Debt Consolidation

Custom Search

Debt Consolidation
Debt Relief
Finding Home Loans
Home Mortgage Loans
Poor Credit Mortgage
2nd Mortgage Loan
Bad Credit Home
Buying a House
Home Equity Loans,
Mortgage Refinance and
Real Estate Mortgage
Comparing Home Equity
Online Mortgage Refinance
Debt-to-Income Ratio --
Mobile Home Mortgage
How do You
Mortgage Insurance
Interest Only Mortgage
Understanding Reverse Mortgage
Understanding Mortgage Interest
Mortgage Refinancing
Mortgage Quotes
Home Mortgage Makes
Down Payments -
Home Loan Basics
Picking A Home
Adjustable Rate Mortgages
How To Find
Second Mortgage Sub
Finding the Lowest
Low Interest Rate
2nd Mortgage Loan
Know Before You
Refinancing and Current
Can I Get
Reviewing Your Closing
Learn What Refinance
Debt Consolidation
Debt Relief
Interested in a Reverse Mortgage?
by Barry McDonald
Reverse mortgages.Reverse mortgages have become popular over this past couple of years as a way of raising some much needed cashflow. Its a safe plan that a lot of older americans have taken advantage to raise cash for unexpected medic

Reverse mortgages.

Reverse mortgages have become popular over this past couple of years as a way of raising some much needed cashflow. Its a safe plan that a lot of older americans have taken advantage to raise cash for unexpected medical bills and to supplement their main income. As with all loans that are secured on your home its well worth knowing more about reverse loans before agreeing to one.

A reverse loan differs slightly from both remortgages and home equity loans in a number of ways. A reverse mortgage pays you, and is available regardless of income. No payments are made on the reverse mortgage until sell your home,die or no longer live there as your principal residence.

What should I consider before applying for a reverse mortgage?

The cost of getting a reverse mortage can be high as you may have to pay some costs in cash before receiving your loan, although some lenders may take these from the principal amount of the loan. Other costs that have to be paid are interest, insurance and whatever services costs will be added on a monthly basis, so the amount you owe will increase, but you can never owe more than the value of your home. With a reverse mortgage you still retain the title of your home but are also responsible for all taxes service charges and general costs of maintaining your home.Your relatives will not be able to inherit your home unless they pay off the loan after you have passed away.

How much money can I get from my home?

To qualify for most reverse mortgages, you must be at least 62 and live in your home. The amount you can borrow depends on a number of things, your age, the current interest rate, loans fees, the value of your home or the FHA's mortgage limits for your area whichever is less.

Getting a Good Deal.

If you are considering a reverse mortgage, shop around to compare your options and the offered terms. Learn as much as you can about reverse

mortgages before you talk to a counselor or lender. It will help you ask more informed questions, which could lead to a better deal.

For more information about home equity loans and reverse mortgages and how to avoid the scams. Visit for details.

The site is not responsible for any content in it. E-mail: alldir[at]gmx[dot]com
debt consolidation, home loan, mortgage, debt free, debt help, refinance, equity loan, unsecured, secured debt, bankruptcy, credit card , bad credit, payday, cash advance, cash settlement, line of credit, student loan, interest rate, borrow money, car loan, adverse credit, compensation, quote, credit score, consolidate debt Arlington village Newfield town Balance of Shackelford County Balance of Marion township Detroit township Loganville city (pt.) Roslyn town Independence township Jenkins Proctorville village Grover Beach Streetsboro Sorento village Balance of Imperial County Balance of Pigeon township Rock Creek village Cottage Grove village Colfax town Centerville town Stratford borough Olympia Unionville borough Santaquin Marion County Bagnell town East Rondell township Wayne Schofield Seagrove town Tenakee Springs USA UK Australia Canada Tuvalu Zambia Wallis and Futuna Malaysia Austria Ashmore and Cartier Islands French Guiana Samoa Estonia Micronesia Lincolnshire Londonderry Fife Merioneth Midlothian Banffshire Dumfriesshire Merioneth London Caithness Florida (FL) Indiana (IN) Maryland (MD) Massachusetts (MA) Palau (PW) Wisconsin (WI) New Mexico (NM) Virginia (VA) District of Columbia (DC) Nevada (NV) Arkansas (AR) Illinois (IL) Federated States of Micronesia (FM) Kansas (KS) Kentucky (KY) New Hampshire (NH) American Samoa (AS) Delaware (DE) Louisiana (LA) Maine (ME)