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What else can I help you with?
How do you pay back Reverse mortgage?
A reverse mortgage, also known as a Home Equity Conversion Mortgage (HECM) is a relatively new product. A reverse mortgage is a loan against the equity in your home that you don't need to pay back for as long as you live in the home.
How long does a lender have to repossess?
I am 3 months behind on my mortgage? How long until they repo my home?
How long does it take to get a wells Fargo home mortgage?
A wells fargo home mortgage can take up to anywhere between one hour to three days. It is not a long process, depending on which way you apply for the loan. It's not a long process.
If you are a cosigner on a car loan and the bank reposses how long is your credit affected?
Seven years.
What is the difference between a reverse mortgage and a regular home equity loan?
A reverse mortgage is a home loan taken out by a senior home owner that requires no loan payments for as long as the borrower remains living in the house.
Can you obtain a home equity loan on a family home that does not have a mortgage?
Yes, as long as you have a good enough credit rating to qualify for the mortgage.Yes, as long as you have a good enough credit rating to qualify for the mortgage.Yes, as long as you have a good enough credit rating to qualify for the mortgage.Yes, as long as you have a good enough credit rating to qualify for the mortgage.
What happens to a home mortgage if the co-signer does not file bankruptcy but has credit problems?
It will have no affect on the mortgage as long as the lending terms are met by the primary borrower.
How long are you required to have mortgage insurance?
You will need mortgage insurance as long as you still have a balance to pay on your mortgage, so in essence for as long as you have a mortgage.
What should one know before they refinance a home?
Before a homeowner refinances a home, they should consider how much less a mortgage payment will be after a refinance. They should also consider the differences between a fixed rate mortgage and an ARM mortgage rate. These factors can dictate how long it will take to repay a mortgage.
Who benefit from reverse mortgage?
{| |- | A reverse mortgage provides unique benefits for its target market: someone over 62 who lives in his/her primary residence, who has substantial equity in his/her home, and who has little or no income. A reverse mortgage is a loan against the equity in your home that you don't need to pay back for as long as you live in the home. |}
How long does the mortgage company have to give you before they can force you to leave your home?
They take you to court first
Why is buying a home a major life decision?
Buying a home is a major life decision because it is a loan or mortgage you are likely going to have for a very long time. Many mortgage terms last 20 to 30 years, and that is a long time to be committed to one investment.
