Here are four key signs that you’ve found the rightreverse mortgage lenderfor your situation, according to Steven Parangi, an attorney and owner ofAlpine Mortgage, a mortgage lender. He made clear that “a reverse mortgage isn’t a product you choose on a whim; it’s a big financial de...
The surviving spouse may be able to sell the house and pay off the reverse mortgage. However, depending on how much the house is worth and how high the loan balance is, selling may not leave the surviving spouse with enough of a nest egg to live on. If the surviving spouse has enough...
A single-purpose reverse mortgage allows homeowners ages 62 and older the ability to turn existing home equity into a steady income stream in retirement.As with any reverse mortgage, lenders make payments to borrowers as an advance on their home equity. In most cases, lenders expect repayment wh...
000, that Ms. Santos learned the loan had in fact jeopardized her parents' nest egg. The financial company that extended the loan, Reverse Mortgage Solutions, moved to foreclose unless she paid the full balance of the mortgage.
Reverse Mortgage Has Its Pitfalls If a Fixed Rate of Interest AppliedRead the full-text online article and more details about "Reverse Mortgage Has Its Pitfalls If a Fixed Rate of Interest Applied" - The Observer (Gladstone, Australia), March 6, 2012The Observer (Gladstone, Australia)...
Pitfalls of a Reverse MortgageLenders are increasingly threatening to foreclose unless thedebts are paid in full, according to...SilverGreenberg, Jessica