Monday, March 21, 2011

Applying for Jumbo Reverse Mortgage Loans

Jumbo Reverse Mortgages are also known as Proprietary Reverse Mortgages which are designed and offered by financial institutions for senior homeowners having high value homes. They offer higher amounts than is offered from HECM reverse mortgages.

Administered by private companies and financial institutions, Jumbo reverse mortgage loans have more flexibility in terms to what they offer to the borrowers. Unlike HECM and Home Keeper reverse mortgage loans, Jumbo reverse mortgage loans have no limit on the maximum amount that can be borrowed from the lender. Therefore, it is best suited for those who live in homes valued at or over $600,000.

If you want to benefit from professional assistance before proceeding with this type of loan, then you can contact Reverse Mortgage Group. They have experienced professionals and counselors that provide information that you must know before you apply for this type of loan. Along with that, they have developed a very informative website (http://www.reversemortgageloansplus.com) wherein you can seek information about not only one loan product but about all reverse mortgage loan products with latest information.

Get in touch with them to know how you can get the maximum amount from the lender against your home equity!

Tuesday, March 15, 2011

Advice of Reverse Mortgage Counselors

Reverse Mortgage Loans are appropriate for seniors who do not want to be under the burden of making monthly payments to their lender. The borrower doesn’t have to repay back to the lender while he or she is alive or living in the same home.

To qualify for this type of loan, a borrower has to be at least 62 years of age and must own a house in his or her name. With this type of loan, borrowers can get cash against their home equity without making monthly payments.

There are three types of reverse mortgage products that are available for senior citizens. These are:

1. FHA reverse mortgage loan,
2. Home Keeper reverse mortgage loan, and
3. Jumbo reverse mortgage loan

Every loan has its own set of qualification criteria, benefits, and limitations that must be known in advance to avoid problems in the future. Before you select any of the three loan products, you must contact a reverse mortgage counselor about the best product to suit your needs. Every individual has its own requirements and therefore personal counseling is essential to help you get started.

You can get in touch with Reverse Mortgage Group where experienced counselors work hard to help seniors understand the products available to them. Get in touch with them at the earliest available moment and free yourself from your financial burdens.

Thursday, March 10, 2011

The Popularity of FHA Reverse Mortgage Loans

The FHA reverse mortgage product is federally insured which means that the US government guarantees that the borrower will receive all of the money that is allocated to him or her no matter how the market progresses. The government guarantees to pay the money if:

1. The lender goes out of the business
2. The house prices fall and can’t cover the loan
3. The payment received from the lender exceeds the equity of the home

Under any and all of these circumstances, the borrower does not have to worry about the amount that is owed to them by the lender. This is why popularity among senior borrowers is growing; they are assured that they will receive the money against their home equity as per current interest rates.

Before you apply for a FHA reverse mortgage loan, you should seek help from professional counselors who will help you to evaluate the value of home equity as per your age and existing HECM interest rate to help you get the best deal.

Reverse Mortgage Group is one such name in this industry that has been fulfilling the demands of its clients efficiently. They not only help in understanding the various reverse mortgage products but also help in connecting with reliable lenders to get you the best deal.

If you are planning applying for any reverse mortgage loans, now is the time to seek help from the Reverse Mortgage Group and acquire financial freedom.

Wednesday, March 2, 2011

Reverse Mortgage Loans- Evaluating Home Equity’s Valueand Amount Owned

A number of factors are considered to qualify for a reverse mortgage loan. It includes borrowers’ age, the value and location of the home, and debt secured by the home. What happens when your age meets the eligibility criteria of a reverse mortgage but your home equity does not qualify?

The amount received from a reverse mortgage loan is based on the value of home equity. If you own a home but value of the home equity is less than what is owed, it is not possible to apply reverse mortgage as an option to meet your financial needs. The lender does not qualify your home if it fails to exceed the amount owed.

