When seniors think of the reverse mortgage loans, the main issues are not the loans, but the needs, which seniors have. The needs should dictate, how seniors will organize their financial situations and whether these loans fit to these plans and if yes, for which purposes they will be used.1. You Can Decide, How The Lender Will Pay You. The targets of these loans are to offer help to seniors in financial issues. The money for these needs comes...more
Even if a senior wants to get cash money with the reverse mortgage loan, this loan is always a long term decision. When a senior thinks, what is reverse mortgage, he has to think issues like the interest rates, especially if his loan will have a variable rate.1. A Senior Will Use The Equity, But The Equity Continues To Grow.This is a very important feature, when you think what is reverse mortgage. Despite of the fact, that the reverse mortgage...more
So you want to be wealthy... Who doesn't? Most people dream of having millions of dollars at their disposal, having top-of-the-line cars and gadgets, or eating at first class restaurants. But not everybody can actually put those dreams to reality. At least, not without the right wealth creation strategies.Dreaming of wealth, and actually planning on how to get wealth, are two very different things. A lot more people engage in the former; and only a few engage in the latter. If you really want to strike gold, you'd better prepare your wealth creation strategies. Luckily, this article can help you with that matter. Wealth Creation Strategy # 1: Start with Having a Millionaire Mindset.Having a millionaire mindset means programming yourself to achieve great things and receive unlimited abundance no matter what the situation. Most wealthy people have certain traits that allow them to simply sit back and allow wonderful things to happen to them. So what are some of these traits? Case one: Instead of being jealous of your neighbor's new car, be happy for them. Being jealous sends out the message that you don't think you'll ever be blessed with a new car. Case two:...more
Author: Lawren Smithi"The way to wealth is as plain as the way to the grocery store. It depends on two words, effort and frugality; that is, waste neither time nor money, but make the best of both. Without effort and frugality, nothing will do; with them everything" -- Franklin.Having wealth is really a state of mind. Few people get rich or acquire...more
Mortgage financing is the process of placing a mortgage on a house and lot or on a commercial property for the buyer of that property. The mortgage loan financing has two principal objectives.It can serve as a revenue-generating activity for the lender. It can also be used to refinance the mortgaged property to have more favorable terms of...more
In a bi-weekly mortgage, one half of a monthly payment is paid every two weeks. That means that in a year with 52 weeks, 26 bi-weekly installments are made. If each of those installments is one half of a monthly payment, 13 monthly payments have been made in 12 months, with that extra month being applied directly toward the principal.That is to say that, in just 12 years of paying on a loan, a homeowner will have made a years worth of extra payments, all being deducted from the principle amount. For homebuyers who can afford it, this option allows them to own their home outright much sooner and pay less in interest over the term of the loan. Existing mortgage holders must pay a fee to switch from a monthly plan to a biweekly, but the same effect can be easily achieved (as long as your lender does not charge a prepayment penalty) simply by putting half of your monthly payment, every two weeksmost likely paydayinto a special bank account from which you pay your mortgage. Then, each month, when you make your monthly payment, pay out the balance of that account. As an example, a standard 30-year mortgage fixed at 6% on $125,000 (excluding PMI and property tax), taken out on January...more
Author: Robert QuadraYou can retire wealthy within 4 years and enjoy your growing income along the way! Millions of people have accomplished this wonderful goal and you will too with the right plan.Skepticism and doubt is OK, but as you continue to...more
Author: Joffrey LongRefinancing to the wrong residential loan could cost you your home, ruin your credit and disrupt family. In an attempt to combat faulty lending practices, earlier this year, lawmakers passed the Secure and Fair Enforcement...more
Author: Alvin ClavinesBankruptcy can be difficult especially the long process that comes with it. But after the bankruptcy discharge has been issued, it is important to create good credit again for future purposes. You would want to boost your...more
Reverse mortgages have been around for a while and the Department of Housing and Urban Development (HUD) under the Federal Housing Administration (FHA) was one of the first to offer them.Before diving into the deep end of a reverse mortgage, you need...more
Just in case you have missed all of the positive press about it...the mortgage industry's quiet little secret is slowly becoming common knowledge, and a super hot subject at the water cooler.In spite of the fact that every effort has been made...more
Two weeks ago mortgage rates hit historic lows with the 30 year falling to 4.78. The next week they fell even further to 4.71. This week they rose back up to 4.81. Although they rose a tenth of a point the mortgage rates are still near historical...more