Comments on: Non-traditional Mortgages Could Save You Money–or pay you like a Reverse Mortgage http://www.retirement-income.net/blog/2009/01/02/non-traditional-mortgages-could-save-you-money-or-pay-you-like-a-reverse-mortgage/ Retirement Income, Retirement Investing and Retirement Planning Done Right Thu, 02 Sep 2010 18:39:26 +0000 http://wordpress.org/?v=2.6 By: net branch http://www.retirement-income.net/blog/2009/01/02/non-traditional-mortgages-could-save-you-money-or-pay-you-like-a-reverse-mortgage/#comment-6823 net branch Thu, 26 Aug 2010 04:33:53 +0000 http://www.retirement-income.net/blog/?p=463#comment-6823 A reverse mortgage really saved our bacon last year. If the numbers work and your in need then there is no better way to go. A reverse mortgage really saved our bacon last year. If the numbers work and your in need then there is no better way to go.

]]> By: Utility Warehouse http://www.retirement-income.net/blog/2009/01/02/non-traditional-mortgages-could-save-you-money-or-pay-you-like-a-reverse-mortgage/#comment-5878 Utility Warehouse Tue, 03 Aug 2010 09:13:03 +0000 http://www.retirement-income.net/blog/?p=463#comment-5878 Reverse mortgages are becoming popular in America. HUD's Federal Housing Administration (FHA) created one of the first. The Home Equity Conversion Mortgage (HECM) is FHA's reverse mortgage program which enables you to withdraw some of the equity in your home. The HECM is a safe plan that can give older Americans greater financial security. Many seniors use it to supplement social security, meet unexpected medical expenses, make home improvements and more. You can receive additional free information about reverse mortgages in general by contacting the National Council on Aging at (800) 510-0301 or downloading a free booklet, "Use Your Home to Stay at Home," a guide for older homeowners who need help now. Since your home is probably your largest single investment, it's smart to know more about reverse mortgages, and decide if one is right for you! Reverse mortgages are becoming popular in America. HUD’s Federal Housing Administration (FHA) created one of the first. The Home Equity Conversion Mortgage (HECM) is FHA’s reverse mortgage program which enables you to withdraw some of the equity in your home. The HECM is a safe plan that can give older Americans greater financial security. Many seniors use it to supplement social security, meet unexpected medical expenses, make home improvements and more. You can receive additional free information about reverse mortgages in general by contacting the National Council on Aging at (800) 510-0301 or downloading a free booklet, “Use Your Home to Stay at Home,” a guide for older homeowners who need help now. Since your home is probably your largest single investment, it’s smart to know more about reverse mortgages, and decide if one is right for you!

]]> By: edelyn@laptopcarmountstore http://www.retirement-income.net/blog/2009/01/02/non-traditional-mortgages-could-save-you-money-or-pay-you-like-a-reverse-mortgage/#comment-5058 edelyn@laptopcarmountstore Wed, 30 Jun 2010 07:38:10 +0000 http://www.retirement-income.net/blog/?p=463#comment-5058 Nice Post. It is really true, you can save Money–or pay you like a Reverse Mortgage. Nice Post. It is really true, you can save Money–or pay you like a Reverse Mortgage.

]]> By: Jim Jones http://www.retirement-income.net/blog/2009/01/02/non-traditional-mortgages-could-save-you-money-or-pay-you-like-a-reverse-mortgage/#comment-4893 Jim Jones Fri, 11 Jun 2010 20:34:33 +0000 http://www.retirement-income.net/blog/?p=463#comment-4893 I agree that it is at the discretion of the owner whether or not they execute a reverse mortgage deal, my only concern would unscrupulous LOs/brokerages that may mis-lead or omit certain details when pitching the product that could potentially devastate the consumer later down the road. I'm sure eventually we will get to the point where companies are forced to operate transparently, but until then, buyer beware... I agree that it is at the discretion of the owner whether or not they execute a reverse mortgage deal, my only concern would unscrupulous LOs/brokerages that may mis-lead or omit certain details when pitching the product that could potentially devastate the consumer later down the road. I’m sure eventually we will get to the point where companies are forced to operate transparently, but until then, buyer beware…

]]> By: Kids Rolling Suitcases http://www.retirement-income.net/blog/2009/01/02/non-traditional-mortgages-could-save-you-money-or-pay-you-like-a-reverse-mortgage/#comment-4678 Kids Rolling Suitcases Thu, 20 May 2010 04:09:31 +0000 http://www.retirement-income.net/blog/?p=463#comment-4678 It seems like these reverse mortgages are becoming more mainstream because I am beginning to hear a lot more about them, and even seeing commercials on TV for them. I was listening to a financial advice radio show the other day when someone called into ask advice on a reverse mortgage, the host said that it really depends on your individual situation, but for some people they could really provide some benefit. I'm not all that familiar with those other types though, except for the interest only mortgages, I know those were very popular during the real estate boom. It seems like these reverse mortgages are becoming more mainstream because I am beginning to hear a lot more about them, and even seeing commercials on TV for them. I was listening to a financial advice radio show the other day when someone called into ask advice on a reverse mortgage, the host said that it really depends on your individual situation, but for some people they could really provide some benefit. I’m not all that familiar with those other types though, except for the interest only mortgages, I know those were very popular during the real estate boom.

