Written on 25 Jun, 2013 at 21:08 Reverse mortgages are not going to be an available path for many homeowners facing foreclosure, but for those 62 and older... who have equity in their homes... they can offer an answer and benefits that no other path can provide... (Continue reading...
Simply put, the fixed mortgage is a good choice for the borrower who actually wants to pay off their mortgage, and plans to stay in the home (and with the mortgage) for the foreseeable future. Tip:It could also be a good choice for an owner-occupied property you plan to rent out once...
That is, unless you’re able torefinance your mortgageor sell the property before that happens…which is what most people seem to bank on. But you can’t always count on lower mortgage rates in the future, and if you can’t handle the larger payment amount, beware! With home prices on...
Loan program options for seniors Senior home buyers have all the same loan program options as regular home buyers. That mean that the best loan option will depend on the specifics of their personal finances including how much of a down payment they can afford to make or the amount they feel...
How to Get Ready for a VA Loan We have created a step-by-step guide to financing your home with a VA loan to help wipe away some of the stress. Learn More 10 VA Loan Benefits VA loans provide a beneficial route to homeownership for those who have served our nation in the military...
DisabilityCopies of disability policy and/or benefits statement “Generally, two months’ of bank statements are needed to show those payments being deposited into the retiree’s account,” says Becker. “Since there is no paycheck, the bank statements serve the same purpose. The deposits have to...
Thus, for years the insurance industry has been sold the supposed benefits of ERMs, and now the same is being done to pension funds as well. We suggest, however, that ERMs are anything but a good investment asset for pension funds. We suggest that for any investment asset to be suitable...
This means you can stay on the SVR for as long as you like and switch to a new deal whenever you wish without paying an early repayment charge. What are the advantages of SVR mortgages? The main benefits of a standard variable rate mortgage include: Flexibility –Most SVR mortgages won...
This way you reap dual benefits from the same savings balance. What happens if my savings are higher than my mortgage balance? If your savings balance is higher than your mortgage balance, you won't benefit from those savings above the outstanding mortgage balance with an offset mortgage. As...
For those with intermittent cash flow, interest-only mortgages provide one solution to this problem, allowing borrowers to pay just the interest on their loan for a set period of time – typically up to 10 years. Interest-only mortgages can be a great tool for the right kind of borrower, ...