You'll also get the loan within days rather than weeks or months, as in
the case of a traditional mortgage closing.
Not exact matches
But when the worst
case scenario turns out just slightly behind the
traditional method
of paying down your
mortgage before investing, it is mind blowing to think about what the best
case scenario or even a good
case scenario would bring.
The reverse
mortgage lien holder simply has a secured interest in your home as would be the
case with a
traditional mortgage or home equity line
of credit.
Many people don't want to tie up all
of their money in a house in
case they have unexpected expenses, like medical bills, but also don't want (or can't afford) to make a smaller down payment and get a
traditional mortgage.
Bajaj Allianz iSecure Loan is a
traditional online term insurance plan designed to cover loans or
mortgages availed by the policyholder thus ensuring peace
of mind in taking care
of the policyholder's liability even in
case of unfortunate death
These sorts
of mezzanine loans are often collateralized by the stock
of the development company rather than the developed property itself, as would be the
case with a
traditional mortgage.