While the amount received from reverse mortgage varies based on the different reverse mortgage products, it is still not higher than 50% of the home equity. To evaluate your home and debts, you must consult from a professional counselor who will help you to understand the situation clearly. Reverse Mortgage Group is one such organization that helps evaluate the whole financial situation before you apply for this type of loan.

If there is a possibility to pay the difference in the amount to be received from the lender and the debt from other sources, you still can consider reverse mortgage loan as an option. A senior homeowner, however, smart and intelligenthe or she may be,can always benefit from expert help.

Apply for a loan with an in-depth understanding of the various loan products. Visit the site (https://www.reversemortgageloansplus.com) to contact them at your earliest available moment; it could bring you closer to financial freedom.

Sunday, February 27, 2011

Prepayment of Reverse Mortgage Loans

Unlike other mortgage loans, reverse mortgage loans are considered the best option for seniors, as they do not have to make any monthly payments to the lender. In fact, the lender pays monthly payments to the borrower while he continues to live in his own home, without any financial burdens.

While a borrower is not due to make payments back to the lender while he is alive or is staying in the home, he can still make pre-payments to the reverse mortgage lender. He will not be liable to pay any prepayment penalties too.

So, unless you have plans to sell the home to move out to a different home, it doesn’t make much sense to make prepayments. On the other hand, reverse mortgage loans are non recourse loans. So, even if you plan to sell the home before you die, you will never be liable to pay more than the value of your home. If you die and your heirs desire to keep the home, they can payback the loan to the lender to retain the home in their name.

Such information is essential to know before you begin with the procedure to take reverse mortgage loans. If you want to know more, you need experienced consultants to provide you with the right guidance. Reverse Mortgage Group is one such consultancy that not only provides you information related to reverse mortgage loans but also helps you to connect with reliable reverse mortgage lenders.

Get in touch with them and secure your future financially!

Wednesday, February 23, 2011

Cash Received from Reverse Mortgage Loans Are Tax-Free

Theageing process also comes with financial burdens that sometimes become hard to manage on your own. With the passage of time, your monthly income stops and you begin to experience financial burdens like home maintenance, medical bills, etc.
To surpass such financial burdens, reverse mortgage loans are now available for seniors of 62 years of age or more. They simply must have title of the home on their name and must meet age requirements to qualify for this loan.

However, if you are thinking that you may become liable to pay tax after acquiring lump sump amount from the lender against your home, then good news is that HECM reverse mortgage loans are tax-free. It is because the cash received from this type of loan is not earned income but it is the principal balance of a loan that has to be repaid with interest.

This may prove to be an exciting option for seniors as they don’t have to repay till they are alive and are not liable to pay any taxes on the amount received. So, while you are applying for a reverse mortgage loan, you need to consider all the factors that may hinder your peace in the future.

Consulting with a professional dealing in reverse mortgage loans might be of your help as they can guide on the right path for your assets and income. Reverse Mortgage Group is one of the well-known service providers that help to connect with reliable lenders for secure reverse mortgage options and procedure.

Sunday, February 20, 2011

Choosing Between Fixed and Adjustable Rate HECM Loans

Borrowers who are planning to apply for a reverse mortgage loans are often confused between a fixed rate and adjustable rate Home Equity Conversion Mortgage Loan (HECM).

To clear up any confusion, below is a short description of both types of loan rates:
With fixed rate HECM loans, the interest rate is locked for the entire duration of the loan. The only benefit you can receive from this type of loan is that you will always be aware of the interest rate accrual of the reverse mortgage.

On the other hand, the adjustable rate HECM loans have greater flexibility as you can choose between a line of credit, a lump sum,or a combination of monthly payments. This type of loan is also insured by the government and may be offered at lower interest rates. Moreover, this is for an extended period of time as your interest rate can change, but it won’t affect your monthly lifestyle.

The Reverse Mortgage Group will help you with advice, guidance, and information to consider while choosing between both loan types.

Tuesday, February 15, 2011

From Application to Funding Reverse Mortgage Loans

Reverse Mortgage Loans are specifically designed for people who are 62 years of age or older so that they can enjoy the golden years of their life with peace and financial stability. But, the only requirement is that they must own a house, with their name on the title.

