Sentences with phrase «on reverse mortgages because»

I decided on a reverse mortgage because my case reverse were dwendling away and concerned about the future.

Not exact matches

I enjoy working with homeowners on the reverse mortgage program because it allows me to truly help assist them in finding a solution to a problem that causes them stress, and the sincere thankfulness they tell me they have for me is very rewarding.

However, in my opinion the best reason why this is a more attractive option is because you are not required to make monthly payments on a Reverse Mortgage.

The math on those reverse mortgages is scary, mainly because payments aren't made so the amount owing only gets bigger and bigger.

Equity taken out via a reverse mortgage is taken tax - free, keeps investments intact and because there are no monthly payments, won't have an impact on day - to - day cash flow.

In this case, HUD would guarantee the Lender's loss on the loan because the Reverse Mortgage is a Federally Insured Program.

There are no data on how many heirs are facing foreclosure because of reverse mortgages.

Because of the recent surge in reverse mortgage loan popularity, many seniors are jumping on the reverse mortgage bandwagon.

In addition, because this option relies on purchases instead of fluid money, individuals who choose a reverse mortgage with a line of credit will not lose their Medicaid privileges.

Extra insurance on reverse mortgages is unnecessary because the vast majority of the reverse mortgage loans, about 90 %, are federally insured by the FHA, or the Federal Housing Administration.

Without taking a position on his appointment, we want to clarify false impressions about reverse mortgage foreclosures because they are unfair to Mnuchin, the industry and the reputation of this loan product that more than 1 million homeowners have used to age in place.

Because you don't have to repay it as long as you remain in your home, a reverse mortgage can be a useful financial tool for retirees on a limited or fixed income.

Because proceeds from a reverse mortgage aren't taxable income, they'll have no effect on Social Security or Medicare benefits.

However, because the changes were made to bolster the financial stability of the HECM program, they are expected to produce a positive effect on the reverse mortgage market in the long term.

Today, the numbers are reversed because it takes two workers in a family to pay the mortgage, buy the food, and keep things on an even keep.

However, if an individual on Medicaid were to receive a lump sum of $ 6,500 from his / her reverse mortgage loan and spend only $ 4,000 of it in the month in which it was received, putting the remaining amount ($ 2,500) in the bank, then he / she would no longer be eligible to receive Medicaid because after 30 days the $ 2,500 would become an asset and exceed the eligibility requirements.

Because the reverse mortgage is calculated with a formula based on age and the equitable interest in the home and not on credit score and income, the buyer was a good candidate.

Because there are no payments made by the borrower during the life of a reverse mortgage, interest is not paid on a current basis.

However, because the changes were made to bolster the financial stability of the HECM program, they are expected to produce a positive effect on the reverse mortgage market in the long term.

Reverse mortgages can sting lenders and guarantors because they depend so heavily on home prices for repayment.

Income: You don't need income to qualify for a reverse mortgage because you're not required to make payments on the loan.