Can I get a reverse mortgage through my bank?

Can I get a reverse mortgage through my bank?
by

1 Answer

Answer :

Many lenders do not offer reverse mortgages and without knowing who your bank is, it is difficult to say if they are a good choice. You may want to start there and look for their recommendation if they do not offer them.
by

Related questions

Once denied a reverse mortgage, can you apply again through another bank?

Description : Once denied a reverse mortgage, can you apply again through another bank?

Last Answer : I don’t see why not. Each bank makes their own decision on weather to lend or not. That doen’t mean they’ll make a different decision though.

What is the difference between a reverse mortgage and a standard mortgage?

Description : What is the difference between a reverse mortgage and a standard mortgage?

Last Answer : answer:Simply stated, mortgage is a loan to purchase a house, which is paid off over many years and costs many thousands af dollars in interest over the life of the loan. Once the mortgage is completely ... monthly payments, and the loan is paid off when the borrower dies or moves out of the house.

reverse mortgage

Description : reverse mortgage

Last Answer : Find out here > http://ww2.reverseourmortgage.com/022/?ab_id=t0024_n2&mktsid=RoMsmbing08102010ms811&kw=Reverse%20Mortgage

Reverse Mortgage Calculator?

Description : Reverse Mortgage Calculator?

Last Answer : Reverse Mortgage CalculatorUse this calculator to help determine the balance of a reversemortgage. This calculator is specifically designed to show you howthe outstanding balance of a reverse mortgage can rapidly grow overa period of time.

Is a Reverse Mortgage Safe?

Description : Is a Reverse Mortgage Safe?

Last Answer : Taking out a reverse mortgage is easy. The requirements are few and the sum of money you can borrow depends on your age and the unpaid balance of the original home loan. The reverse mortgage loan will be ... that a reverse mortgage is not as safe as it sounds.1. Understand that to qualify for a

Can you describe to me what a reverse mortgage is?

Description : Can you describe to me what a reverse mortgage is?

Last Answer : A reverse mortgage is an instrument that uses the equity in a senior citizen's house to provide him or her with income. Once the homeowner dies, the lender gets the house.

What is a HUD reverse mortgage?

Description : What is a HUD reverse mortgage?

Last Answer : A HUD reverse mortgage is a low-interest federally regulated loan that allows senior homeowners to convert a portion of the value in their home into tax-free cash. You can apply for one through an insurance company.

Where can I find a good reverse mortgage broker?

Description : Where can I find a good reverse mortgage broker?

Last Answer : MetLife Bank provides a lot of great information on reverse mortgages, including how to find a reverse mortgage broker. By simply providing your information, MetLife will send you an informational kit which includes a video.

What is a reverse mortgage broker?

Description : What is a reverse mortgage broker?

Last Answer : A reverse mortgage broker is someone who assists to qualify homeowners to borrow money against the value of their home. The mortgage payment is deferred until the homeowner dies or the house is sold.

Is it possible to still get a reverse mortgage loan with bad credit?

Description : Is it possible to still get a reverse mortgage loan with bad credit?

Last Answer : You can get reverse mortgage, but you must also realize that if you pass away or sell your house you do not get all of the money. They will take it and all the interest that goes with it.

What are the reverse mortgage scams taking place today?

Description : What are the reverse mortgage scams taking place today?

Last Answer : 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 a reverse mortgage loan, and where can I get one?

Description : What is a reverse mortgage loan, and where can I get one?

Last Answer : A reverse mortgage is a type of (lifetime morage) for people the ages of 62 and over. It allows the homeowner to access a portion of their equity. I was always told it wasent a good idea.

Where can I find out about reverse mortgage financing?

Description : Where can I find out about reverse mortgage financing?

Last Answer : Reverse mortgage financing is where you are paid per month and when the house is sold you then pay back all the money that was borrowed. In order to get more information about reverse mortgages ... local credit union or bank. If you are searching on-line check with your current mortgage provider.

What exactly is a reverse mortgage?

Description : What exactly is a reverse mortgage?