Reverse Mortgage loans are federally insured programs and hence, require little time from application to funding. The borrower needs to submit the essential documents to the bank on time to accelerate the loan process. You can make this possible by working with reverse mortgage counselors who will help you gather and organize all of the application information to ensure that you do not miss out on any information before applying.

Generally, it takes about 30-45 days to complete the whole loan process. Once the final documents are signed, it usually takes 3 more days to receive your final papers. Eligible borrowers are over62 years of age and must own the home, with their name on the title.

Reverse Mortgage Group helps senior borrowers by providing assistance, guidance, and advice during the reverse mortgage loans process. If you need any assistance with the process, then complete the form (Link) available on the website.

Thursday, February 10, 2011

Applying for a Reverse Mortgage with a Professional’s Help

Do you want to apply for a reverse mortgage loan? Are you fed up with looking for a bank that will offer you the best deal? Let’s make this simple by getting in touch with a professional counselor. They play an important role as they are experienced players in the reverse mortgage industry and are aware of the best time to apply for this type of loan.

Moreover, they have the details about multiple banks and lenders and will save you time by providing the best deals. This will help you to eliminate the guesswork while comparing the banks offering lowest rates and highest cash value for your home.

You can’t trust all of the professionals out there trying to assist you; you need to get in touch with a reliable and reputed firm. Reverse Mortgage Group has a flawless reputation in the industry for providing information, quotes, and assistance while applying for a reverse mortgage loan.

They will also provide you with the information for different loan options. So, don’t risk proceeding with the application without the professional help and guidance that’s available to you.

Sunday, February 6, 2011

What To Ask A Professional Reverse Mortgage Counselor?

The reverse mortgage counselors have the right experience and knowledge that can make this process much easier and smoother. However, you should know the right questions to ask from them well in advance so that you can be sure that you are taking the right steps in this matter.

Here under are few questions that can help you gain more information about a reverse mortgage loan:

1. Enquire the best loan option:only a few of the available reverse mortgage loans are a good fit for each senior who want to maximize his/her cash flow. A counselor provides essential guidance that helps to make the right decision as per the needs and other factors determining the particular loan option.

2. Enquire about scam companies: An experienced counselor will help you to connect with a reasonable reverse mortgage company. They will help you to keep secure from scam companies in the industry.

3. Ask the best time to start the loan: Reverse home mortgage loan is also a financial product and there is always a fluctuation in the offers from the different lenders. Determine the timing so that you can receive maximum benefits from the loan.

For all the above questions, you need to contact a counselor working with a renowned company. Reverse Mortgage Group has been serving borrowers with their knowledge and experience by guiding them through only the best loan options available.

Get in touch with them andclarify your understanding before you proceed further to apply for this loan!

Sunday, January 30, 2011

Four Types of Options for a Senior Borrower

While you are planning to take a reverse mortgage loan, you should know the optionsthat are best for you. There are four ways to receive money from the lender. However, it all depends on the program you choose, whether you will have to take an adjustable or a fixed mortgage rate.

Before you consult with your professional reverse mortgage counselor, you must know the types of options you have:

1. Take all funds as a lump-sum amount by the borrower. You can either choose an adjustable or fixed rate for this plan.

2. Choose the monthly payment option in which payments are made available for the specific amount of time or for a lifetime. There is no option for a fixed interest rate and have to choose adjustable rate for this plan.

3. Line of credit is another option in which no interest is charged until you take the money. You can choose adjustable interest rate for this type of reverse mortgage loanoption.

4. Every borrower has different problems and therefore, a combination of the above options can help them to get the most benefit out of it. By combining the above options, only option available is the adjustable rate mortgage.

If you are unable to choose the right option, you can consult with counselors working in Reverse Mortgage Group. They will assist you with all the possibilities related to it and will also help you to connect with a reliable lender that will provide assistance in the most efficient manner.

