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What does the term equity release mortgage actually mean?
Equity release, in mortgage language, refers to the ability of an individual to obtain a sum of money relative to the value of one's house while retaining the house.
What does the term freedom mortgage mean?
Freedom Mortgage is not a just a term, but is actually a mortgage company. Freedom Mortgage Corporation is a private full-service mortgage lender that is licensed in all 50 states.
What are the benefits of refinancing your mortgage?
Refinancing your mortgage can lower your monthly payments, reduce your interest rate, shorten your loan term, and help you access equity in your home.
What is the term mortgage offset mean?
The term mortgage offset mean a flexible type of mortgage that allows one to reduce their rates and balance on loans and mortgage debts. This type of mortgage is uses more commonly in England.
What are the benefits of mortgage loan refinancing?
Mortgage loan refinancing can lower monthly payments, reduce interest rates, shorten the loan term, and provide access to cash through equity.
What do you mean by equity in finance?
Equity in finance refers to the residual value of assets. The term equity can also be used in association with accounting.
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.
What does a equity release plan refer to?
An equity release plan enables one with a mortgage to take cash from the equity of one's property. Before choosing this type of plan, one should understand both the short and long-term consequences to one's equity and overall financial worth.
What are the benefits of refinancing a mortgage?
Refinancing a mortgage can lower monthly payments, reduce interest rates, shorten the loan term, access equity, and consolidate debt, ultimately saving money in the long run.
What are the benefits of refinancing mortgage loans?
Refinancing mortgage loans can lower monthly payments, reduce interest rates, shorten the loan term, consolidate debt, and access equity for other financial needs.
What does the term bad debt mortgage mean?
The term 'bad debt mortgage' implies that the borrower has applied for a mortgage and been accepted. However, the borrower has then defaulted on his mortgage payments and it is considered that they are unlikely to be able to repay the loan.
What are the benefits of refinancing a mortgage loan?
Refinancing a mortgage loan can lower monthly payments, reduce interest rates, shorten the loan term, access equity, and consolidate debt, ultimately saving money in the long run.
