Choosing a reverse mortgage: fixed vs. adjustable

Choosing a reverse mortgage: fixed vs. adjustable FHA-insured reverse mortgages, called Home Equity Conversion Mortgages (HECMs), can be a life-saver for elderly homeowners short of income. While aftershocks from the financial crisis have caused the amounts that homeowners can draw under the program to be reduced, borrowers now have more options than they had before …

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How long will you be underwater?

How long will you be underwater? About 16 million homeowners owe more on their mortgage than their homes are worth, which means they are “underwater.” So long as that condition continues, they have no equity that can be used to help finance the purchase of another house. On the contrary, they can’t sell the house …

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How long will you be underwater?

Are you an underwater homeowner?  It’s a trying situation to be in, and made worse by not knowing how long you will be in that position. Jack Guttentag wrote a great article on the topic, published on Inman News. Roughly 16 million owners are underwater; owing more on their mortgage than their homes are currently …

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Why should you get a 15-year mortgage?

Benefits of 15-year mortgage hard to beat Why those lured by smaller payments on 30-year loan should reconsider By Jack Guttentag, Monday, April 30, 2012. Inman News® The case for 15-year fixed-rate mortgages has never been stronger because, in the post-crisis market, the rate advantage over the 30-year has never been larger. The rate advantage …

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