Sunday, January 23, 2011

Refinancing the Existing Reverse Mortgage Loan

When a senior is planning to refinance the home with the reverse loan, it is time to contact a reverse mortgage counselor that will help provide essential calculations and guidance. There are two types of loan rates, i.e. the initial rate and the expected rate. A borrower needs to decide whether they want a monthly or yearly interest rate adjustment period.

Moreover, it is essential to consult with the counselor about the implications on the refinancing the loan. Many seniors use the reverse mortgage loan to refinance their existing mortgages but they must calculate all the factors before actually implementing on it.

Here comes the role of the reverse mortgage counselors!They are the right people to help you get the right calculations at the right time. Reverse Mortgage Group also helps seniors with every possible bit of information, knowledge, and education about the process. You are welcomed to discuss your current situation and receive advice and guidance that will help you the most.

So, visit the site (www.reversemortgageloansplus.com) to get in touch with one of the counselors at this renowned company.

Monday, January 17, 2011

Hire a Reverse Mortgage Counselor to Choose the Best Loan Option

Differentiating scam companies from respectable companies is a tough task that requires an expert who has been in this industry for years and has a working knowledge of it.Research is essential before you take any type of loan from the lender. As far as reverse mortgage loan is concerned, there are professional reverse mortgage counselors that not only guide you through different alternatives but also help to connect with a reliable reverse mortgage lender to make the process smooth and secure.

Those who are planning to take reverse mortgage loan must be at least 62 years of age and must have the title of the house on their name. Once they quality for this type of loan, the counselors provide you with appropriate solutions to help you make the right decision to secure your golden years of life.

To make your job easier, Reverse Mortgage Group is helping various eligible borrowers by providing them with different loan options and then connecting with a professional reverse mortgage lender.Moreover, a knowledgeable loan adviser and processing team will be available to you at all the times to make sure that you don’t have any worries or queries related to the procedure.

Monday, January 10, 2011

Necessary Consultation before Taking a Reverse Mortgage Loan

Reverse Mortgage Loans are non-recourse loans in which the senior borrower can never owe more than their home value. Moreover, the borrower doesn’t have to pay back as long as he is alive and is willing to stay in the same house. The repayment is required only when the borrower moves out of the home permanently. All the clarifications related to reverse mortgage loans can only be sorted out if you get in touch with a reliable and experienced reverse mortgage lender available in your located area.

Reverse Mortgage Group is a reliable name in this rapidly increasing industry. They understand your confusions and queries related to this type of loan. Therefore, they help you to connect with an experienced HECM (Home Equity Conversion Mortgage)lender that will clear all your queries by providing you with the best possible solutions available as per your age limits and the value of your home.

You can choose the best possible home reverse mortgage loan option that can help you to overcome the problems that is forcing you to take HECM loan. Moreover, you will be able to improve your standard of living and will not have to worry about expenses that are essential for your daily life.

It is necessary to go through the details properly before you make up your mind. If you want to inquire about a reverse mortgage and its pros and cons, you can visit their informative website (http://www.reversemortgageloansplus.com/) designed especially to educate the senior homeowners about this loan option.

Saturday, January 1, 2011

Secure your Home Ownership with Reverse Mortgage Loan

Many people are hesitant to apply for home mortgage loans in fear of loosing out their home. Therefore, a new type of loan has been made available for seniors are Reverse Mortgage loans. This type of loan secures your home ownership while providing you additional income to cover your monthly expenses.

So, a senior homeowner can retain the title of his property while he is alive or remains in the home. In order to apply for this loan, one must be at least 62 years of age and own the title of the property on his name. The lender will never transfer the ownership in his name and will never demand any kind of payment till the borrower is staying in the home.

For more clarity and information about reverse mortgage loans, you can consult with Reverse Mortgage Group. They will not only provide you with relevant information but will also connect you with qualified and experienced lenders who will guide you to take the right step to secure your future as well as your home.

After all, your home equity is your valuable asset which you can not afford to loose to fight against with your temporary financial hardship.