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Reverse Mortgage Facts: Top 10 Things to Know

If you’re concerned about having the funds to sustain a comfortable retirement, a reverse mortgage can support the lifestyle you’ve worked so hard to achieve. Some people take out home equity loans, but a reverse mortgage can help retirees generate extra money or reduce their

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Leveraging a Reverse Mortgage as a Tax-savvy Retirement Savings Tool RETIREMENT NEWS To retire comfortably, more and more retirees are considering the benefits of a reverse mortgage loan. This financial tool was designed exclusively for older homeowners to convert a portion of your home equity

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How PACE Loans Work

The Pros and Cons of PACE Funding Saving water and energy is beneficial for the environment and can result in lower utility costs for you. But major upgrades like drought-resistant landscaping and solar panels can be costly. So, how can you make sustainable upgrades without

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RETIREMENT PLANNING, REVERSE MORTGAGE FACTS Do My Parents Need a Reverse Mortgage? Most likely, you’ve heard lots of negatives about reverse mortgages for parents. Between the local paper, evening news and those late-night commercials, the information presented really does impact people’s perceptions of the product.

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A reverse mortgage as a financial planning tool

Reverse mortgages, which reportedly have been in use since Deering Savings & Loan issued one to Nellie Young of Portland, Maine, in 1961, have long been viewed with suspicion. Evoking images of late-night infomercials and disreputable loan agencies, the reverse mortgage is the product of

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Reverse Mortgage Myth Busting – Uncover the Truths!

Reverse mortgages are a financial product that have gotten a lot of bad press over the years, leaving many people who could potentially benefit from this type of loan with negative or problematic associations. What’s the real problem with the Reverse Mortgage? Is it really

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Reverse Mortgage Fees

Closing Costs The three largest closing costs are the FHA mortgage insurance, the origination fee, and escrow fees. However, the only cost that is typically paid out of pocket is counseling. FHA Upfront Mortgage Insurance Premium (UFMIP) One of the requirements for FHA insurance is

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REVERSE MORTGAGE FACTS Common Reverse Mortgage Myths & Misconceptions If you’re a homeowner or homebuyer age 55 or older, reverse mortgage solutions can help you enjoy greater financial flexibility — whether you’re in retirement or still working. reverse mortgage myths and misconceptions are all too

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The Ins and Outs of Seller and Buyer Credits

Buyers find out very early in the home-buying process that the cost of buying a home goes far beyond just the purchase price of the home. Lender fees, appraisal costs and title fees quickly add up for a buyer. To help surmount these closing costs,

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Save Money by Restructuring Your Mortgage

The cost of having a mortgage is the interest you pay on the principal over the life of the loan. If you are current on your mortgage, restructuring your loan can potentially save you thousands of dollars in mortgage interest. An easy way to reduce

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Navigating Mortgages for Self-Employed Buyers

When your buyers are self-employed and want to buy a home, they will go through the same qualifying process as everyone else, with a few exceptions. Lenders will be evaluating their credit scores, amount of debt, and assets and income. Your self-employed buyers will need

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How to Ensure Your Mortgage Will Be Approved

In these days of ever-watchful lenders, you, as a consumer, can put yourself in the best possible position to be approved for a mortgage by taking a few simple common-sense steps before you start your home search. The first step is ensuring you are paying

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Here’s How Your Credit Score Is Calculated

Your credit score is the most important factor in determining if you qualify for a loan. It is also crucial in shaping the terms of your loan. A credit score is a three-digit number that a lender uses to decide how trustworthy you are when

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Myths of Reverse Mortgages

There are 8 common myths about reverse mortgages: Lenders are not in the business of owning homes — they wish to make loans and earn interest. The homeowner keeps the title to the home in their name. What the lender does is add a lien

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How to Win Big in Today’s Economy

The altered economic landscape presents innovative and nimble businesses with opportunities for capturing the attention of new groups of customers and discovering more efficient methods of operation. By achieving these goals now, businesses are able not only to survive the present but to thrive when

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Is Title Insurance Necessary for a Home Purchase?

A home purchase is one of the biggest investments you can make so adding a layer of protection against property ownership issues makes sense. That’s where title insurance comes in. As a quick refresher, a “title” serves as proof that you are the owner with

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