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What else can I help you with?
Where can i find a bank that does reverse mortgages for seniors ?
You can go to http://www.bestreversemortgage.com/ to find information on what banks do reverse mortgages for senions. This site also gives a lot of information regard reverse mortgages and the fraud that is being targeted towards seniors.
Where can I find information on reverse mortgages for seniors?
The US Department of Housing and Urban Development (HUD) has a web page on reverse mortgages for seniors and is a good place to begin learning about the advantages and disadvantages of such mortgages. See http://www.hud.gov/buying/rvrsmort.cfm to begin your research.
Where can I obtain information about reverse mortgages for seniors?
www.hud.gov/buying/rvrsmort.cfm has the best info
Have senior citizens been warned of reverse mortgages?
For some seniors especially those who live in high priced neighborhoods, reverse mortgages are a great way to spend their final years living in comfort. However, there are a lot of scams and the AARP cautions seniors to be aware of them.
What do you need to know about reverse mortgages for seniors?
Reverse mortgages are loans for homeowners aged 62 or older that allow them to convert a portion of their home equity into cash. Seniors should carefully consider the fees, interest rates, and long-term implications of a reverse mortgage before deciding to proceed. It's important to consult with a financial advisor or housing counselor to fully understand the terms and potential risks involved.
What are the benefits of late life mortgages for seniors looking to access equity in their homes?
Late life mortgages, also known as reverse mortgages, offer seniors the benefit of accessing the equity in their homes without having to make monthly payments. This can provide financial flexibility and supplement retirement income. Additionally, late life mortgages can help seniors stay in their homes longer and maintain their independence.
What are the benefits of reverse mortgages for seniors?
The primary benefit of a reverse mortgage is using the equity built up within your home without ever having to repay it back.
Is reverse mortgage only for seniors?
Yes, according to the US Department of Housing and Urban Development's website, the Federal Housing Administration requires that you must be 62 years old or older and a homeowner to apply for a reverse mortgage. These types of mortgages are only available for seniors.
Who may wish to take advantage of the HECM reverse mortgage?
The term HECM means Home Equity Conversion Mortgage. Unlike other reverse mortgages the HECM is a reverse mortgage for seniors that follows all of the guidelines of FHA and HUD.
Does AARP offer a reverse mortgage to seniors?
Yes, AARP does, in fact, offer a reverse mortgage to seniors. You must be atleast 62 years of age and own your home to get a reverse mortgage with AARP as well as most other places that offer them.
Does the company Wells Fargo offer reverse mortgages?
Wells Fargo does not offer reverse mortgages. As of June 2011 they released a news segment saying they will no longer offer reverse mortgages. Being one of the leading in reverse mortgages previously it is strange to see why.
Does the bank pay for ads for reverse mortgages?
Yes. If the bank advertises reverse mortgages it must pay for the advertising.
