Ar_home_b_search
 



mortgage scam: Reverse Mortgage Scams, What They Are and How to Avoid Them - 01/31/12 03:02 PM
What is a reverse mortgage? A reverse mortgage is a government-insured home loan that lets homeowners turn some of the equity from their home into cash. The difference between a reverse mortgage and a standard home equity loan is that reverse mortgage consumers must be age 62 or older, must own the home outright (or have a low mortgage balance that can be paid off at closing with proceeds from the reverse loan), and must live in the home.
Chances are if you qualify for a reverse mortgage then you have been approached by reverse mortgage scams. According to the … (0 comments)

 

Find IL real estate agents and Chicago real estate on ActiveRain.