senior reverse mortgage

Word To The Wise: Reverse Mortgages - A Blessing or Curse?

by E.A. Roberts

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The credit crisis has reached epidemic proportions. Homes with adjustable rate mortgages are being foreclosed on, parents are now beginning to have difficulties obtaining student loans, and home equity loans are becoming the next serious trouble spot looming on the horizon. In consequence, the nation is now spiraling into a recession with the value in homes plummeting. Banks are tightening credit requirements, with everyone holding their breath to see how bad things are going to become.

Interestingly enough, home equity loans, also known as reverse mortgages, have become a recent hot topic of conversation locally. An article appeared in the March 27, 2008 Davis Enterprise, with the headline, “Are home equity loans next round in credit crisis?”. Yet paid advertisements on the subject have been materializing within the pages of the same newspaper, with the caption, “Yolo County Seniors Discover Simple New Way to Solve Nagging Money Problems!” By the way, the words “Paid Advertisement” appear in very small print at the top of these ads, which many seniors would have difficulty reading.

What is a home equity loan, also called a reverse mortgage? It is a loan against a home that does not have to be paid back for as long as the owner lives in it. With a reverse mortgage, the value of the house can be converted into cash without having to sell and move out or repay the loan. The owner taps into whatever “equity” has built up in the home over time. The cash received from a reverse mortgage can be paid out by the lender (mortgage lender, bank, credit union, or savings & loan association) to the recipient in several ways: all at once in a lump sum (which can be used to pay off an existing mortgage; or an annuity can be purchased); regular monthly cash advances:...

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Reverse Mortgage Nationwide (reversemortgages)

http://www.SeniorNetworkNationwide.com Nationwide Reversemortgage reverse mortgage. Senior Lending Network Online May be now is the time to ...

senior reverse mortgage News



Funding Senior Living In An Economic Downturn
Wall Street Journal - 12 hours ago
A reverse mortgage is another option. Reverse mortgages enable home owners aged 62 or older, who own their home outright or have a small mortgage balance,

: Government Insured Reverse Mortgage Program for Home Purchase
NewsReleaseWire.com (press release) - 14 hours ago
Effective January 1st, FHA Reverse Mortgage Lenders are now able to finance the purchase of a senior’s new home with a HUD insured Reverse Mortgage.

Reverse mortgage loan: what is it all about?
Hindu, India - Jan 4, 2009
Where does a senior citizen go for such a loan? Reverse mortgage loans are to be extended by primary lending institutions. These are scheduled banks,


The Money Times
FDIC Agrees to Sell IndyMac to Investor Group
Washington Post, United States - Jan 2, 2009
IndyMac's remaining value is in its network of 33 branches in the Los Angeles area, a profitable national business as a "reverse mortgage" lender helping
IndyMac Bank sold to IMB Management Holdings Los Angeles Times
all 749 news articles

Retirees no longer counting on home equity
MSNBC - Jan 4, 2009
Options include downsizing their home, selling assets, postponing retirement by working longer, and signing up for a reverse mortgage.

reverse mortgage Directory

Reverse Mortgages Senior Lending Network
Welcome to Senior Lending Network, the leading reverse mortgage educator and your home for all of your reverse mortgage needs.

SENIOR REVERSE MORTGAGE 1
SENIOR REVERSE MORTGAGE 1-800-817-8743. THIS IS AN F.H.A. GOVERNMENT PROGRAM! ... you will find FREE information about the popular Senior Reverse Mortgage Program. ...

Reverse Mortgages For Seniors - California, Roseville, Sacramento ...
... Reverse mortgage specialist offering a variety of products to suit seniors needs. ... Reverse Mortgages For Seniors - California, Roseville, Sacramento, ...

National Reverse Mortgage Lenders Association
National nonprofit trade association for financial services companies that originate, service, and invest in reverse mortgages, both in the United State and Canada.

Financial Freedom - Reverse Mortgage Loan Questions & Answers
Reverse Mortgage FAQ or frequently asked questions and answers ... A reverse mortgage is a loan that enables senior homeowners, age 62 and older, ...