mortgage financing and programs

Archive for January, 2009

Reverse Mortgages from Chosad are Helping Seniors Meet Their Financial Needs

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Many Senior Americans have felt the pinch from the recent banking and investment crisis. We are most certainly in a recession and it has caused all our retirement nest eggs to shrink. The good news is for many seniors there is still a safe haven in which they can draw money to offset the losses to their retirement accounts. The safe haven I’m talking about is your home equity. A Reverse Mortgage from Chosad allows you to safely tap into your home equity so you can weather these tough times.

Most seniors purchased their homes long before home values began to skyrocketing in the late 90’s. Even with the recent housing crisis most seniors have considerable equity in their homes. Now is an excellent time for seniors to access that equity via a Reverse Mortgage and use that money in the years that they need it the most and not have to worry about paying it back in their lifetime.

If you know someone 62 years or older that owns their home and is struggling to make their payments you should have them contact us immediately to discuss how a Reverse Mortgage can help. Just click here to fill out our loan quote request form for a no-cost, no-obligation consultation with one of our loan officers, or call us at 1-866-377-2111.

Chosad Now an Approved PHFA Lender

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Chosad & Financial, Inc. has recently been approved as a lender for The Pennsylvania Housing Finance Agency (PHFA). The PHFA has a number of terrific programs available to Pennsylvania borrowers such as The HOMEstead Downpayment and Closing Cost Assistance Loan. The HOMEstead Programs offers eligible borrowers up to $14,999 in downpayment and closing cost assistance in the form of a no-interest, second mortgage loan. For more information give us a call at 604-916-2321.

Mortgage Rates fall to 5%

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Mortgage rates have fallen for the 10th straight week. This also marks the 3rd straight week of setting a new record low for the average 30-year fixed mortgage according to Freddie Mac’s weekly survey of rates. The Average 30-year fixed rate now stands at 5.01%

Mortgage Rates Drop To Yet Another Record Low

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The average 30-year fixed mortgage rate dropped again this week to 5.10% according to Freddie Mac’s weekly rate survey. This marks the third straight week the survey has reported a new record low for 30-year fixed mortgage rates. It also marks the ninth straight week the rate has dropped.

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