Archive for November, 2007
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 [...]
Reverse mortgage lender gets tax break, fights allegations
Reverse mortgage lender gets tax break, fights allegations,
A reverse mortgage lender has met one of its growth benchmarks by creating 100 jobs in just four months, under a deal with the state for $3.5 million in tax benefits.
But even as Melville, N.Y.-based Vertical Lend Inc. continues its growth in Troy and plans to add 60 [...]
Seek unbiased help if considering reverse mortgage option
Seek unbiased help if considering reverse mortgage option,
Many people aged 62 or older are “house-rich and cash-poor.” They’re free of house debt but their income is limited. A reverse mortgage may allow some to take advantage of their house as an asset and convert it to income.
A reverse mortgage is a loan, where the lender [...]
India: Reverse Mortgage Loan getting good response
India: Reverse Mortgage Loan getting good response,
MUMBAI: Traditionally in India retirement from active service is usually considered to be the end of active life, and sooner or later a retiree becomes entirely dependent on his or her children. A promise in the current year’s budget by Finance Minister P Chidambaram of introducing reverse mortgage products [...]
Letter: Be wary of reverse mortgages
Letter: Be wary of reverse mortgages,
If the government is willing to insure and ensure any reverse mortgage loan with a financial mortgage lender will be paid off so that elderly, needy folks can remain in their homes, why do we need a third party in on the deal? Specifically, reverse mortgage firms that are not [...]
