Sentences with phrase «equity mortgages o»
Counseling sessions are designed to: o inform borrowers of their rights and responsibilities o outline the alternatives to reverse equity mortgages o offer financial guidance to prospective borrowers • Interest rates: With federally insured reverse mortgages like FHA HECM, the borrower often has a choice of interest rates.
http://www.reversemortgagehelp.com/ Not exact matches
This should include the following information: o The interest rate to be charged and whether the rate is fixed, variable or both; o Interest accrues from the time monies are advanced to the borrower and the interest is compounded; o All reverse mortgage fees and costs that must be paid by the borrower; o A description of any refinancing features that have been discussed with the borrower; o Any events that could terminate the reverse mortgage such as death or moving from the residence; o A description of any shared appreciation or equity participation features; and o A toll - free telephone number and the name of a contact person who can answer any questions, comments or complaints that the borrower may have.