The mortgage crisis in 2009 was a very traumatic and financially challenging time. With it now behind us, many are looking to the future with high expectations of economic recovery and prosperity. That all sounds grand but there is still concern looming. A new group of Alt-A's and Option ARMs are to reset their rates soon, and the effect could be as staggering as 2009.
Wednesday, January 27, 2010
Monday, January 18, 2010
Reverse mortgages have several benefits if you are willing to look beyond the risks. There are different types to fit a host of needs and situations. These programs can be quite beneficial to homeowners aged 62 and over, in need of a lump sum of cash or a steady income over a period of time. Just bare in mind, a reverse mortgage is actually a loan against your property. Your loan amount, along with interest calculated over time, will be due at the end of the term. Everything works out fine, as long as the sale of the home can pay the reverse mortgage debt. Needless to say, careful consideration of needs and close review of loan documentation is highly recommended.