]]> By: weber gas grills on sale http://www.retirement-income.net/blog/2009/01/02/non-traditional-mortgages-could-save-you-money-or-pay-you-like-a-reverse-mortgage/#comment-4593 weber gas grills on sale Thu, 06 May 2010 15:04:19 +0000 http://www.retirement-income.net/blog/?p=463#comment-4593 Reverse mortgages are happening all the time. I think seniors are entitled to do what they want with their equity. They have after all worked all their lives to generate the savings. Reverse mortgages are happening all the time. I think seniors are entitled to do what they want with their equity. They have after all worked all their lives to generate the savings.

]]> By: Ross http://www.retirement-income.net/blog/2009/01/02/non-traditional-mortgages-could-save-you-money-or-pay-you-like-a-reverse-mortgage/#comment-4336 Ross Tue, 23 Mar 2010 11:39:34 +0000 http://www.retirement-income.net/blog/?p=463#comment-4336 Interesting post. However on the topic of reverse mortgages retired people need to think long & hard. I know of several retired couples who took out reverse mortgages. Their circumstances changed and they needed to change their accommodation only to discover that the original principal plus interest accrued had grown so much over a number of years that they were stuck. Insufficient funds would have been left to purchase the newer accommodation by the time the reverse mortgage was paid out. No doubt a reverse mortgage may suit some people. However once committed there is not much room to turn back. Interesting post. However on the topic of reverse mortgages retired people need to think long & hard. I know of several retired couples who took out reverse mortgages. Their circumstances changed and they needed to change their accommodation only to discover that the original principal plus interest accrued had grown so much over a number of years that they were stuck. Insufficient funds would have been left to purchase the newer accommodation by the time the reverse mortgage was paid out.

No doubt a reverse mortgage may suit some people. However once committed there is not much room to turn back.

]]> By: quick mortgage http://www.retirement-income.net/blog/2009/01/02/non-traditional-mortgages-could-save-you-money-or-pay-you-like-a-reverse-mortgage/#comment-4138 quick mortgage Tue, 02 Mar 2010 11:52:10 +0000 http://www.retirement-income.net/blog/?p=463#comment-4138 with people wanting bigger more expensive properties people are risking going away from traditional mortgages and quite a few people have paid the price and lucked out. If you can’t get a traditional mortgage then these other options are there but as a consumer you have to make sure you can pay the monthly repayments and watch the interest rates as depending on what you got could change. with people wanting bigger more expensive properties people are risking going away from traditional mortgages and quite a few people have paid the price and lucked out. If you can’t get a traditional mortgage then these other options are there but as a consumer you have to make sure you can pay the monthly repayments and watch the interest rates as depending on what you got could change.

]]> By: Houston Mortgage http://www.retirement-income.net/blog/2009/01/02/non-traditional-mortgages-could-save-you-money-or-pay-you-like-a-reverse-mortgage/#comment-3971 Houston Mortgage Mon, 15 Feb 2010 20:00:36 +0000 http://www.retirement-income.net/blog/?p=463#comment-3971 Reverse mortgages are becoming more and more popular as seniors evaluate options to maintain their lifestyle. In my opinion, if they want to use up their equity and leave nothing to their kids, that's their perogative. I know that if my parents wanted a reverse mortgage, I wouldn't be upset, it's their home. Regards, Chad Reverse mortgages are becoming more and more popular as seniors evaluate options to maintain their lifestyle. In my opinion, if they want to use up their equity and leave nothing to their kids, that’s their perogative. I know that if my parents wanted a reverse mortgage, I wouldn’t be upset, it’s their home.

Regards,
Chad

]]> By: Johnv3210 http://www.retirement-income.net/blog/2009/01/02/non-traditional-mortgages-could-save-you-money-or-pay-you-like-a-reverse-mortgage/#comment-3279 Johnv3210 Wed, 18 Nov 2009 08:19:58 +0000 http://www.retirement-income.net/blog/?p=463#comment-3279 I got a nice short overview of the options that are available, I hadnt put interest into it before, but find some new ways, new possibilities, I have a 30-year mortage on me btw. John I got a nice short overview of the options that are available, I hadnt put interest into it before, but find some new ways, new possibilities, I have a 30-year mortage on me btw.
John

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