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905
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The Fascinating History of Reverse Mortgages
The history of reverse mortgages is substantially more interesting than many would think. While reverse mortgages have only become popular in the past 15 years, these loans have actually been around for decades. Contrary to what naysayers often say about these loans, reverse mortgage history is teeming with generosity, financial innovation, and positive advancement.
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By
Amber Ladlie |
Jan-12-2012
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844
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Reverse Mortgage Information: Understanding Reverse Mortgage Counseling
To qualify for a federally-insured reverse mortgage, also known as an HECM, seniors are required to complete one HUD-approved counseling session. This is one aspect of the loan process that tends to make seniors nervous. The term “counseling” can be a little intimidating. Fortunately, these meetings are much more casual and entirely more valuable than many people automatically assume.
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By
Abby Reynolds |
Jan-11-2012
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740
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Everything Seniors Need to Know About Reverse Mortgage Rates
As with any type of loan, a borrower’s interest rate will have a significant impact on his or her reverse mortgage. Reverse mortgage rates affect borrowers’ proceeds and payment options, as well as the overall affordability of the loan. Before pursuing a reverse mortgage, potential borrowers should make sure they understand reverse mortgage interest rates.
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By
Abby Reynolds |
Jan-11-2012
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712
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A Closer Look at the Reverse Mortgage Purchase Program
Before early 2009, seniors were selling their homes, purchasing new properties, and then taking reverse mortgages. This was a long and often expensive process. To accomplish this, seniors were forced to get two separate loans. Not only did they have to sell their original home, but they had to get a conventional mortgage loan and then finally a reverse mortgage.
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By
Abby Reynolds |
Jan-11-2012
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722
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Are Reverse Mortgages Safe? Discover Whether Seniors Are in Danger of Falling for a Mortgage Scam
As many consumers are aware, reverse mortgages have been widely criticized. Critics warn seniors that the industry is wrought with scams, unsavory lenders, and deceptive practices. These warnings have many seniors wondering are reverse mortgages safe? Discover how seniors can protect their reverse mortgage privacy and avoid falling for a mortgage scam.
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By
Abby Reynolds |
Jan-11-2012
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781
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Reverse Mortgage Information Regarding the HECM Options Available to Seniors
An HECM, or Home Equity Conversion Mortgage, is a type of loan insured by the Federal Housing Administration (FHA) that allows senior homeowners to withdraw a portion of the equity in their home. Today, HECMs make up more than 90% of all reverse mortgage loans. The rest of these loans are typically funded by nonprofit organizations and private institutions.
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By
Abby Reynolds |
Jan-09-2012
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658
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Two Pieces of Reverse Mortgage Information Seniors Need to Know
As the baby boomers enter retirement, an increasing number of consumers are looking for reliable reverse mortgage information. A reverse mortgage is a unique loan that lets senior homeowners over 62 years of age borrow a portion of their home equity. For many, reverse mortgages have become a vital retirement tool. Since 1990, over 734,000 seniors have used a reverse mortgage to pay off their home and improve their finances.
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By
Amber Ladlie |
Jan-09-2012
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733
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What Is a Reverse Mortgage Loan?
By now, most adults have heard of reverse mortgages, but many are uncertain as to what these loans entail. What is a reverse mortgage? In a nutshell, a reverse mortgage is a unique loan designed to help seniors, over 62 years of age, access a portion of the equity in their home.
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By
Amber Ladlie |
Jan-05-2012
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780
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What You Need to Know about Second Mortgages
A second mortgage is any loan taken out on a home that’s in addition to an existing first mortgage. Second mortgages are generally smaller in size than first mortgages, although they can still be a large sum of money homeowners can use for anything from renovating a home to sending a child off to college. Obtaining approval for a second mortgage can rely on many things, ranging from a person’s existing home equity, to their current income and debt levels, along with their credit score.
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By
BryanJ |
Jan-01-2012
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827
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What is a Mortgage Broker?
People often use the terms “mortgage broker” and “lender” interchangeably, but the two are really quite different, and knowing where those differences lie could make a huge difference in the actual mortgage payment that you make every month.
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By
BryanJ |
Jan-01-2012
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634
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What do You Need for a Second Mortgage in Toronto?
Homeowners in Toronto often find that a second mortgage could be just the answer to help them out whenever they need extra cash for home renovations, buying investment property, paying for medical expenses, or just about anything that requires some extra money. But when a second mortgage seems like it might be the answer, the first question homeowners usually have is they need in order to qualify for a second mortgage in Toronto.
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By
BryanJ |
Dec-29-2011
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683
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What are Hard Money Lenders in Canada?
