123ArticleOnline Logo
Welcome to 123ArticleOnline.com!

ALL >> Investing---Finance >> View Article

Fha Reverse Mortgage - The Facts

By Author: Joesph Ottosen
Total Articles: 2

Robert Griffin is also co-author of “62 Senior Moments. In a normal mortgage, the homeowner makes a monthly payment to their lender. While most consumers understand how interest rates impact traditional mortgage loans, many fail to understand the importance of reverse mortgage rates. Now this may come as a surprise but just because Uncle Sam is involved in your reverse mortgage doesn't mean it is a safe or a wise decision for you. But, if the estate does not demonstrate interest in selling the property or paying off the loan within a reasonable time after death of the last surviving mortgagor, the foreclosure should continue.

You are therefore liable for property taxes, insurance, utilities, maintenance, fuel and other expenses. Be sure to consider the alternatives before making a final decision. The borrower may only be required to repay the loan if he permanently dies or even sells his home. The only time gambling on house price inflation is expected to work is if the property is a buy-to-let, as you would be profiting on and covering the rent, and could then sell the property to repay the capital, another factor is that if interest rates are as low as they are at present, those on IOMs don't by and large realise they should be making further payments into the investment vehicle to make paying the lump sum off easier in the future. Regardless of how long it takes to repay the loan, the amount owed can typically not exceed the value of the home.

It is designed specifically so that a homeowner may remain in their home and cover their monthly necessities and expenses. There are no monthly payments to be made and you don't pay the mortgage back until you leave your home (i. The FHA and the Department of Housing and Urban Development have taken over the responsibility of administrating reverse mortgages. - The reverse mortgage loan does not come due until the borrower (or borrowers, if there is more than one) dies, sells the home, or moves out of the home. reverse mortgage


Investing / Finance Articles

1.
Revolutionary Mutual Fund Software Is A Great Source For Exquisite Performance Of Your Advisory Busi
Author: redvisiontech

2. Know About How Peer To Peer Lending Platform Works
Author: Loansninsurances

3. How To Get High Roi By Investing In Gold And Silver?
Author: Monica Sharma

4. Technical Analysis Course, A Necessity For Stock Market Trading
Author: Subrat Das

5. All You Need To Know About Understanding The Payment System Under Gst
Author: Neha Sharma

6. Steps To Get The Best Personal Loan Rate With This Tool
Author: Neha Sharma

7. The Ideal Remittance Guide You Should Refer To
Author: Neha Sharma

8. Make A Smart Money Transfer To India With These Tips
Author: Neha Sharma

9. Looking To Get An Optimum Result On Your Fd? Used The Fd Calculator
Author: Neha Sharma

10. Emi Vs Sip: Which Is The Better Options?
Author: Neha Sharma

11. Benefits Of Scheduling Future Transactions In Mutual Fund
Author: Neha Sharma

12. All You Need To Know About Online Tax Payments
Author: Neha Sharma

13. Do You Know The Benefits Of The Different Nri Accounts
Author: Neha Sharma

14. How To Enjoy Instant Credits Immediate Payment Service
Author: Neha Sharma

15. Angel Funding In India Is In High Demand
Author: Market Finance India

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: