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One of the most significant questions in the United States is  whether Americans are saving enough for retirement. Housing wealth is closely related to this issue since it is often the biggest wealth abundance of the elderly. However, many people do not take in consideration that we have a perfect solution for creating a retired pay. The solving key is  Home-Equity Conversion-Mortgages HECMs. HECM invented approximately 20 years ago. It is […]

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In order to secure your retirement, a senior reverse mortgage might just be your solution, but what if your spouse or you are a non-borrower? This title comes with some ramifications that you should be aware of. First, understand that as a spouse you may not be a borrower on loan for some reasons including if you’re younger than 62, were married after the loan closed, have not been on […]

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The role of senior reverse mortgage HECM counselor is not only in helping major borrowers in analyzing the best loan option to convert their house capital into cash but it is also important for them to connect with reliable reverse mortgage lenders to ensure secure process. As senior reverse HECM mortgage counselors are in this field for many years, they will have much information about legitimate companies that have long […]

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Home Equity Conversion Mortgage (HECM) can you give the best reverse mortgage deal you can imagine, without any repayment fees as long as the person lives inside their residence. The deal can be secured by a mortgage lien at the senior’s residence, and most of the loan payment usually paid out over. You should be minimum sixty-two years of age or older and should have sufficient equity in your permanent […]

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Senior reverse mortgages make it possible for senior homeowners to borrow against the value of their homes and never worry about making monthly repayments for the loan. Most of these mortgages are Home Equity Conversion Mortgages, and as HECM, they become due when a “Maturity Event” occurs.  In senior reverse mortgage jargon, a maturity event is  needed for the repayment of the mortgage to commence and they include-: 1. The death […]

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What are the tips when buying a home with a reverse mortgage? Before you can buy a home with a reverse mortgage loan, you should know the tips as well as information that will enable you to make an informed decision. Here is a guide when buying a home with a reverse mortgage: Reverse mortgages are commonly known as a way of supplementing a senior citizen’s fixed income through tapping […]

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In this article, continuing from an article about senior reverse mortgages I am going to write an article on reverse mortgages, applied for through the FHA or Federal Housing Association. Established in 1934 the FHA offers mortgage insurance on loans through FHA approved lenders. The FHA provides loans to single occupied, or multi lived in family homes and other approved purchases.The FHA does not itself issue the loans, but the […]

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With the onset of online reverse mortgage calculators, the Need to visit the mortgage broker or a lender for an accurate quite has been invalidated. Most of the calculators help prospective homeowners have a feel of the rates that they will be paying. However, there have been issues raised on how accurate the mortgage calculators. This article explains the accuracy of senior reverse mortgage calculators and what steps one has […]

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Many people often ask on how they can repair their homes with a senior reverse mortgage when they want to improve their living standards remarkably. A senior reverse mortgage loan is the best option for people who cannot keep down with their house maintenance expenses as well as the other costs. Also, it is commonly associated with homes with no monthly mortgage payment especially when using the reverse mortgage calculator […]

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United States’ HUD department has again made changes in its reverse mortgage rules with regards to the rights_ of surviving spouses. The new changes allow loan servicers to allow back a reverse – mortgage loan to the HUD where there is still a living spouse. The reverse mortgage lender can after that make financial-claim against FHA – Insurance Fund. The Nation’s Housing After Marciano passed away in 2014, Alva, his […]

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