| Heirs benefit from home appreciation |
| Pub Date: Mon, 12 May 2008 10:00:00 EST |
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One of the great benefits of a reverse mortgage is that the borrower can never owe more than the home’s value. It is comforting knowing that you wouldn’t have to take the fall for declining home values, especially in today’s real estate market. But what if the value of the home exceeds the amount of the loan? For example, if in a few years from now, your home appreciates and is worth more than when you took out a reverse mortgage, where would the difference go? In that case, the money would go to your heirs or estate. So even though your heirs might not be able to keep the house itself after you pass, they still get to keep the appreciation of the house. |
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| Understand a reverse mortgage before making a decision |
| Pub Date: Fri, 09 May 2008 10:00:00 EST |
| It is very important to thoroughly educate yourself about all aspects of a reverse mortgage loan. Many seniors who have one are satisfied with their decision, but then again, everyone’s situation is different. [...] read more |
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| House will consider new foreclosure bill |
| Pub Date: Thu, 08 May 2008 10:00:00 EST |
| The American Housing Rescue and Foreclosure Prevention Act will be considered by the House this week. Part of the act would include a voluntary FHA program which would provide mortgage refinancing assistance. [...] read more |
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| Reverse mortgage loans on the rise |
| Pub Date: Wed, 07 May 2008 10:00:00 EST |
| A key determination as to how much you can receive with a reverse mortgage loan is this: the older the borrower and the more valuable the home and the less owed on it, the more money is available. [...] read more |
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| Access equity in your home tax free |
| Pub Date: Tue, 06 May 2008 10:00:00 EST |
| One of the greatest benefits of a reverse mortgage loan is that it is tax-free. Seniors can draw money out of their home, which is usually their most valuable asset, without any tax consequences. [...] read more |
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| Seniors coping with rising prices |
| Pub Date: Mon, 05 May 2008 10:00:00 EST |
| How are seniors on a fixed income coping with the rising cost of food, gas and many other everyday staples? Some are relying on families to make ends meet, others are thinking about selling their home, just for extra money. [...] read more |
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| Choosing a reverse mortgage lender |
| Pub Date: Fri, 02 May 2008 10:00:00 EST |
| When choosing a reverse mortgage lender, it is important to review and compare certain factors. For example, it is important that lenders provide different fixed and variable interest rate options to choose from. [...] read more |
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| When will reverse mortgage limits increase |
| Pub Date: Thu, 01 May 2008 10:00:00 EST |
| Many seniors are waiting for an increase in loan limits for reverse mortgages. The Economic Stimulus Act of 2008, which just recently passed included a temporary increase in loan limits for all “forward” mortgages, but left out Home Equity Conversion Mortgages. [...] read more |
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