There are many challenges facing senior citizens today. Fixed incomes, rising healthcare costs, and everyday expenses can make it harder for seniors to make their monthly mortgage payments. Fortunately, there are programs out there offering help. And if you're 62 or older, you may qualify to ...
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 ...
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...
The demand for housing is consistent, a testament to the city’s desirability as a residential haven. Activities for Senior Citizens: Senior citizens find ample opportunities for engagement and socialization in La Cañada Flintridge. Community centers offer tailored programs that cater to the ...
While there are plenty of government home loans for senior citizens available, the only one that has a specific age requirement is a reverse mortgage. Applicants must be 62 years of age or older in order to take out a reverse mortgage. However, this age requirement doesn’t apply to other...
Watch For Reverse Mortgage Scams High on the list of people who are often preyed upon by scammers are senior citizens. Many sleazy companies will do whatever they can to make others make bad financial decisions. The reverse loan mortgage arena is undoubtedly a place where this can happen. Fro...
"Some programs are allowed to loosen ratios up to 50% for people who have compensating factors," DeSimone says. Limits may apply based on the home's location and the type of mortgage you wish to borrow. For example, conventional loans eligible for sale through Fannie or Freddie must adhere...
Our team at PierPoint Mortgage of experienced mortgage brokers is ready to guide you through selecting the best loan programs that fit your needs.
A variety of loan and grant programs are available. Government Grants for Senior Citizens That Are First-Time Home Buyers The U.S. Department of Housing and Urban Development and other federal agencies provide home-ownership grants to income-qualified households. A memo instructing the Department ...
–A reverse mortgage allows for senior citizens to gain access to a portion of the equity inside their property. –Borrowers hold title and ownership of their house. –Proceeds through a reverse mortgage are tax free but borrowers will need to obtain tax advice on how proceeds may effect gover...