Senior citizens with a mortgage may have a hard time qualifying for a home refinance, particularly if they are no longer in the workforce. A refinance can allow a homeowner to pull equity out of their home for practical purposes, such as bill paying, or to lower their current monthly payme...
In reverse mortgage, lender makes the monthly payments to mortgagees who are senior citizens. The objective is to enable senior citizens to meet unexpected expenditure needs without the obligation of repayment until the completion of a fixed loan period of fifteen years. This paper discusses the ...
Simply put, a reverse mortgage allows a homeowner to receive funds without having to make payments as long as they reside in the same house. The borrower may choose to receive it as a lump payment or as a fixed monthly income or in whatever forms they like. It is important to know that...
HECM Senior Home Financing helps seniors live out the retirement of their dreams. Buy your house with approximately 70% down payment and never make another mortgage payment!*
So what can be done to help alleviate the situation and help more seniors responsibly gain access to mortgage loans? In addition to new data sets like telecommunications, pay TV, and utility payment data, which can provide greater visibility into some borrowers’ accurate financial picture, ac...
We offer reverse mortgages to help senior citizens convert their home equity into cash to supplement their retirement income. MSHDA DOWN PAYMENT ASSSTANCE We provide MSHDA Down Payment Assistance Loans which provides eligible homebuyers in Michigan with financial support to cover a portion of their dow...
How King County Senior Citizens Can Reduce Their Property Taxes As the October 31 property tax payment deadline nears, King County Assessor John Wilson has a clear message for seniors: Take advantage of the county’s property tax relief program, which is designed to help seniors reduce their ta...
When you qualify for this type of financing, it’s possible to choose to get your money in the following manner: One single lump sum payment. Receiving monthly payments while you live in the home. Getting monthly payments over a certain amount of time. ...
Generally, interest rates are higher for people with lower credit scores, regardless of whether they are first-time or seasoned homebuyers. Look at the entire loan package to choose the best option. Many first-time homebuyers falsely believe that the loan with the lowest interest rate is the on...
I’m Paul Snyder and I have been helping senior citizens with reverse mortgages since 2005. As a senior citizen myself, I understand the needs and concerns of my clients and work with them each step of the way to make the reverse mortgage process easy and stress free. You can reach me...