Hard money lenders in Canada go by many different names, angel lenders and private mortgage lenders being just two of them. Sometimes ‘angel lenders’ might be the most appropriate, as these lenders can provide short-term loans that are secured with a valuable piece of collateral, usually a home or a piece of land. While hard money lenders will offer a home loan just like other lenders and banks, they do have a few key differences that make this type of lending so attractive for so many borrowers
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By
BryanJ |
Dec-29-2011
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555
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Save Your Home by making use of a Mortgage Modification Attorney
It is said that desperate times call for desperate measures. This is especially valid for people facing financial difficulties. If you are one of the many struggling to make ends meet and can't meet your mortgage or loan obligations, it is advisable to get the services of a loan modification attorney.
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By
Imelda Dilick |
Dec-27-2011
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634
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Using Your RRSPs One of the Benefits to Canadian Mortgages
Canada has a lot of good programs that help homeowners through things such as heating rebates and tax incentives for energy-efficient appliances. But, one of the biggest benefits the Canadian government gives its homeowners is a perk that comes even before a home is purchased – and that’s with the Home Buyer’s Plan, the program that allows you to tap into RRSPs and use them as a down payment on Canadian mortgages.
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By
BryanJ |
Dec-26-2011
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610
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Use Your 2nd Mortgage to Increase the Equity in Your Home
A 2nd mortgage in Toronto often comes down to how much equity a person has in their home. Two of the most common types of second mortgages are home equity loans and home equity lines of credit (HELOCs); and many homeowners know how much these loans rely on home equity. But there’s another element of home equity that homeowners should think about when taking out a second mortgage – and that’s making your second mortgage work for you, and to use it to increase your home equity.
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By
BryanJ |
Dec-25-2011
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446
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Reverse Mortgage FAQ: Important Questions Many Seniors Forget to Ask
While researching reverse mortgage information, most seniors ask the same few questions. Many seniors want to know how to qualify, how much they can borrow, and whether a reverse mortgage is their most beneficial option. These questions, however, are not the only ones that consumers need to be asking. For the answers to several important but less commonly asked questions, consult the following reverse mortgage FAQ.
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By
Abby Reynolds |
Dec-23-2011
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547
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What Reverse Mortgage Lenders Are Looking for in Borrowers
One of the greatest benefits of reverse mortgages--besides the fact that they provide seniors with additional cash through retirement--is that they are easy to qualify for. During retirement, many seniors rely on Social Security and savings to cover their expenses. With a limited income, it can be difficult to qualify for traditional home equity loans. Reverse mortgages were originally designed to be available to seniors of all income levels, as long as they have enough equity in their home.
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By
Amber Ladlie |
Dec-23-2011
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531
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Three Beneficial Ways to Use a Reverse Mortgage
According to a national survey conducted by AARP in 2006, 97% of seniors were very satisfied with the results of their reverse mortgage. Of the seniors surveyed, only 3% did not believe their loan had a positive impact on their financial stability. Looking at these statistics, it is obvious that reverse mortgages are benefiting the large majority of borrowers. What many seniors are wondering is how.
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By
Amber Ladlie |
Dec-23-2011
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660
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How Bad Credit will affect a Home Equity Loan in Canada
There are many benefits that come with home equity loans in Canada and many people often tout being approved for one, even with bad credit, as being one of them. While this is partly true, because these loans primarily rely on the amount of equity a person has in their home, bad credit will affect a person’s chances of being approved for a home equity loan, and it will definitely make a difference in the final terms of the loan.
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By
BryanJ |
Dec-26-2011
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574
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How to Calculate Home Equity Line of Credit Payments
When homeowners are considering applying for a home equity line of credit, it’s important that they first make a rough calculation of what they can afford. In order to do this, homeowners need to start with some general figures and calculate what the monthly payments will be. Before you can do this though, you first have to know how home equity line of credit payments work and how to calculate them.
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By
BryanJ |
Dec-26-2011
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489
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Mortgage Broker Training: What are Mortgage Loans?
This article is about mortgage broker training
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By
Giovanni Stephan |
Dec-16-2011
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509
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Important Part of Mortgage Loans
People don't just lose their homes to foreclosure like that; they love the homes they live in just as much as the other guy. Something has got to happen to make them fault in their monthly mortgage payments.
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By
Sarfraaz Ansari |
Dec-15-2011
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552
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Understand the Mortgage Loan Market
Without a mortgage loan, there is only so much you can achieve. You could have a lot of dreams, but they will remain just that - dreams. However, if you are bold enough to get a move on, you can totally change your life, and you know it.
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By
Sarfraaz Ansari |
Dec-15-2011
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485
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Mortgage Company MD: make the best selection
Looking out for the right kind of loans from the mortgage company MD is very much important but then it is just possible after research.
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By
Get Leads Fast |
Dec-06-2011
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409
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Reverse Mortgage company: look out for a reliable one
The need for mortgage can arise at any pointy of time and thus it is important that irrespective of the kind of loan which you might require you will just have to be sure that you go along with the right kind of reverse mortgage company for the same
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By
Get Leads Fast |
Dec-01-2011
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