you will never make a mortgage payment as long as you live in your home.
The One Reverse Mortgage is insured by the Federal Housing Administration (FHA), which has set a loan limit of up to $625,500 for your reverse mortgage.
There are a variety of reverse mortgage options including both the HECM Standard and HECM Saver available in adjustable and fixed rates. Your Reverse Mortgage Expert will walk you through every step, answer all of your questions and help customize your loan for you.
Whether you have a mortgage payment and you’d like to pay it off, or if your home is paid off and you’re looking for additional income, reverse mortgages are designed to give you that financial freedom you deserve. Whether you just want to enjoy everyday life, help support a loved one or pay off rising expenses, a reverse mortgage can give you immediate access to your money!
What’s the difference between the HECM Standard and the HECM Saver?
The HECM Standard is the typical FHA-insured reverse mortgage as we know it. It’s designed for those who need the most money available – allowing you to borrow the maximum amount; however the up-front costs are higher.
The HECM Saver is also an FHA-insured option, and this version carries no up-front mortgage insurance premiums (MIPs). As a result, you could save money, but the maximum amount of cash you can borrow is less than with a HECM Standard.
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The total $11.363 trillion outstanding home mortgage as at 31 December 2010 can be futher divided into:-
$10.524 trillion by 1-4 family residential loans, a decrease of $343 billion or 3.16% compares to $10.867 trillion in the same period in 2009.
$839.350 billion by multifamily residential loans, a decrease of $9.906 billion or 1.17% compares to $849.256 billion in the same period in 2009.
The total $11.289 trillion outstanding home mortgage as at 31 March 2010 can be futher divided into:-
$10.450 trillion by 1-4 family residential loans, a decrease of $74 billion or 0.70% compares to $10.524 trillion in previous quarter as at 31 December 2011.
$838.880 billion by multifamily residential loans, a decrease of $470 million or 0.06% compares to $839.350 billion in previous quarter as at 31 December 2011.
The total $11.235 trillion outstanding home mortgage as at 30 June 2010 can be futher divided into:-
$10.395 trillion by 1-4 family residential loans, a decrease of $55 billion or 0.53% compares to $10.450 trillion in previous quarter as at 31 December 2011.
$839.915 billion by multifamily residential loans, an increase of $1.035 billion or 0.12% compares to $838.880 billion in previous quarter as at 31 December 2011.
Definitions:-
1-4 family residential loans
Total loans secured by 1-4 family residential properties
Multifamily residential
Multifamily (5 or more) residential property loans
The total $11.363 trillion outstanding home mortgage as at 31 December 2010 can be futher divided into different debt holders:-
$2.947 trillion by major financial institutions, a decrease of $88 billion or 2.90% compares to $3.035 trillion in the same period in 2009.
$4.935 trillion by federal and related agencies, a significant increase of $4.346 trillion or 738.18% compares to $588.775 billion in the same period in 2009.
$2.511 trillion by mortgage pools or trusts, a decrease of $4.516 trillion or 64.27% compares to $7.027 trillion in the same period in 2009.
$909.613 billion by individuals and others, a decrease of $57.995 billion or 5.99% compares to $967.608 billion in the same period in 2009.
The total $11.289 trillion outstanding home mortgage as at 31 March 2010 can be futher divided into different debt holders:-
$2.857 trillion by major financial institutions, a decrease of $90 billion or 3.05% compares to $2.947 trillion in previous quarter as at 31 December 2011.
$4.971 trillion by federal and related agencies, an increase of $36 billion or 0.73% compares to $4.935 trillion in previous quarter as at 31 December 2011.
$2.504 trillion by mortgage pools or trusts, a decrease of $7 billion or 0.28% compares to $2.511 trillion in previous quarter as at 31 December 2011.
$899.364 billion by individuals and others, a decrease of $10.249 billion or 1.13% compares to $909.613 billion in previous quarter as at 31 December 2011.
The total $11.235 trillion outstanding home mortgage as at 30 June 2010 can be futher divided into different debt holders:-
$2.838 trillion by major financial institutions, a decrease of $19 billion or 0.67% compares to $2.857 trillion in previous quarter as at 31 March 2010.
$4.938 trillion by federal and related agencies, a decrease of $33 billion or 0.66% compares to $4.971 trillion in previous quarter as at 31 March 2010.
$2.503 trillion by mortgage pools or trusts, a decrease of $1 billion or 0.04% compares to $2.504 trillion in previous quarter as at 31 March 2010.
$901.616 billion by individuals and others, a decrease of $2.252 billion or 0.25% compares to $899.364 billion in previous quarter as at 31 March 2010.
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