With decline in reverse-mortgage lenders, seniors have fewer optionsTom Kelly
Since I am an independent mortgage professional - I don't work for any of the lenders - I want to make sure that you see all of the options out there, and see what the reverse mortgage allows you to do. I've outlined alternative options that I'll walk you through in my free guid...
“This new partnership with Mortgage Coach opens doors for forward mortgage lenders to drive new undiscovered loan revenue and profitability by leveraging the surging home equity market via HECM mortgages,” said Stephen Ryczek, president of Constellation Mortgage Solutions...
Another relatively easy ways for banks and lenders to increase affordability and reduce monthly mortgage payments is to extend theamortization of the loan. Instead of a standard 30-year amortization period, the loan may be stretched another 10 years, to a 40-year term, thereby pushing payments t...
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You can still get on a payment plan if you won't have the funds within six months, but there are additional fees. And, as with a short-term plan, you'll be hit with a 0.5% failure-to-pay penalty. If you register for automatic monthly withdrawals online, there is a $31 set-up ...
Private lenders also offer home improvement loans, though they aren’t designed specifically for seniors. For most, you will need: A credit score in the 600s or higher. A steady source of income. A debt-to-income ratio under 36 percent. If you want to qualify for a home equity loan or...
Learn moreFind a mortgage advisor Finding the best loan that fits your needs starts with knowing how much you can afford. By knowing the rates available, you can calculate your monthly payment to understand what will fit into your budget. Speak to one of our lenders to guide you through the...
PLANNING AHEAD- LTC Insurance Agents, Elder Law Attorneys, Reverse Mortgage Lenders, Medical Alert Companies PROFESSIONAL SERVICES- Geriatric Care Managers, Elder Law Attorneys, Home Modification Contractors, Senior Moving Services, Downsizing & Estate Sales, Senior Care Advocates / Locators ...