Real estate blog entries tagged with virginia homes for sale by Lanre "The Real Estate Farmer"Folayan Buy a home in Washington DC (EXIT Advance Realty-Washington DC House for sale)

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Home : Blogs : Lanre "The Real Estate Farmer"Folayan Buy a home in Washington DC : DC Petworth Homes for Sale : Tag "virginia homes for sale"

virginia homes for sale: NEW REVERSE MORTGAGES BRING PERKS,BUT ALSO SOME RISK - 10/13/07 07:03 PM

The new breed of reverse mortgages allow for higher loan amounts and lower fees but may charge higher interest rates.
Reverse mortgages allow homeowners,
62 and older to convert home equity into income, with the lender paying out via a lump sum,monthly payments or a credit line. When the house is sold,the lender is paid back with interest. With a typical reverse mortgage, the homeowner never owes the lender more than the value of the home. More lending institutions are getting comfortable with reverse mortgages and offering more variety so more choices are available. There are more resources and more … (24 comments)

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Lanre "The Real Estate Farmer"Folayan Buy a home in Washington DC

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