What is a HUD reverse mortgage?

What is a HUD reverse mortgage?
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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.
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Related questions

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.

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.

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.

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.

Can I get a reverse mortgage through my bank?

Description : Can I get a reverse mortgage through my bank?

Last 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.

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.

Do you think it is possible to use hypnosis to create some kind of HUD in my vision that displays information gathered and processed by the subconsciousness while being conscious?

Description : Do you think it is possible to use hypnosis to create some kind of HUD in my vision that displays information gathered and processed by the subconsciousness while being conscious?

Last Answer : did your parents take away you video games? :P actually does sound kind of cool though.

Where can I find hud homes for rent in georgia?

Description : Where can I find hud homes for rent in georgia?

Last Answer : This all depends on where in Georgia you are looking to rend a HUD. I would suggest checking out www.hud.gov. This website provides info on help finding HUD for rent by state, and can ... . This site allows you to view the price for multiple bedroom rentals in addition to applying for placement.

Is HUD the only federal low income housing program in the US?

Description : Is HUD the only federal low income housing program in the US?

Last Answer : No HUD is not the only one but they are indeed the largest.

I'am trying to find low income housing for my senior parents they both have ss income and want to relocate to ma, fr buffalo ny and wants and prefersto live inin a hud bulding what should I do?

Description : I'am trying to find low income housing for my senior parents they both have ss income and want to relocate to ma, fr buffalo ny and wants and prefersto live inin a hud bulding what should I do?

Last Answer : JUST VIEW THE SITE YOU CA THE DETAILED INFORMATION www.hud.gov

Are there any homes to rent in my area with hud?

Description : Are there any homes to rent in my area with hud?

Last Answer : You can find that info at http://www.hud.gov/renting/

i want to know the criteria for renting a hud home in boise idaho?

Description : i want to know the criteria for renting a hud home in boise idaho?

Last Answer : Here is the web page for Idaho HUD http://www.hud.gov/local/index.cfm?state=id&topic=offices good luck!

I want to know the criteria for renting a HUD home the N.Y.C. area.?

Description : I want to know the criteria for renting a HUD home the N.Y.C. area.?

Last Answer : You should start by researching this website about HUD in NYC http://www.hud.gov/local/index.cfm?state=ny&topic=renting

I am looking for a hud house to rent in Hughe, AR with the assistance of a voucher. Can you give me a list of the available houses in Hughes, AR please?

Description : I am looking for a hud house to rent in Hughe, AR with the assistance of a voucher. Can you give me a list of the available houses in Hughes, AR please?

Last Answer : homeswithhughes.ca this link will helps you

How do I find our HUD settlement statement from the purchase of our home?

Description : How do I find our HUD settlement statement from the purchase of our home?

Last Answer : You will have to call your local mortgage company in order to find the right settlement that are looking for HUD.

HUD Apartments?

Description : HUD Apartments?

Last Answer : form_title= HUD Apartments form_header= Save money with HUD approved apartments. What is your desired price range?*= _ [50] How many rooms do you need?*= {1, 2, 3, 4, 5, More than 5} What is your desired move in date?*= _ [50]

HUD Low Income Housing: Rental Assistance For Seniors?

Description : HUD Low Income Housing: Rental Assistance For Seniors?

Last Answer : People with low incomes may qualify for affordable rent by asking for help from the United States Department of Housing and Urban Development. The HUD can pay private apartment complexes the ... the set income limit can qualify for HUD subsidized rental assistance in private apartment properties.

Who can I buy hud homes from?

Description : Who can I buy hud homes from?

Last Answer : All real estate companies are created equal, however not all real estate agents are. Regardless of the company, your experience buying a home depends on the specific agent you are working with and their knowledge and experience.