For Many Seniors, There May Be No Retirement http://online.wsj.com/article/SB10001424053111903639404576520772216559438.html?mod=googlenews_wsjDetails
Yes, you can default on a reverse mortgage. When a borrower attains a reverse mortgage, they agree to pay and keep current their property taxes and homeowner’s insurance policies. Failure to do so puts the homeowner in default to the contract with their lender.Details
The AARP has published the 10 Most Affordable Cities for Retirement.
The 10 most affordable places are located in the following states. Click a state name to see which city made the cut, and why.
From AARP: http://www.aarp.org/home-garden/livable-communities/info-07-2011/affordable-cities.print.html
Currently borrowers can attain a FHA insured reverse mortgage based on home values up to $625,000. Unless Congress takes some action, the lending limits for reverse mortgages will lower in over 600 counties across the United States. Congress temporarily increased the lending limits to $625,500 in 2008. On October 1, 2011 they will revert back…Details
Yes, you can default on a reverse mortgage. When a borrower attains a reverse mortgage, they agree to pay and keep current their property taxes and homeowner’s insurance policies. Failure to do so puts the homeowner in default to the contract with their lender. It’s not widely known but tens of thousands of reverse mortgage…Details
I talked with 3 other companies before I talked to Angella- she was by far the most professional, thorough, responsive.
I now do a "Happy Dance" the 1st of the month instead of writing a check for my mortgage – No Worries!
You have seen them on TV, you have received dozens of pieces of junk mail regarding them, but where do you get the facts and how do you decide if a reverse mortgage is right for you? The best resource for reverse mortgage facts is professional or non-profit organizations. Many reverse mortgage lenders will provide…Details
Hire only state-licensed contractors. Check a contractor's license number online. Get three references from each bidder and review their work in person if possible. Get at least three bids. Make sure all project expectations are in writing and only sign the contract if you completely understand the terms. Confirm the contractor has workers compensation insurance.…Details