Last Answer : A reverse mortgage is actually an equity loan. You don't have to actually pay it until you yourself lose custody of the house - when selling, in which you use the money gained to pay it off, after you die, in which the heirs pay it off, etc.

What is the formula for calculating a reverse mortgage?

Description : What is the formula for calculating a reverse mortgage?

Last Answer : Getting the reverse mortgage on your home entails finding the area the home is located, the amount of the mortgage owed on the home, and the estimate of the home value. It usually helps elderly clients if their home value is significantly more than the mortgage owed, if any.

How can one most easily benefit from reverse mortgage marketing?

Description : How can one most easily benefit from reverse mortgage marketing?

Last Answer : Reverse mortgage is a loan provided to a home owner with payments provided based on home equity. The best way to benefit from this would be for a retired person or couple who might have high equity paid up with low mortgage balance. This would afford them to lower the monthly payments significantly!

Where can I get a reverse mortgage and more facts on it?

Description : Where can I get a reverse mortgage and more facts on it?

Last Answer : In order to get more in depth or detailed facts about reverse mortgage you will probably want to consult your mortgage broker. They will be able to give you up to date and factual information. Most ... that you need, but some websites such as hud.gov should help you with any questions you have.

Where can I find information about american reverse mortgage.?

Description : Where can I find information about american reverse mortgage.?

Last Answer : American Reverse Morgage company is a company based out of FL that works with seniors to use the equity in their homes. This company only provides services in reverse mortgage and ... links to various companies and websites that will provide more information about reverse mortgages in general.

Where can I learn about liberty reverse mortgage?

Description : Where can I learn about liberty reverse mortgage?

Last Answer : 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.

How do you define reverse mortgage?

Description : How do you define reverse mortgage?

Last Answer : A reverse mortgage is defined as a type of mortgage in which the homeowner is allowed to borrow money against their house's value. The repayment is not required until the home is sold or the ... The house is basically collateral, and has to be sold to pay the mortgage when the homeowner dies.

Reverse mortgage senior citizens?

Description : Reverse mortgage senior citizens?

Last Answer : A reverse mortgage is an additional loan taken out against the equity already paid into your home. To qualify for a reverse mortgage you must be aged 62 to older and occupy the home as your primary residence.

Is getting a reverse mortgage a good idea?

Description : Is getting a reverse mortgage a good idea?

Last Answer : A reverse mortgage is for older individuals to borrow against their homes. This allows them to not have to sell there home and the bank to make monthly payments to the owner.

Does WellsFargo offer training on how does a reverse mortgage work?

Description : Does WellsFargo offer training on how does a reverse mortgage work?

Last Answer : No, Wells Fargo doesn't offer training on reverse mortgages. They might be able to explain to you what they are but it's not a class per se. To learn about reverse mortgages visit http://www.aarp.org/money/credit-loans-debt/reverse_mortgages/.

A legal agreement between the lender and borrower where real estate property is used as a collateral for the loan is termed as ________ A. Mortgage B. Reverse Mortgage C. Repossession D. Refinance

Description : A legal agreement between the lender and borrower where real estate property is used as a collateral for the loan is termed as ________ A. Mortgage B. Reverse Mortgage C. Repossession D. Refinance

Last Answer : A. Mortgage Explanation: A loan that is secured by property or real estate is called a mortgage. In exchange for funds received by the homebuyer to buy property or a home, a lender gets the promise of that buyer to pay back the funds within a certain time frame for a certain cost.

A financial product which provides senior citizens with funds against their home equity is referred as _______ A. Mortgage B. Reverse Mortgage C. Repossession D. Refinance

Description : A financial product which provides senior citizens with funds against their home equity is referred as _______ A. Mortgage B. Reverse Mortgage C. Repossession D. Refinance

Last Answer : B. Reverse Mortgage Explanation: A reverse mortgage or home equity conversion mortgage (HECM) is a special type of home loan for older home owners (62 years or older) that requires no monthly mortgage payments. Borrowers are still responsible for property taxes and home owner‘s insurance.

Can you help me with our bank mortgage?

Description : Can you help me with our bank mortgage?

