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What else can I help you with?
Are any disreputable companies involved with reverse mortgages?
Yes, there are many disreputable companies who are involved in giving reverse mortgages. They prey on the seniors and overcharge them. Most good financial planners will not recommend reverse mortgages. They aren't, in general, a good idea. Some mortgage brokers are pushing them because they are very financially beneficial for the lenders. There are also many reputable lenders involved in giving out reverse mortgages, so buyers should beware. Do your homework on the company and on the mortage itself. There's no need to rush into things when something as important as your home is involved. Mortgages are normally the biggest financial risk most people make, so educate yourself beforehand.
How does an AARP Reverse Mortgage Calculator help seniors?
For varying proportions of seniors, managing a mortgage or reverse mortgage can become understandably complex. The AARP Reverse Mortgage Calculator simplifies the process to make it more palatable to seniors.
Are there resources for comparing reverse mortgages?
This is an excellent idea as it will free you up from a mortgage payment and give you some extra money. A great place to look for rates is www.OneReverseMortgage.com.
When is it a good idea to go with a self certified mortgage?
Self certified mortgages are a good idea if you know how much money you will be making and can honestly know that you have enough of a down payment and enough income to make the payments, otherwise this could get you into trouble.
Are second mortgages a good idea for people struggling with finances?
Second mortgages are usually taken out by people who need a little extra money to get by with bills or a little cushion in savings. Its only advised to take out a second mortgage if the money is desperately needed.
Are interest only mortgages a good idea?
No, why would you want to pay for interest only on a mortgage and not the principle. In order to pay the mortgage off you have to pay on the principle.
How does one get a self build mortgage?
For a great mortgage it is a good idea to go into your local financial institutions and speak with a rep who deals with mortgages. Ask lots of questions, take a note book and compare a number of offered mortgages before signing the dotted line.
Is getting a reverse mortgage a good idea?
A reverse mortgage is for older individuals to borrow against their homes. This allows them to not have to sell there home and the bank to make monthly payments to the owner.
What are the best feature phone models for seniors without all the extras of a smartphone?
It might be a good idea to check out AARP. They rate different services for seniors and tell you which ones they prefer and the pros and cons. You do not need a subscription to AARP for this information. Best Buy and Walmart can also help you choose a good senior package.
When is seniors' day at the Bay?
first Monday of the month
Are home mortgages a good idea?
Yes they are, i would think so as many home owners have them, it is a long term investment but it is worth the while, owning your own home is better than renting.
What is a reverse mortgage loan, and where can I get one?
A reverse mortgage is a type of (lifetime morage) for people the ages of 62 and over. It allows the homeowner to access a portion of their equity. I was always told it wasent a good idea.
