pros and cons Archive

Reverse Mortgage Disadvantages
March 27, 2012
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Reverse Mortgage Disadvantages

A reverse mortgage can be an extremely beneficial retirement tool for people who are 62 and older and want to tap into a portion of the equity in their home as a way to achieve financial security. As long as you have enough equity in your home, it is not difficult to qualify for a […]

Other Reverse Mortgage Options and Financial Options
December 10, 2011
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Other Reverse Mortgage Options and Financial Options

In the current economic climate if you are an older homeowner having problems paying bills you may think your choices are limited. However there are a number of options available which can provide financial relief and peace of mind. Of course there is the reverse mortgage option which is what this site specializes in discussing […]

Importance of Reverse Mortgage Counselors
August 9, 2011
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Importance of Reverse Mortgage Counselors

There is a vast amount of information available on reverse mortgages. When making a decision as big as this one, it is no wonder that many people do their homework. Researching reverse mortgages is good preparation for a required HECM counseling appointment.  FHA funds housing counseling agencies nationwide to provide borrowers with information on reverse […]

Despite Banks Abandoning The Sale Of Reverse Mortgages They Are Still A Viable Option
July 1, 2011
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Despite Banks Abandoning The Sale Of Reverse Mortgages They Are Still A Viable Option

Within less than a year both Bank of America and now Wells Fargo have exited reverse mortgage market.  The reasons for the departures may have more to do with infrastructure set-ups, being able to achieve profitability, and getting in compliance with changing regulations from the Department of Housing and Urban Development (HUD) than with the product […]

Reverse Mortgage News – Wells Fargo and Bank of America Exit
June 17, 2011
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Reverse Mortgage News – Wells Fargo and Bank of America Exit

Wells Fargo announced yesterday that they are exiting the reverse mortgage business, after more than 20 years of offering reverse mortgages.  While it may not have been the shot heard around the world, it is interesting that Wells Fargo is not alone.  Bank of America announced their exit from the reverse mortgage business in February […]

Are Reverse Mortgages A Good Idea For Retirement?
June 9, 2011
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Are Reverse Mortgages A Good Idea For Retirement?

During your pre-retirement years, it’s important to keep your spending and savings habits in check.  When this isn’t enough, a Reverse Mortgage might be right for you. One large problem facing retirees is the realization that the budget that was working for their first 10 years of retirement may not cover costs going into their […]

Pros and Cons of Reverse Mortgage
May 20, 2011
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Pros and Cons of Reverse Mortgage

CNN Money gave brief plus and minus analysis of reverse mortgages earlier this month (see video below).   View the CNN Money Help Desk segment. While the segment was insightful it was not very detailed in its analysis. So below we’ve provided you a more thorough list of reverse mortgage pros and cons. Pros • […]

A Reverse Mortgage Loan Helps Extend The Value of Your Assets
May 6, 2011
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A Reverse Mortgage Loan Helps Extend The Value of Your Assets

With older homeowners struggling to find the best way to cover their costs in a down economy, many are left with the decision of whether to sell stock or utilize a reverse mortgage loan. Suze Orman recently gave advice regarding a homeowner facing this particular dilemma and had ascribed to the theory that it’s better […]

Home Equity Line of Credit and How it Relates to Reverse Mortgages
March 25, 2011
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Home Equity Line of Credit and How it Relates to Reverse Mortgages

The financial landscape has changed quite a bit from what it was 20 years ago. People are living longer, exiting the workforce later, and not receiving as much proportionally from Social Security as individuals have in the past. The Centers for Disease Control and Prevention has reported that life expectancy rose to 78.2 years in 2009, […]

Reverse Mortgage Solutions Grow In Popularity And Improve Image
March 2, 2011
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Reverse Mortgage Solutions Grow In Popularity And Improve Image

In the late 80’s, mortgage brokers steered clear of the reverse mortgage solutions due to the perception that it was confusing, expensive, and risky. The consumer advocate and radio personality Clark Howard still remains somewhat skeptical of reverse mortgages but actually refers to this site in order to differentiate the pros and cons of reverse […]