Last Answer : answer:If you have an adjustable mortgage, YES. But you should not pay closing fee, title search . . . . again. A fixed mortgage, NO Where is the lawyer from your original closing, your lawyer not theirs ? ? ? Contact the state banking regulator

Can I refinance my mortgage with a different bank, different than the one I currently have it with?

Description : Can I refinance my mortgage with a different bank, different than the one I currently have it with?

Last Answer : Yes, you can refinance with a different bank if you meet their requirements. I’ve never heard of anyone having special stipulations saying they couldn’t do so.

What happens if I walk away from my mortgage even if I have money in the same bank?

Description : What happens if I walk away from my mortgage even if I have money in the same bank?

Last Answer : answer:im not too sure how it works where you are, but here in spain they would just take the other assets off you. having said that, we also have laws against selling people loans via questionable methods. this is not legal advice

Will a bank ever reduce the amount of your mortgage if their own appraiser was full of shit?

Description : Will a bank ever reduce the amount of your mortgage if their own appraiser was full of shit?

Last Answer : Maybe if your bank goes under and is taken over by another bank, they’d get a clue. I don’t know. Sounds reasonable to me in this scenario.

How many days does it take a bank to tell you if you have been accepted for a mortgage loan?

Description : How many days does it take a bank to tell you if you have been accepted for a mortgage loan?

Last Answer : Should be 2 weeks tops.

I decided to do a short sale on my property before it the mortgage company starts foreclosure proceedings. I approached a realestate agent and he told me he will handle everything. he will talk to the bank, get a buyer, etc. Should I let him handle it or should I approach the mortgage company first to tell them about the short sale?

Description : I decided to do a short sale on my property before it the mortgage company starts foreclosure proceedings. I approached a realestate agent and he told me he will handle everything. he will talk to ... him handle it or should I approach the mortgage company first to tell them about the short sale?

Last Answer : Get that puppy sold. You don’t have to let the mortgage company know. If you trust your agent then let them do their job and earn their commission.

I am a married woman for 25 years,but my husband does not want to help me pay mortgage, or any other bills I think he is gambling he never has money, his bank acct is empy. Do I have any legal rights ?

Description : I am a married woman for 25 years,but my husband does not want to help me pay mortgage, or any other bills I think he is gambling he never has money, his bank acct is empy. Do I have any legal rights ?

Last Answer : Math is very important when getting your CNA for many reasons. Math is the basis of any medical field. You will need it to calculate weight of patients, medicine dosage, and to use with any procedures.

Which bank offering the lowest mortgage rate at the current time?

Description : Which bank offering the lowest mortgage rate at the current time?

Last Answer : You can search many institutions or banks or lenders in your area and get the content of each of them about the quotes that they offer. Be certain to present your financial information below prepared and honesty.

Is the us bank home mortgage any good?

Description : Is the us bank home mortgage any good?

Last Answer : Us Bank Home mortgage offers options tailored to Home mortgages threw their Making Home Affordable Program. If you qualify and your current mortgage is up to date, you may be eligible to refinance ... mortgage. There are many options for Home Mortgages that make this bank a possible great choice.

How will the current bank rate affect the terms of my mortgage?

Description : How will the current bank rate affect the terms of my mortgage?

Last Answer : The current bank rate is one factor to how much interest you will pay on your mortgage. If the rate is very high, your interest will also higher, limiting how much you can take out in a mortgage and what house you can buy.

What should I look for when selecting a mortgage bank?

Description : What should I look for when selecting a mortgage bank?

Last Answer : en.wikipedia.org/wiki/Mortgage_bank this website will help you look for a ideal mortgage bank. when you look for refinancing a home mortgage you should look at the website to help you with that

Which of the following is a non-current liability a) Mortgage loan b) Bank balance c) Outstanding salary d) None of these

Description : Which of the following is a non-current liability a) Mortgage loan b) Bank balance c) Outstanding salary d) None of these

Last Answer : a) Mortgage loan

Where can i find a bank that does reverse mortgages for seniors ?

Description : Where can i find a bank that does reverse mortgages for seniors ?

Last Answer : You can go to http://www.bestreversemortgage.com/ to find information on what banks do reverse mortgages for senions. This site also gives a lot of information regard reverse mortgages and the fraud that is being targeted towards seniors.

