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Where can one find information regarding senior reverse mortgages?
Wiki User
∙ 10y ago
The best place to find information about senior reverse mortgages is to contact your local bank or credit union. If one wants additional information the HUD website provides detailed information about senior reverse mortgages.
Wiki User
∙ 10y ago
One can find information regarding senior reverse mortgages from various sources such as government websites, financial institutions that offer reverse mortgage products, and reputable non-profit organizations that provide guidance on retirement planning and senior finances. Additionally, speaking with a qualified mortgage specialist or financial advisor can also provide valuable information and guidance on senior reverse mortgages.
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Can a guardian for a senior take out a reverse mortgage loan?
Yes, a guardian for a senior can take out a reverse mortgage loan on behalf of the senior if they have legal authority to act on their behalf. The decision should be made in the best interest of the senior and with consideration for their financial well-being. It's important to consult with legal and financial professionals before proceeding.
Where can one find information on senior apartments?
You can find information on senior apartments by searching online, contacting local real estate agents specializing in senior housing, visiting senior living websites, or reaching out to local senior centers or community organizations for recommendations. Additionally, sites like A Place for Mom or SeniorHousingNet can also be helpful resources.
How do I find out application acception time periods for Senior housing ?
To find out application acceptance time periods for senior housing, you can reach out directly to the housing facility or organization managing the senior housing. They will be able to provide you with information on when applications are accepted and any deadlines for applying. Additionally, you can check their website or contact local housing authorities for more information.
Reverse mortgage senior citizens?
A reverse mortgage is a financial product available to senior citizens that allows them to borrow against the equity in their homes. Unlike a traditional mortgage, with a reverse mortgage, borrowers do not have to make monthly mortgage payments. Instead, loan proceeds are typically distributed to the borrower in the form of a lump sum, monthly payments, or a line of credit. The loan is repaid when the borrower sells the home, moves out of the home, or passes away.
Where could one find out about subsidized senior housing?
You can find information about subsidized senior housing through local government housing agencies, area agencies on aging, nonprofit organizations that focus on senior services, or by checking online resources such as HUD's website or the National Affordable Housing Management Association.
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.
Are reverse mortgages insured by the government?
Most Reverse Mortgages, often known as Senior Reverse Mortgages, are in fact insured by the FHA branch of the US Government. They are also regulated buy HUD, another branch of the Government. The insurance is in place to insure that you will not owe more in interest and loan fees that the value of your home, which serves as collateral for the loan. When talking to a Reverse Mortgage Service, or other lender, ask about the Home Equity Conversion Mortgage, know as the HECM Reverse Mortgage. It is the most popular, and is 100% insured by the US government.
Where can you find information on senior travel clubs?
A lot of information is available on the web regarding senior travel clubs. One place that you will find helpful is at www.suddenlysenior.com/TRAVELPAGE.html
Where can I find a great senior living apartment in my area?
I would visit www.SeniorOutlook.com for a great list of reviews and information regarding senior communities.
What is the purpose of a senior equity loan?
Senior equity loans, also known as reverse mortgages, provide the homeowner with a regularly cashflow in exchange for giving the lender a share in the equity of the home. These are typically used by seniors who are in need of money and are willing to give up a portion of their home equity.
Is there any senior traveling discount for cruising?
If you check your local senior citizens center message board, you'll probably find information regarding cruises. Another source would be your elderly neighbors.
Where can I find info on caregiving for the elderly?
THE BEST PLACE TO FIND OUT INFORMATION REGARDING SENIOR CITIZEN ISSUES IS WWW.ARPHEALTHCARE.COM. I HAVE USED THIS SITE MANY TIMES, AND IT HAS ANSWERED ALOT OF MY QUESTIONS REGARDING MY ELDERLY PARENTS.
Where can I find general information regarding Seniors, as well as comparison cost for nursing homes and different nursing home amenities?
General information regarding Senior nursing homes and be found online. There are a variety to choose from depending on your area. Cost and facility will vary depending on your location.
Who should you talk to in order to get information on a reverse mortgage?
In order to aquire information about a reverse mortgage you may speak to a loan officer at your bank. A person must also be a senior citizen of at least 62 and own their home before even thinking about talking to smeone about a revrse mortgage.
Where online can I get information regarding assisted living for seniors?
There are many resources online that provide information on assisted living for seniors. Some valuable resources include New Lifestyles and Senior Guide Online.
Where is information on single senior citizen traveling?
I am a Senior looking to do some traveling. Where can I find information on traveling for senior singles?
What are the advantages of reverse parking sensors?
There are many different advantages of reverse parking spots available to senior citizens. As senior citizens often have a difficult time backing out, this can help reduce accidents.
