reverse mortgages maryland: Steps For Obtaining A Reverse For Purchase Morgtgage
- 07/10/10 10:24 AM
STEPS TO OBTAINING A REVERSE FOR PURCHASE OR REVERSE MORTGAGE A lot of people losing their homes become paralyzed with fear and don't do anything Before the reverse loan person can take a loan application from the potential borrower, the senior must receive counseling from HUD approved counselor. The counseling can be obtained from a face to face visit or via telephone. The lender will provide a list of at least 10 approved counseling agencies. The agencies normally charge anywhere from $85.00 to $125.00. Some receive grants and are even free depending on if a grant is available to them at the time. … (1 comments)
reverse mortgages maryland: REVERSE MORTGAGES: SUBPRIME DEBACLE OR PARACHUTE
- 05/18/10 03:46 PM
The intent of the reverse mortgage is not for short term holdings. The very first reverse mortgage was made in 1961 to a widow to help relieve her financial burden. The loan was structured similar to an annuity with the idea that the homeowner's equity would be tapped to allow them to have a monthly income with no monthly payment so they could pay their bills and keep up with the cost of living. There were growing pains in the first years of the reverse mortgage because there were not enough guidelines and protections for seniors. It wasn't until the late … (4 comments)
reverse mortgages maryland: Seniors Should Not Lose Their Homes To Tax Sales and Foreclosures If They are 62 And Have Enough Equity
- 05/10/10 02:07 PM
Reverse Mortgages in Maryland I help seniors purchase homes with NO MONTHLY PAYMENTS - new loan signed off by Congress in 09 - part of the stimulus package to help seniors purchase homes they want and stimulate housing industry. 5300 Westview Dr. #302 Frederick, MD 21703 Phone: 240 575-5794 Website: Loans And Homes For Seniors in Maryland Email : mandes02@gmail.com There is an epidemic of senior citizens nationwide losing their homes to tax sales and foreclosures. This is becoming much too frequent and is an assault to our “endangered species” – our senior citizens. According to Government Repo Homes, “About … (6 comments)
STEPS TO OBTAINING A REVERSE FOR PURCHASE OR REVERSE MORTGAGE
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