Does Bank of America offer reverse mortgages?

Description : Does Bank of America offer reverse mortgages?

Last Answer : Yes, you can get a reverse mortgage from Bank of America. In order to see if their rates are any better than Wells Fargo, you will have to call both banks and give them some information about you.

Which of the following is governed by the provisions of Section 42 of the Reserve Bank of India Act, 1934? A. Bank rate B. Reverse Repo Rate C. SLR D. CRR E. None of the Above

Description : Which of the following is governed by the provisions of Section 42 of the Reserve Bank of India Act, 1934? A. Bank rate B. Reverse Repo Rate C. SLR D. CRR E. None of the Above

Last Answer : D. CRR Explanation: CRR is governed by the provisions of Section 42 of the Reserve Bank of India Act, 1934. There is no minimum & maximum level of CRR. We could go upto zero CRR (negative values are of course absurd).

How do I know if the calculations of my (adjustable) mortgage payments have been correctly made through the years?

Description : How do I know if the calculations of my (adjustable) mortgage payments have been correctly made through the years?

Last Answer : Make an appointment with the company that services your mortgage and demand a complete accounting.

Refering to the illustrated schematic diagram, which of the following statements is true when the motor is running in the forward direction? EL-0011 A. Normally-open contacts '4-5' are closed. B. Current flows through the 'Reverse' push-button switch. C. Normally-closed contacts 'R' are open. D. The blowout coils must be closed.

Description : Refering to the illustrated schematic diagram, which of the following statements is true when the motor is running in the forward direction? EL-0011 A. Normally-open contacts '4-5' are closed. B. Current ... switch. C. Normally-closed contacts 'R' are open. D. The blowout coils must be closed.

Last Answer : Answer: B

In the illustrated electronic governor, the circuit card connected to the potential and current transformers is for ________. EL-0046 A. increasing the signal strength to the governor to maintain constant engine speed with increased load B. send a kilowatt signal to the metering circuit C. shutting down the prime mover in the event of reverse power to protect from motorization D. conditioning the load through the use of a magnetic amplifier current transformer

Description : In the illustrated electronic governor, the circuit card connected to the potential and current transformers is for ________. EL-0046 A. increasing the signal strength to the governor to ... from motorization D. conditioning the load through the use of a magnetic amplifier current transformer

Last Answer : Answer: A

The function of the commutator in a DC motor is to ________. A. reverse the flow of current through the armature B. reverse the flow of current in the field poles C. reduce the reluctance of the magnetic path through the motor D. shift the neutral running plane of the brushes to prevent sparking

Description : The function of the commutator in a DC motor is to ________. A. reverse the flow of current through the armature B. reverse the flow of current in the field poles C. reduce the reluctance of the magnetic path through the motor D. shift the neutral running plane of the brushes to prevent sparking

Last Answer : Answer: A

Reversing the current flow through a coil will ___________. A. reduce the amount of flux produced B. have no effect on the eddy currents produced C. reduce the power consumed D. reverse its two-pole field

Description : Reversing the current flow through a coil will ___________. A. reduce the amount of flux produced B. have no effect on the eddy currents produced C. reduce the power consumed D. reverse its two-pole field

Last Answer : Answer: D

The reverse current through semiconductor diode is due to (a) Minority carrier (b) majority carrier (c) electrons (d) holes

Description : The reverse current through semiconductor diode is due to (a) Minority carrier (b) majority carrier (c) electrons (d) holes

Last Answer : (a) Minority carrier

Which of the following statement is false (a). Enzymes are differentiated by electrophoresis method (b). While DNA sequencing both forward and reverse primers are used (c). Amplification is done through PCR (d). ABO blood grouping is mainly used for differentiating individuals

Description : Which of the following statement is false (a). Enzymes are differentiated by electrophoresis method (b). While DNA sequencing both forward and reverse primers are used (c). Amplification is done through PCR (d). ABO blood grouping is mainly used for differentiating individuals

Last Answer : Ans: (b). While DNA sequencing both forward and reverse primers are used