Archive for September, 2007
Reverse mortgage possible when title’s held in trust
Reverse mortgage possible when title’s held in trust, What lender requires before loan is recorded DEAR BOB: To avoid probate costs and delays when I pass on, I recently created a revocable living trust and deeded my condo title into it. I am 62 and plan to get a senior-citizen reverse mortgage in about eight [...]
Think twice before you get a reverse mortgage
Think twice before you get a reverse mortgage, Local banks and mortgage companies are pushing a unique mortgage loan that sounds more like you just won the lottery.Instead of making monthly payments, you receive monthly payments and you don’t have to pay it back until you sell you home. It’s called a reverse mortgage. But [...]
4 Tips You Should Know About Reverse Mortgages
4 Tips You Should Know About Reverse Mortgages, 1. What are Reverse Mortgages?Reverse Mortgages are a way to borrow against the equity in your home (the value of your home minus any debt you now have) in order to provide you with a tax-free income if you are 62 years of age or older. You [...]