Having a contingency plan at the back of our mind is something that each of us should be doing. Life is full of twists and turns and the best way to deal with any situation is to have a contingency plan in hand. Just make sure that the plan is effective and hassle free so [...]
In today’s fast paced world, there are many things that one has to keep in mind to move accordingly. One of the most important things among them is money. One needs money in every aspect of their life and therefore, one has to make sure that they have a constant of flow of money in [...]
One of the things that we always explain to senior borrowers when they ask about reverse mortgages is that they are non-recourse loans. The next question is always, What is a non-recourse loan?. This is a very important feature of the reverse mortgage and I want to take a moment to explain just what non-recourse [...]
A disturbing trend is occurring today in the area of reverse mortgages. These instruments originated with what some might consider predatory lenders, but have gradually moved over to the mainstream lenders. Credible companies like Wells Fargo are now moving into this area. As a Professor of Personal Finance at Eastern Michigan University, I have [...]
Retirees concerned about their decimated savings should take a second look at reverse mortgages. Beginning November 1, 2008, homeowners everywhere may borrow up to $417,000. Previously, the Home Equity Conversion Mortgage program assigned various lending limits, ranging from $200,160 in rural areas to $362,790 in the most expensive housing markets. Existing reverse-mortgage borrowers may be [...]
The home buying process can be daunting even if this is not the first home that you have purchased. The process can be daunting because of the many things there are to take into consideration such as which realtor to go with, whether you want to purchase a new or a used home and how [...]
Needing money is very much a part of life. You need money for pretty much all things in life, such as clothing, food, shelter and so forth. Many people work their entire lives to save up enough money for the things that they really want, however, there are other options when you are short on [...]
Getting old is no reason why one should not get the liberty to enjoy life. One has all the rights to do the things that they want to even if they are old. In fact, with old age comes in problems, as in health problems, financial problems and many more things. In fact, at times [...]
Life is full of surprises and uncertainties. At times, these surprises are pleasant and at times, they are highly ugly and highly breaking. Moreover, one bitter fact about life is that none of us know the future and we do not know what might hit us and in which form. Well, it is not that [...]
Life is tremendously beautiful. Therefore, even if many a times we feel that there are some problems that we might be facing, we somehow or the other manage to come out of it. Moreover, life is a journey in itself and the path is both beautiful and at times, very horrifying. With each stage that [...]
