Reverse Mortgage
The Complete Guide to Reverse Mortgages: Turn Your Home Equity into Instant Income!
by Tyler Kraemer

This book was so helpful in informing myself and my parents as to the options available for them. It was easy to read and easy to understand. It gave many helpful hints and helped us figure out if a reverse mortgage was approriate for them.

It is essential if you or someone in your family is considering, or wants to learn more about, a reverse mortgage loan. It walks you through the process from borrowing to repayment in a conversational, easy-to-read format. You can read about real life situations that are very helpful for you to see how a reverse mortgage can work for you.

The book provides precise information on each of the types of reverse mortgages that are available. You will find information about the ways in which you can receive your payments, and all of the incumbent fees and costs that may come with this kind of loan are revealed. It outlines how to protect yourself and how you are already protected. Checklists are provided covering all the points to consider before making each decision, such as how to choose a lender.

     

Reverse Mortgage - Mortgage Tips For AZ And FL

Reverse Mortgage * Mortgage Tips For AZ And FL

Mortgage Tips for AZ and FL   
Ajeet Khurana

Americans waste much of their working lives thinking about, planning for, and dreaming of their years of retirement.

These dreams often include fantasies of settling into a life minus all worries and looking forward to the next visit from the grandchildren. Retirement is seen as a time where special interests are explored, new skills are cultivated, family and friends are enjoyed more, and life is lived to the fullest. Unfortunately, the retirement years are filled with all kinds of challenges that are the consequences of the drop in income. Arizona and Florida are two states where this is a common problem due to their high populations of retirement citizens. When finances become a challenge, one option available to Arizonians and Floridians is that of a reverse mortgage. This enables older Americans to live in comfort and security in their own homes by turning their equity into a monthly income.

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More People Skipping Mortgage To Pay Credit Cards (Market Watch)
U.S. consumers are starting to look like a frugal, debt-fearing lot as they pay down billions of dollars in credit-card obligations. But an alarming trend is emerging: A small but growing number of people...

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What Is A Reverse Mortgage?
A Reverse Mortgage is simply a unique mortgage or loan taken out on your home that enables retired Americans to use the equity you have built while at the same time maximizing your specific flexibility to meet your financial needs. It could be used as a lump sum to pay medical bills, or simply a set amount of monthly income to supplement your current income.


What Are The Benefits To A Reverse Mortgage?
The key to a reverse mortgage is that there are no ore-payments on it as long as you live in your home. Now you can do away with your mortgage payment and have some extra cash as well. In both states of Arizona and Florida, the income you receive is tax-free and there are no income qualifications as you are using existing equity.

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Oops! Citibank Prints 600,000 Customer Social Security Numbers On Envelopes With Tax Info (New York Daily News)
Citibank mistakenly printed 600,000 customers' Social Security numbers on the envelopes containing their year end tax statements, the company acknowledged Tuesday.

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Does Everybody Qualify?
In Arizona, you need to be at least 62 years old, and in Florida 65. In both states you will be eligible if you own your home outright, or if you have an existing mortgage. The size of your loan will be determined by your age, the kind of loan you want, the value of your home, and the current market interest rates.


How Do I Pay My Reverse Mortgage Back?
You will need to pay your reverse mortgage back when the last surviving member either expires or moves out, all borrowers permanently move from the home, you stop paying property taxes or home insurance, or the property deteriorates beyond reasonable wear and tear and you do not resolve the issues.


Will My Heirs Be Responsible For My Reverse Mortgage?
Your estate will be responsible for your reverse mortgage. If your home is sold in the event of your death, the estate will repay the lender from the cash received. Any remaining equity will go to your heirs. You can never get a loan that is more than your home's value, so the proceeds from the home will repay the loan with sufficient remaining from your heirs. None of your existing assets outside of your home value will be affected.


For many retirees in Arizona and Florida, a reverse mortgage can really improve the quality of their life. They are allowing the older residents of these states experience better financial security and enjoy their retirement years in the exact same way that they had imagined them.



Ajeet Khurana writes about a host of interesting topics. He recommends: Arizona Mortgage Loans, Florida Mortgage Loans and Buying Homes.

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Index of Articles about Reverse Mortgage

What Other Authors say about Reverse Mortgage

Thousands of Older Americans are No Longer House Rich and Cash Poor by Barry Scoles

Nowadays, reverse mortgages are becoming popular among seniors and retirees as a way to supplement their income and allow them to live comfortably through their retirement. The number of seniors nationwide...

Reverse Mortgages Can Benefit Elderly by Search for classes

Reverse mortgages are available through lenders insured by the federal government and can be of great benefit to those who are eligible to apply. There are three types of reverse mortgages currently available...

Mortgages are Regulated by Federal or State of Law or Agencies by terrence turner

Mortgages are regulated by federal or state law or agencies depending on under whose law they were chartered or established. Mortgages will allow you to own a home, whether a starter home or the home of...

Reverse mortgage: Helping hand when you are in distress by Rizwan Ullah

If you are retired and alone and need financial support, nobody will be there to even listen to you. Your kids are married and they are on their on their own. They are so much tied with their own commitments...

Investing: The Ins And Outs Of Reverse Mortgages by Jeffery Voudrie

Reverse mortgages have been around since 1989, but they are rapidly gaining in popularity. The complexity of reverse mortgages makes it difficult for the average senior to separate myth from reality. Let...

Reverse Annuity Mortgage - Tapping Into Your Equity by Carrie Reeder

Reverse annuity mortgages (RAM) were created to allow older Americans to tap into the equity of their paid for or nearly paid for home. Homeowners receive a tax-free payment each month, and the mortgage...

Mortgage: for those twilight years by Maryann

Tracing back, the concept of reverse mortgages began when one good soul, Nelson Haynes of Deering Savings and Loans wanted to help out the widow of his high school football coach. Today that small act...