reverse mortgage information: Reverse Mortgages | Bend Oregon
- 09/02/10 05:51 AM
Are you considering doing a reverse mortgage in Bend, Oregon? Bend, Oregon has an opportunity to be a great place to retire for the active senior, but without enough cash reserves, one could feel stuck. This is where a reverse mortgage can help. Bend, Oregon has so much to offer in ways of site seeing, golfing, fishing, skiing and many other activities, that it would be a shame to be cash poor and real estate rich. If you own a home in the Central Oregon area and are 62 years or older, you should consider a reverse mortgage. It will change … (0 comments)
reverse mortgage information: Reverse Mortgages | How They Work
- 09/02/10 05:29 AM
Are you looking for more information about reverse mortgages and how they work? Look no further. We will cover the basics of a reverse mortgage in this article. Talking about what is different about a reverse mortgage is the easiest way to explain how they work. When compared to a "regular" mortgage, what are the advantages, disadvantages and quirks that you should know? 1. First and most important, there is almost no difference between a reverse mortgage and a normal loan. The way you take title is the same. You still own the home. You can sell or refinance anytime you … (2 comments)
reverse mortgage information: Getting the Most from a Reverse Mortgage Calculator
- 08/19/10 05:46 AM
How do you get the most from a reverse mortgage calculator? More importantly how do you use it? The benefit to using an online calculator for your reverse mortgage is you won't have any pressures from a sales person urging you to do a loan. This leaves you the opportunity to move forward at your pace. By now you should know what a reverse mortgage is or you probably wouldn't be looking at an article about a reverse mortgage calculator. So why would anyone need to know more about a reverse mortgage calculator? The answer is simple, and so are the calculators. … (0 comments)
reverse mortgage information: Reverse Mortgage in Grants Pass Oregon
- 08/17/10 10:54 AM
Are you looking for a reverse mortgage in Grants Pass Oregon? Why would someone want to retire to Southern Oregon? This question has so many answers that I hardly know where to begin. I guess we can just start listing the reasons and let them fall where they may.
Grants Pass, Oregon is known as a beautiful place to retire with so much to offer our seniors. We were even named on the top 5 places to retire by Time Magazine. With two rivers and mountains nearby, there are plenty of things to do for an active retiree. Doing a … (0 comments)
reverse mortgage information: Will A Reverse Mortgage Work If My Home Needs Repairs?
- 08/10/10 08:09 AM
What if you want to do a loan on your home, but you know the home needs repairs to qualify? Under the traditional loan requirements, you need to fix the deficient aspects of the property and then you can do a loan. What makes a reverse mortgage unique is the ability to do a loan first and then, after it closes, do the repairs. This allows you to get the money needed to do the repairs from the equity of your home. Some of the more common scenarios are: 1. Decks covered with indoor outdoor carpet (the stuff that looks like … (0 comments)
reverse mortgage information: If I Wait To Do My Reverse Mortgage, Will I Get More Money?
- 08/09/10 04:34 AM
The amount of money available to you with a reverse mortgage is factored by three variables. We will examine those in this article. 1. Your age. You have to be at least 62 years old when qualifying for a reverse mortgage, but will being older be a benefit on how much equity you can use? If interest rates and property values remain stable, you will benefit, but I don't think it makes sense to wait. Small increases in interest rates will have a negative impact, larger than the benefit of being a few years older. The prior paragraph has an exception. … (0 comments)
reverse mortgage information: If I Do A Reverse Mortgage, Will The Bank Own My Home?
- 08/09/10 04:27 AM
Too many times the argument has come up that the bank owns your home after you do a reverse mortgage. Is it true? The fact is, there is virtually nothing different about a reverse mortgage than any other mortgage when it comes to ownership. The bank uses your home for collateral the same way for either style loan. You still own the home, and you have all the rights associated with it. You can sell or refinance, without penalty, at any time you choose. If you desire to sell your home, the lender will need to be paid off, and any … (0 comments)
reverse mortgage information: Reverse Mortgage Equity - The Four Ways To Access It.
- 07/21/10 11:11 AM
With four choices on how to access your reverse mortgage equity, it is important you know your options. Let's explore these so you can make an educated decision:1. All At Once - A popular option is to take the funds available as a lump sum. The money is yours and you can use it for whatever you want. The most common use is using the reverse mortgage equity to pay off your current mortgage.2. Monthly Payments - Payments to you that is. The two options are payments that continue for a specified amount of time or a lifetime payment. Since the … (2 comments)
reverse mortgage information: What are the Reverse Mortgage Pros and Cons?
- 06/29/10 05:24 AM
You've got to admit, there are two sides to everything. Whether or not the good outweighs the bad is the real question. Are reverse mortgages good or bad? Let's get to the real truth starting with the "bad".Reverse Mortgage Cons:1. Mortgage Insurance - All FHA loans have mortgage insurance, regardless of how much equity you have available. In the case of a reverse mortgage, it is for the possibility the balance of your loan may exceed the amount your home is worth. This only applies when it is time to sell your home and is usually in the event that property … (0 comments)
reverse mortgage information: Are Reverse Mortgage Loans With A Fixed Rate Or An Adjustable Rate Better?
- 06/21/10 10:06 AM
On the surface, this sounds like an easy question. Everyone wants a reverse mortgage with a fixed rate, right? So how do you actually know if the correct choice is the fixed rate or the adjustable rate? Which program makes the most sense for you? Here are a few facts needed to help make your decision. Fixed rate reverse mortgage loans require you to take all the available equity as soon as your loan closes. This is the most important thing to know, since all your decisions will be based on this. Some examples of why you would want to take … (0 comments)
reverse mortgage information: Don't Make These 5 Mistakes With Your Reverse Mortgage.
- 06/17/10 12:41 PM
1. Using Reverse Mortgages for Short Term Fixes. While there are definitely times where a short term fix is needed, the cost of a reverse mortgage usually makes it more beneficial if you are going to keep it for several years. If foreclosure is imminent or there are repairs that need to be made to your home that can't wait, then it makes sense short term. Knowing the actual fees associated with your new loan will help you determine if it makes sense for you. A trusted loan officer will be able to guide you, but ultimately the decision should be … (2 comments)
Are you considering doing a reverse mortgage in Bend, Oregon? Bend, Oregon has an opportunity to be a great place to retire for the active senior, but without enough cash reserves, one could feel stuck. This is where a reverse mortgage can help.
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