reverse mortgage in michigan: Payment Methods for Reverse Mortgages
- 04/03/08 04:03 AM
Now that you've decided that you a reverse mortgage is right for you and your family, you still have one decision left to make; you must decide how you want to receive the proceeds from your loan. You can receive the money from your reverse mortgage in a variety of different ways. Each one has its own distinct pattern and advantages. The first option for receiving your reverse mortgage proceeds is receiving it as one lump sum. This payment method is popular with borrowers who are using their reverse mortgage to pay for their home. Using our special program available to … (3 comments)
reverse mortgage in michigan: Seniors Over 62: It's Not Too Late to Realize Your Home Ownership Dreams
- 03/25/08 08:28 AM
Thanks to the availability of the FHA-sponsored Home Equity Conversion Mortgage (HECM) seniors in Wayne, Macomb, and Oakland counties in Michigan have the opportunity to finally achieve their goal of home ownership. Also known as HUD's (Department of Housing and Urban Development) Reverse Mortgage program, a HECM allows senior citizens to purchase a home, even if they've never owned a home before. Qualifying individuals over the age of sixty-two can even enjoy their new home without facing the obstacle of monthly mortgage payments. The road to home ownership begins with selecting a home from our inventory of available homes. These homes … (1 comments)
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