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The Department of Housing and Urban Development (HUD) offers a program that targets a specific group of suitable home buyers. For those people who are eligible for a mortgage loan (HECM), there may be exactly what is needed for their potential investment in real Under this program; the United States Treasury provides limited incentives for servicing loans to help change existing loans that can be redeemed. This program allows homeowners […]

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Finding the right reverse mortgage lender is not an easy task. It’s like finding an ideal bank that can serve you in all aspects of financial affairs. A senior reverse mortgage loan is not a simple matter because it includes many complex solutions. It is important that you have complete confidence that you are dealing with an honest, authoritative, competent and knowledgeable creditor. There are several ways to verify the […]

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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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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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A senior reverse mortgage is basically an avenue for seniors within the community to improve their retirement security. Its popularity has been on the increase in the recent past with well over 1 million customers benefitting. If you are planning to get a reverse mortgage, then it is important to shop around. This will help in educating you about the product. The product is complex and there is need to […]

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The senior reverse mortgage is gaining popularity, and more senior citizens are opting for it each year. Also known as the Home Equity Conversion Mortgage (HECM), the reverse mortgage has offered financial security to many senior citizens and acts as a fallback option to many people. It is preferred because it does not have any monthly mortgage payment, but instead, the borrower gets cash payouts. The qualification to apply is […]

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One of the most popular questions from homeowners planning to take a senior reverse mortgage is, how much will I receive? Well, the answer to this question depends on various factors, and there is no standard amount. These factors that determine the amount of money you receive from a reverse mortgage include the following: 1. Age Just to qualify, you need to be at least 62 years of age. The […]

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Reverse Mortgage borrowers are getting Smarter with time, the types of people applying for the reverse mortgage are becoming smarter. Earlier the appliers were seniors who were at the end of the financial rope. Nowadays, people are opting senior reverse mortgage to leverage their home equity and to improve their retirement plan. These plans are helping them to become more stable. Here we are discussing few reasons which state why […]

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Financial decisions are usually critical decisions in life especially if they involve your family. It is because of this reason that you are required to consider the people around you before making any financial decisions. However, it is one thing to consider them and another to tell them about the decision. When it comes to reversed mortgage, the situation at hand becomes even more delicate because it involves your own […]

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Of the 198,276 senior Americans applying for reverse mortgage loans, 76% of these applicants focus on the important role it plays as a retirement tool and on the loan limits they are eligible to. If you aren’t worried about the latter, you may be part of the 24% that pay close attention to consequences of taking up a senior reverse mortgage in the entirety. A senior reverse mortgage is undeniably […]

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