reverse mortgage information: The New Reverse Mortgage In Fresno, California
- 01/27/15 06:32 AM
The only thing constant in life is change and like everything else the Reverse Mortgage program has been changing and evolving over the past several years. The principal limits have changed, the amount you can draw during the first twelve months has changed and coming March of 2015, the documentation requirements will be changing. Will these changes affect your ability to qualify for a reverse mortgage in Fresno, CA? A licensed loan officer will be able to determine if you qualify by putting a few pieces of information into a Reverse Mortgage Calculator for Fresno California and checking to see if you have enough … (0 comments)
reverse mortgage information: Fixed or Adjustable? A Merced Reverse Mortgage Question.
- 04/20/11 11:47 AM
Both the fed and the adjustable are great reverse mortgages, but before you jump the gun and pronounce the fixed rate reverse the winner. There are some things to know about the adjustable.The adjustable rate reverse is the reverse that allows you to take your money in differing ways: A line of credit, or monthly payments (either term or tenure), all cash or a combination of all methods. With the fixed, you must take all the money up front. (Which means you start to accrue interest on the entire amount borrowed)Here’s some things to consider: If you need the most … (0 comments)
reverse mortgage information: Fresno Reverse Mortgage Question - What happens if I outlive a reverse mortgage?
- 04/03/11 02:11 PM
What happens if I outlive a reverse mortgage?As long as the home is your principal residence, you maintain the home, pay the property taxes, insurance and homeowner dues, then the loan just stays in place with you as the homeowner. What you are probably referring to is, if, over time you withdraw all the available funds from the reverse “Line of Credit” Then what happens? Again, nothing - you still are the owner of the home with the only obligations referenced in the first paragraph to live, maintain, and pay tax &; insurance on the property. You never have to … (3 comments)
The only thing constant in life is change and like everything else the Reverse Mortgage program has been changing and evolving over the past several years.
;)
;)
