Reverse Mortgages For Dummies

Download or read book Reverse Mortgages For Dummies written by Sarah Glendon Lyons and published by John Wiley & Sons. This book was released on 2011-01-11 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: For seniors who live on a fixed income, owning a home—and keeping it—can be financially challenging. Rather than face the choice of selling your home and moving or becoming a home-owning pauper, reverse mortgage products let seniors convert part of their equity into tax-free income that can be used for anything—even mortgage payments, living expenses, or medical costs. Reverse Mortgages For Dummies covers all the basics of reverse mortgage products so you and your adult children can understand and take full advantage of these handy loans—and keep the home you love. Covering a full range of reverse mortgage options and topics, you’ll discover how to: Decide if a reverse mortgage is right for you Shop for the best reverse mortgage products Find out if your home is eligible Find a counselor who can help you Written by Sarah Lyons, an Assistant Editor at Mortgage Originator magazine, and John Lucas, an experienced reverse mortgage specialist, Reverse Mortgages For Dummies explains these helpful loan products in simple, easy-to-understand language free of all the jargon. Once you understand how reverse mortgages differ from other loans—and what you could do with your reverse mortgage—the book covers the specifics you need to find the right loan for you, including: Special advice for adult children helping their senior parents secure a loan How to get a reverse mortgage and keep your second home legally Property requirements and financing fees Selecting among a multitude of lenders Spending and estimating leftover equity Sharing the decision-making process with family and loved ones If you’re a senior wondering whether a reverse mortgage can help you keep your home, this book gives you the information you need to make smart, informed decisions that are vital to you, and your family’s, security. Reverse Mortgages For Dummies will help you keep your home and live the life you want.

Download or read book Mortgages For Dummies written by Eric Tyson and published by John Wiley & Sons. This book was released on 2008-11-17 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: Need a mortgage but worried about the market? In Mortgages For Dummies, 3rd Edition, bestselling authors Eric Tyson and Ray Brown give you proven solutions for obtaining a mortgage, whether you want to buy your first home, refinance, or tap into your equity. You get the latest on sub-prime and adjustable-rate mortgages, finding the best lender, avoiding fiscal pitfalls and foreclosure, and much, much, more! This easy-to-understand, objective, and jargon-free guide helps you fine-tune your finances, figure out what you can afford, and improve your credit score before you go mortgage shopping. You’ll get familiar with the advantages and disadvantages of fixed- and adjustable-rate mortgages, 15- and 30-year loans, and conforming and jumbo packages. You also get help finding and working with reputable professionals, comparing programs, and securing terms you can live with. Discover how to: Match your mortgage to your financial goals Qualify for a mortgage even when money is tight Find the right loan for you Choose the best lender/broker Negotiate the best terms Calculate your costs and payments Understand and complete all paperwork Refinance an existing mortgage Understand and consider special situation loans Explore reverse mortgages and other options Decipher amortization tables and comparison worksheets Use the Internet wisely when mortgage shopping Now, more than ever, you need clear, reliable information that helps you get the mortgage you need at a price you can afford. You need Mortgages For Dummies, 3rd Edition!

Download or read book What's the Deal with Reverse Mortgages? written by Shelley Giordano MA and published by . This book was released on 2019-04 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: If you are a financial professional working with retirees or if you are a retiree overseeing your own retirement spending, this book is for you. What's The Deal With Reverse Mortgages? explains in simple language how to safely and effectively include the home in retirement planning.

Download or read book Understanding Reverse - 2021 written by Dan Hultquist and published by . This book was released on 2020-12-06 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is a reverse mortgage? Is it more than a loan program for those who are "house-rich, but cash poor?" How does the "non-recourse feature" protect homeowners and their heirs? Can the available line of credit and its growth rate be used for insurance and financial planning purposes?This book answers these questions and many more in a user-friendly way and is the most comprehensive educational tool available on reverse mortgages. It should be read by baby boomers, retirees, heirs, financial planners, housing counselors, HECM counselors, Realtors(R), brokers, financial journalists, mortgage professionals, estate planners, and of course all homeowners who want greater assurance that they can comfortably grow older in their own homes.

Download or read book Reverse Mortgages written by Wade Donald Pfau and published by McLean Asset Management Corporation. This book was released on 2018-02-06 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reverse mortgages have been surrounded by negativity. They were often mentioned alongside phrases like "last resort," "out of money," and "bad choice." In 2014, intrigued by the seemingly universal bad rap reverse mortgages had cultivated, Dr. Wade Pfau began researching them in depth. Over the course of the next year, he came to the conclusion that reverse mortgages aren't inherently a bad idea, though they are often misunderstood and not used in a most beneficial way. In fact, Dr. Pfau realized that reverse mortgages---when used correctly---can provide an added layer of security for retirees and allow them to enjoy retirement more by gaining liquidity from an illiquid asset. This second edition of the book is fully revised and updated for the modification of reverse mortgage rules affecting applications after October 2, 2017.

Download or read book Home Equity and Reverse Mortgages written by Harlan J Accola and published by . This book was released on 2018-01-05 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this unorthodox retirement book, Home Equity and Reverse Mortgages: The Cinderella of the Baby Boomer Retirement, Harlan J. Accola is frank about the current state of retirement planning. As baby boomers reach the prime of their lives, they find themselves faced with new challenges. Ten thousand baby boomers retire per day, but there simply is not enough money to go around. If you want to have a fun and prosperous retirement, you are going to have to get creative. This is not your father's-- or your grandfather's retirement! Creative doesn't mean foolish- but it does mean different than what you have been thinking and what you have been told by conventional wisdom. This book is counterintuitive. The advice that Accola offers is guidance gleaned from over twenty years in the industry and collaboration with several financial planning experts and researchers referred to liberally throughout the book. The clear conclusion of the overwhelming evidence in the research shows that most people should get a reverse mortgage as soon as they are eligible at age 62- not 82 or 92 when they run out of money. Accola also understands the psychological barrier that arises when the reader hears the term "reverse mortgage." He asks, "If what you thought you knew about home equity and reverse mortgages was wrong, when would you want to know?" He warns that the longer it takes you or your family to find the truth, the more dangerous it is. He attests to the stability and efficiency of a reverse mortgage and teaches the reader how to safely and profitably use one of the largest assets you have stored in your net worth- home equity. Accola covers the following in the entertaining Cinderella fairy tale format: The scary landscape ahead for millions of unsuspecting Baby Boomers The basics of creating liquidity from your home equity The psychology behind accepting or rejecting reverse mortgages The importance of planning ahead and buying an umbrella before it starts to rain. Real and immediate action steps that will help you get the most out of your retirement In this easy-to-understand and fun guide, Accola presents step by step how to properly use home equity so you can enjoy the fourth quarter of your life and still leave a planned legacy for the next generation.

Download or read book Understanding Reverse - 2020 written by Dan Hultquist and published by . This book was released on 2019-12-16 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is a reverse mortgage? Is it more than a loan program for those who are "house-rich, but cash poor?" How does the "non-recourse feature" protect homeowners and their heirs? Can the available line of credit and its growth rate be used for insurance and financial planning purposes?This book answers these questions and many more in a user-friendly way, and is the most comprehensive educational tool available on reverse mortgages. It should be read by baby boomers, retirees, heirs, financial planners, housing counselors, HECM counselors, Realtors(R), brokers, financial journalists, mortgage professionals, estate planners, and of course all homeowners who want greater assurance that they can comfortably grow older in their own homes.