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Tag Archive | "reverse mortgage"

Reverse Mortgages: Some Potential Reverse Mortgage Problems

Reverse mortgages are forms of equity release. In the USA, they are available to homeowners aged 62 or over who are living in the property concerned as their principal residence.  They can borrow money using the equity on their home as collateral. There is generally no fixed period on the loan, which is repaid when […]

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HECM Reverse Mortgage: How to Release Equity on Your Home

The HECM reverse mortgage is a means of using the cash that is tied up in the equity of your home. It is offered by HUD and the FHA. Before we go any further, it should be stressed that these are loans like most others and involve fees in setting them up and also monthly […]

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Reverse Mortgages: What is a Reverse Mortgage

Reverse mortgages are forms of equity release whereby homeowners over 62 years of age can utilize the equity in their home. They must be using their home as their primary residence. Also, the mortgage still owed, if any, must be sufficiently low to be covered by the proceeds of the reverse mortgage. It is a […]

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Home Equity Conversion Mortgage for Purchase Program

The Home Equity Conversion Mortgage “HECM for Purchase” Program can help senior buyers with a new home purchase. Baby boomers are the fastest growing demographic group in the US and they are changing the face of the reverse mortgage industry by selecting reverse mortgages in greater numbers than their elders. And now, this HECM Purchase […]

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Lakeland Bank offers Senior Outreach Program in Teaneck and Wyckoff

Workshops review reverse mortgages, bankruptcy laws, federal and state relief programs Seniors are experiencing many of the same hardships as the rest of the population during this time of economic uncertainty, and often do not know where to go for help. Lakeland Bank developed the Senior Solutions Workshop in conjunction with Intercounty Mortgage, as a […]

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