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| − | Reverse mortgages are becoming incredibly well-liked with seniors in California considering that the U.S. Division of Housing and Urban Development (HUD) produced one particular of the first.
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| − | A California reverse home mortgage allows older Americans to supplement social safety, meet unexpected health-related expenses, make property improvements, and more.
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| − | A reverse mortgage permits the homeowner to convert a portion of the residence equity into cash. Unlike a standard residence equity loan (HELOC) or second mortgage, repayment is not required until the borrower no longer utilizes the house as a principal residence.
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| − | To be eligible the borrower need to be at least 62 years old personal the house and have a low mortgage balance that can be paid off at closing with proceeds from the California reverse mortgage loan, and need to live in the home.
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| − | With a standard second mortgage loan, or a California house equity line of credit (HELOC), there must be enough revenue versus debt ratio to qualify for the loan, and monthly mortgage payments are needed.
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| − | The California reverse mortgage loan is distinct in that it pays the homeowner, and is accessible regardless of existing earnings.
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| − | The reverse mortgage loan amount depends on borrower's age, present interest rate, other loan costs, and the appraisal value.
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| − | The loan is not repayable as lengthy as one particular of the borrowers continues to reside in the property and keeps the taxes and insurance existing.
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| − | If the house is sold or no longer employed as a primary residence, the homeowner or the estate repays the reverse mortgage, plus interest and other costs, to the reverse mortgage lender.
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| − | The remaining home equity belongs to homeowner or heirs. No other assets will be affected by a California reverse mortgage loan and the debt will by no means be passed along to the estate or heirs.
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| − | For far more data on a California reverse home mortgage loan get in touch with Goldmedalmortgage.com at 866 398 4664 or go to < [http://www.prnewswire.com/news-releases/generation-mortgage-refutes-top-10-reverse-mortgage-myths-82052372.html look into top 10 reverse mortgage companies] [http://www.bbb.org/atlanta/business-reviews/mortgage-brokers/generation-mortgage-company-in-atlanta-ga-27254866 a guide to report mortgage company] [http://www.youtube.com/user/generationmortgageco?feature=results_main buy reverse mortgage company]
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Nuvarande version från 27 oktober 2012 kl. 21.24
