| Understand a reverse mortgage before making a decision |
| Pub Date: Fri, 09 May 2008 10:00:00 EST |
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It is very important to thoroughly educate yourself about all aspects of a reverse mortgage loan. Many seniors who have one are satisfied with their decision, but then again, everyone’s situation is different. There are many fees associated with a reverse mortgage that you should understand. If you are currently in negotiations with a lender, make sure you ask every possible question about what you are signing so that you know almost as much as they do. Did you know that most reverse mortgage loans tack on a $35 fee each time a check is mailed? If that is the case with the product you are looking into, then maybe taking the money as a lump sum may be a better choice. Talk to someone who cares and who has your best interest in mind before you make any concrete decisions. |
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| House will consider new foreclosure bill |
| Pub Date: Thu, 08 May 2008 10:00:00 EST |
| The American Housing Rescue and Foreclosure Prevention Act will be considered by the House this week. Part of the act would include a voluntary FHA program which would provide mortgage refinancing assistance. [...] read more |
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| Reverse mortgage loans on the rise |
| Pub Date: Wed, 07 May 2008 10:00:00 EST |
| A key determination as to how much you can receive with a reverse mortgage loan is this: the older the borrower and the more valuable the home and the less owed on it, the more money is available. [...] read more |
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| Access equity in your home tax free |
| Pub Date: Tue, 06 May 2008 10:00:00 EST |
| One of the greatest benefits of a reverse mortgage loan is that it is tax-free. Seniors can draw money out of their home, which is usually their most valuable asset, without any tax consequences. [...] read more |
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| Seniors coping with rising prices |
| Pub Date: Mon, 05 May 2008 10:00:00 EST |
| How are seniors on a fixed income coping with the rising cost of food, gas and many other everyday staples? Some are relying on families to make ends meet, others are thinking about selling their home, just for extra money. [...] read more |
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| Choosing a reverse mortgage lender |
| Pub Date: Fri, 02 May 2008 10:00:00 EST |
| When choosing a reverse mortgage lender, it is important to review and compare certain factors. For example, it is important that lenders provide different fixed and variable interest rate options to choose from. [...] read more |
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| When will reverse mortgage limits increase |
| Pub Date: Thu, 01 May 2008 10:00:00 EST |
| Many seniors are waiting for an increase in loan limits for reverse mortgages. The Economic Stimulus Act of 2008, which just recently passed included a temporary increase in loan limits for all “forward” mortgages, but left out Home Equity Conversion Mortgages. [...] read more |
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