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The meaning of reverse mortgage (lifetime mortgage) is when a senior citizen who owns a home wants to convert the equity in their home to monthly income or some sort of line or credit.
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What is the definition of a VA mortgage loan?
The definition of a VA mortgage loan is a loan that is guaranteed by the Veterans Administration. The purpose of this loan is to assist veterans and their families in obtaining home financing.
What is definition of a chronological resume?
A resume that spotlights the jobs an applicant has held listed in reverse order.
What is the definition of a remortgage deal?
Remortgage is the same as refinance. It entails paying off one mortgage using a second, but the second uses the same home as a security. It can get you a better interest rate on your mortgage, so you pay less over time.
What is the definition of unless otherwise?
Unless otherwise unless=unless Otherwise=reverse of what it is (reverse case from its original case) so if we are talking like, DON'T GO THERE UNLESS OTHERWISE it means DON'T GO THERE UNLESS OTHERWISE(IT IS REQUIRED TO DO)
What is the definition of a mortgage lead company?
Mortgage lead companies are a company that can provide real time internet mortgage leads. They also offer home equity and debt consolidation leads. The company can send real time leads to the users email address so they are able to pick the ones that you want. The user can also set filter so that only relevant leads are shown.
I am wondering what is the definition of a reverse mortgage?
The definition of reverse mortgage is when the bank takes out a loan based on your property. This is used for extending your mortgage beyond what it is now.
What is the definition of the reverse mortgage?
An arrangement in which a homeowner borrows against the equity in his/her home and receives regular monthly tax-free payments from the lender. also called reverse-annuity mortgage or home equity conversion mortgage.
Do you still have to pay monthly mortgage if you have a reverse mortgage?
No, the purpose of a reverse mortgage mortgage is to eliminate mortgage payments permanently.
What is a reverse mortgage lead?
A reverse mortgage lead is where you can get names of people that are interested in getting a reverse mortgage. These leads should already have been screened to meet the criteria for a reverse mortgage.
What are the reverse mortgage scams taking place today?
Yes, there are reverse mortgage scams, as well as regular mortgage scams. You need to be careful who does your reverse mortgage, so you do not get scammed
What is reverse equity mortgage?
a reverse equity mortgage usually refers to a reverse mortgage, also referred to as a HECM loan. (Home Equity Conversion Loan). The key difference between a regular mortgage and a reverse mortgage is that no monthly mortgage payments are due on a reverse mortgage. A reverse mortgage also does not have credit or income requirements because there are no payments due. Qualification is based on age- minimum age 62- the value of the home and its location.
What is new reverse mortgage and where can I learn about it?
You can not get a reverse mortgage if you already have a reverse mortgage in exsistence. If you do not have one you can go to a few places for help such as; rvmortgage.com and allrmc.com
Reverse Mortgage Calculator?
Reverse Mortgage Calculator Use this calculator to help determine the balance of a reverse mortgage. This calculator is specifically designed to show you how the outstanding balance of a reverse mortgage can rapidly grow over a period of time.
What is American reverse mortgage?
American reverse mortgage is when you borrow money based on the value of your house. A reverse mortgage has the option of being a lump sum or installments.
Where can you find a reverse mortgage calculator?
Reverse mortgage calculators can be found on line on most mortgage websites.There are hundreds of mortgage loan sites.& This calculator makes it easier to understand the reverse mortgage math and to let you see if this type of mortgage is best for you.
Where can I learn about liberty reverse mortgage?
You can learn about liberty reverse mortgage from any local tax consultant or by finding it on a website which deals specifically with liberty reverse mortgage.
Can you re-finance your reverse mortgage?
yes, you can refinance it to a regular mortgage, or if interest rates are lower you can streamline it to a new reverse mortgage.
