Archive for November 7th, 2007
Seniors tap home equity with reverse mortgages
Seniors tap home equity with reverse mortgages,
Three years ago, Robert Donegan Sr. crushed four of his vertebrae in a car accident. After an extended stay in the hospital and a long road to recovery, the bills piled up and his James Island home looked neglected.
Now 87, Donegan is back on his feet. He has the [...]
Top Five Ways To Get Ripped Off With A Reverse Mortgage
Top Five Ways To Get Ripped Off With A Reverse Mortgage,
They’re called “the golden years,” that time of life when you have enough income and assets to live well and work less. Given retirement accounts, real estate appreciation over time, pensions and Social Security the ability of those over age 62 and above to live [...]
Reverse mortgages for seniors
Reverse mortgages for seniors,
EAST TEXAS– Seniors who need some extra cash for retirement may be living right there in the answer.
Experts say there has been a lot of confusion on whether reverse mortgages are a scam and who they benefit.
If it seem to good to be true, most people think it’s a scam.
For example, a [...]
Have You Considered Borrowing from the Future?
Have You Considered Borrowing from the Future?,
BNY is offering reverse mortgages on Co-op apartments and are coming down to educate residents about them
Lucky you. You own a co-op apartment on the Lower East Side that has increased in value like crazy in recent years. You’re rich!
Unlucky you. You live on a small pension in a [...]
Senior Alert: Reverse Mortgage Offers
Senior Alert: Reverse Mortgage Offers,
Senior citizens over the age of 62 whose homes carry little or no mortgage debt may receive offers for a specialized loan called a reverse mortgage. Under these arrangements, eligible homeowners are promised an up-front cash payout with no obligation to repay the loan. Even better, the sales pitch goes, seniors [...]
Reverse Mortgage Consumer Alert
Reverse Mortgage Consumer Alert,
Before you sign on the dotted line for a reverse mortgage, make sure you know all of the facts.
Reverse mortgages may be a great idea for some seniors, but officials warn be careful if you’re looking into this plan, because the consequences could effect your family.
So what is a reverse mortgage?
It is [...]
