Sentences with phrase «never owe»

And the FHA insurance guarantees borrowers that they will never owe more than the value of their home.

NRMLA explains to consumers that borrowers never lose ownership of the home, that HECM closing costs are comparable to other FHA mortgages, that borrowers never owe more than the value of the home, that having a conventional mortgage doesn't automatically disqualify them from getting a reverse mortgage, and that reverse mortgages are not a loan of last resort.

Mortgage insurance guarantees the homeowner will continue to receive benefits no matter what happens to the lender, and it guarantees they will never owe more than the value of the home.

With an FHA reverse mortgage you will never owe more than the value of your home, and your home is the only asset that can be used as collateral for the loan.

This means the borrower, or his or her estate, will never owe more than the loan balance or the value of the property, whichever is less.

By law, you can never owe more than your home's value at the time the loan is repaid.

With a FHA - insured3 reverse mortgage loan you'll never owe more than the appraised value of your home when the loan comes due, so long as the home is sold to repay the loan.

This means that you can never owe more than the value of your home at the time you or your heirs sell your home to repay your reverse mortgage.

When you are ready to sell, you pay back the loan and accumulated interest out of the sales proceeds, but you can never owe more than the market value of the home at that time.

Furthermore, the MIP guarantees that you will never owe more than the value of your home when the HECM must be repaid.

Insurance for HECM reverse mortgages guarantees borrower funds if the lender goes out of business and ensures the borrower will never owe more than the value of the home when sold.

Unlike a traditional loan, reverse mortgages are non-recourse, meaning that a borrower will never owe more than the value of their home — a comforting aspect of the loan in times when home values have declined.

While using the listing agent gives them an extra incentive to close the deal, they never owe any allegiance to you in any way, shape, or form.

The borrower or heirs can never owe more than the property is worth, and the lender can not touch any other assets, which is a huge plus.

You can never owe more on the loan than your homes value so you do not need to repay the loan as long as you maintain the home as your primary residence.

A reverse mortgage loan is «non-recourse», meaning that if you sell the home to repay the loan, you or your heirs will never owe more than the loan balance or the value of the property, whichever is less; and no assets other than the home must be used to repay the debt.

However, with the current estate tax exemption at $ 5.43 million, most estates will never owe an estate tax at the federal level.

Not only did we change our withholding in our paychecks so we would never owe money to the government again, we vowed to do our taxes to avoid paying someone $ 400 (or a lot more) for an hour of work.

You will never owe us a single cent for our time or our services.

If we are not successful with your personal injury claim and you do not receive compensation from your claim, you will not owe our personal injury lawyers a single cent and you will never owe us anything for our legal services at any time.

Our law firm takes these cases on contingency, meaning that if we do not win you compensation, you never owe us a single penny in attorney fees.

Because our funding takes the form of a non-recourse investment, you will never owe a dollar to investors if your case loses.

You will never owe us any fee until we secure compensation on your behalf.

But you can never owe more than what your home is worth at the time the loan is repaid.

That way I never owe them.

Mortgage insurance guarantees the homeowner will continue to receive benefits no matter what happens to the lender, and it guarantees they will never owe more than the value of the home.

This means the borrower, or his or her estate, will never owe more than the loan balance or the value of the property, whichever is less.

Plus, with a Reverse Mortgage you will never owe more than your home's value at the time the loan is repaid, even if the Reverse Mortgage lenders have paid you more money than the value of the home.

As long as you completely pay down the balance, you'll never owe a dime in interest.

That means you or your survivors will never owe more than what the home is worth.

And even though you will never owe more than the value of your home when the loan becomes due (upon your death or when you no longer live in it), keep in mind that home values have the potential to increase over time.

Recipients generally never owe income tax on the gifts.

When you retire, you can withdraw these funds tax - free to help fund your retirement.This means that you will never owe any capital gains taxes on your Roth IRA investments, nor will you dividends be taxed.

Insurance for HECM reverse mortgages guarantees borrower funds if the lender goes out of business and ensures the borrower will never owe more than the value of the home when sold.

This means that borrowers will never owe more than the value of the home, even if the loan balance ultimately exceeds the appraised value of the home.

This means that the mortgage holders will never owe more than the value of the home, as that value is appraised as part of the reverse mortgage process.

Furthermore, even though the borrower will never owe more than the value of that home, interest accrues throughout the life of the loan.

A federally - insured reverse mortgage comes with the benefit that you, the borrower, will receive loan payments as agreed upon by the terms of your loan, and will never owe more than your home is worth.

Regardless of what you owe when the loan becomes due as a result of your moving out of the home or passing, you or your heirs can never owe more than your home is worth on a bona fide sale.

However, as stated above, with a reverse mortgage, you will never owe more than the value of your house.

According to AARP, «HUD rules in place since 1989 clearly state that a borrower or heirs would never owe more than the home was worth at the time of repayment.

Even if the amount you borrowed eventually exceeds the value of your home, you or your heirs will never owe more than the value of your home.

A reverse mortgage is a type of loan known as a nonrecourse loan, which means that you can never owe more than the appraised value of the home.

However, a reverse mortgage is what is known as a nonrecourse loan, meaning you never owe more than the appraised value of the home.

Keep in mind that a reverse mortgage is a nonrecourse loan, meaning you never owe more than the appraised value of the home.

But the borrower can never owe more than the value of the home because the lender and mortgage insurance, private or governmental, would have to absorb the difference.

Remember, a reverse mortgage is a nonrecourse loan, meaning you never owe more than the appraised value of the home.

Additionally, all reverse mortgages are insured by the Federal Housing Administration (FHA) 4 and non-recourse, meaning the homeowner will never owe more than the value of the home loan.

That means you or your heirs will never owe more than your home is worth.

However, being that a reverse mortgage is a nonrecourse loan, you never owe more than the appraised value of the home.