Senior Life: Pursuing and Celebrating Justice for Older Pennsylvanians – For seniors, without a safe, habitable home. Whether a homeowner facing mortgage foreclosure, problems with a reverse mortgage or real estate taxes, home repair contractor fraud, deed issues,
What Is a Reverse Mortgage? – AARP Official Site – The aarp foundation publication reverse Mortgage Loans: Borrowing Against Your Home is an an easy-to-understand guide for older adults who are considering such a mortgage refinance for their home (PDF).
Two New Jersey Men Arraigned in Reverse Mortgage Scam – Two men from the state of New Jersey have been arraigned in the U.S. District Court of New Jersey for their alleged respective roles in defrauding several senior homeowners in a scheme related to the.
HUD Addresses Concerns About Reverse Mortgage Foreclosures – Reverse mortgages have become a popular-and sometimes controversial. “We can all agree that we should do everything we can to keep widowed seniors in their homes and to prevent all unnecessary.
What Is a Reverse Mortgage | How Does It Work in Simple Terms – A reverse mortgage is a loan for senior homeowners that allows borrowers to access a portion of the home’s equity and uses the home as collateral. The loan generally does not have to be repaid until the last surviving homeowner permanently moves out of the property or passes away. 1 At that time, the estate has approximately 6 months to repay the balance of the reverse mortgage or sell the.
Is A Reverse Mortgage A Good Thing Is Reverse Mortgage a good thing to do? | Yahoo Answers – If you approach a reverse mortgage as if you are selling your house but you get to continue to live there until you need to move into a retirement home or die–then yes it can be a good thing.
5 Reverse Mortgage Scams – In recent years, as the number of senior homeowners who opt for a reverse mortgage has risen and so has the prevalence of reverse mortgage scams. (For related reading, also take a look at The Reverse.
Can I Buy A House With A Reverse Mortgage Reverse mortgage interest rates and Fees – NewRetirement – Many people are concerned about the costs associated with a Reverse Mortgage, as well as the impact interest rates have on both how much can be borrowed now and the future balance owed.
Why Reverse Mortgage is the Right Loan Option for Seniors – A reverse mortgage is thought to be an ideal solution for seniors since it is treated as a separate loan. This means that the seniors can use the payments disbursed through a reverse mortgage to pay off their existing loans.
HUD.gov / U.S. Department of Housing and Urban Development. – There are many factors to consider before deciding whether a HECM is right for you. To aid in this process, you must meet with a HECM counselor to discuss program eligibility requirements, financial implications and alternatives to obtaining a HECM and repaying the loan.
What is a Reverse Mortgage – Seniors First – Reverse mortgages are loans for pensioners and retirees that are designed specifically for older borrowers who are typically asset rich’ but cash poor’. Known variously as senior’s loans’, reverse home loans’, and senior’s finance’, reverse mortgages are the.