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Reverse Morgage

 

Used to release the equity of a home, reverse mortgages are often times used by senior citizens. Discover more information on reverse mortgages.

Reverse Mortgage 

A reverse mortgage (known as lifetime mortgage in the United Kingdom) is a loan available to seniors (62 and over in the United States), and is used to release the home equity in the property as one lump sum or multiple payments. The homeowner's obligation to repay the loan is deferred until the owner dies, the home is sold, or the owner leaves (i.e. into aged care).


In a typical mortgage the homeowner makes a monthly amortized payment to the lender; after each payment the equity increases within his or her property, and typically after the end of the term (e.g. 30 years) the mortgage is paid in full and the property is released from the lender. In a reverse mortgage, the home owner makes no payments and all interest is added to the lien on the property. If the owner receives monthly payments, then the debt on the property increases each month.


If a property has increased in value after a reverse mortgage is taken out, it is possible to acquire a second (or third) reverse mortgage over the increased equity in the home. But in certain countries (including the United States), a reverse mortgage must be the first and only mortgage on the property. For more, see Wikipedia, Reverse Mortgage.

Reverse Mortgage Headliners 

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Best Sellers on Reverse Mortgages 

Reverse Mortgages For Dummies

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The Reverse Mortgage Advantage: The Tax-Free, House Rich Way to Retire Wealthy!

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Reverse Mortgages

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The Pocket Idiot's Guide to Reverse Mortgages (The Pocket Idiot's Guide)

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Reverse Mortgages: Facts and FAQs

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Reverse Mortgage Essentials

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The Reverse Mortgage Handbook: A Consumer's Guide for Senior Homeowners

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The Reverse Mortgage Residential Foreclosure Program

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Article and Resources for Reverse Mortgages 

It's no surprise that reverse mortgages are becoming popular among seniors - US News and World Report
For many of today's retirees, a home can seem like Fort Knox without the key. Escalating real-estate prices have caused many seniors' homes to skyrocket in value. But unless they're willing to sell, it may be an inaccessible gain during a time in their lives when extra income and liquid assets would help...
Field Guide to Reverse Mortgages (NAR Information Central)
A reverse mortgage can provide cash to homeowners who do not want to move but would like to tap the equity in their home by allowing senior citizens to borrow against the equity, but they can pose risks to homeowners. This page includes articles, books and websites relating to reverse mortgages. Books can be borrowed through the Information Central library by clicking on the book title...
The Reverse Mortgage: A Retirement Tool
If you own your own home and are at least 62 years of age, a reverse mortgage provides an opportunity to convert your home equity into cash. In the most basic terms, the reverse mortgage allows you to take out a loan against the equity in your home...
Is Refinancing A Smart Idea?
With the various fluctuations in interest rates over the past few years, you have no doubt thought about whether or not refinancing your home is a good idea. Countless consumers have done so in the face of favorable interest rates over the past few years...
Stay Out Of Financing Trouble
The attention for many seniors turns to saving money and planning to funding the remainder of their lives. Certainly, planning for the future is a an exciting prospect, but it can be a daunting one as well...
Release Your Equity ~ Home Owner Loans
Home owner loans attract all types of consumers with all types of reasons to free up some of the equity they have built up in their home for other uses. Perhaps you're looking at taking at that once-in-a-lifetime European vacation or just need the cash...
The Non-Mortgage Mortgage Calculator
There are a variety of mortgage calculators widely available on the Internet and through other sources that can tell a consumer everything from the type of house that can be purchased or the size of payments that can be expected...
When Your Finances Get Stretched Too Thin
Foreclosure is a four letter word for most home owners. As times get tighter and finances get stretched thinner and thinner, the high price tag of a mortgage payment can quickly seem like an untenable cost that is only dragging down you or your family...
HUD News Release | Reverse Mortgages
Two million older Americans could tap into the equity they have built up in their homes by obtaining reverse mortgages if Congress passes legislation to modernize HUD's Federal Housing Administration (FHA), according to a U.S. Department of Housing and Urban Development estimate released today...
A "Rising Debt" Loan | AARP
The purpose of a reverse mortgage is different from that of a traditional "forward" mortgage. The purpose of a forward mortgage is to purchase a home; the purpose of a reverse mortgage is to get cash from your home...
A New Kind of Loan: In Reverse | AARP
A "reverse" mortgage is a loan against your home that you do not have to pay back for as long as you live there. With a reverse mortgage, you can turn the value of your home into cash without having to move or to repay the loan each month. The cash you get from a reverse mortgage can be paid to you in several ways...
Basic Loan Features of a Reverse Mortgage | AARP
Although there are different types of reverse mortgages, all of them are similar in certain ways. Here are the features that most have in common...

Reverse Mortgage Blog Posts 

Reverse Mortgage News Headlines
Reverse Mortgage Abuse on the Rise (Kiplinger); Fidelity Reverse Mortgage Recruits Online (Transworl...
How to Shop for Reverse Mortgage in Texas
If you decide a reverse mortgage is right for you, you have still more decisions to make, including...
Countrywide Refuses To Accept Funds From Reverse Mortgage To Stop ...
In an attempt to stay in her home Ms. Pinkins applied for a reverse mortgage and is able to pay off...
Reverse Mortgage Pitfalls
Tap into your home equity with a reverse mortgage, but beware the risks. Here's how you can get burn...

Reverse Mortgage Reader Feedback 

traff20

great lens you give,4 stars for you.

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work at home typing jobs no cost ever free start up

Posted July 14, 2008

Barryfromtexas

OK, but are they or are they not a good idea? :)

Posted March 10, 2008

ShortSaleRealtor

another good one 5 stars

Posted October 12, 2007

Another Lens by Joe and Colleen Lane 

When considering a reverse mortgage, please call for more information.

Tri City Wa Real Estate


Real Estate Websites: Tri City Wa Real Estate | Washington Real Estate News


Creative Commons License Some of this work is licensed under a Creative Commons License. All original work, design, and imagery is Copyright (c) 2007 The Lane Real Estate Team.

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