In theory, a reverse mortgage makes for a wonderful idea. An elderly person who has his home that’s perhaps nearly paid for, but has little money to live on, can sell his title to his home to a lending company. The lending company gives him whatever his home is or two )worth on the market minus what he owes on the house; when the person passes away or when he moves out, the lending [...] Continue Reading…

There are some people that go after a home loan with such bad credit that they have no hope of getting a good interest rate without a lot of work on their credit score – if they have any hope of getting a home loan at all. Some people with better credit just assume that they can not get a home or a good rate, even though they may qualify. Those with troublesome histories [...] Continue Reading…

Investing in age-based 529 savings plans for your child’s college may seem like the ultimate in responsible investing in your child’s future. An age-based 529 plan typically invests your money in high-growth investments – stocks and the like – to begin with. As your child’s college freshman year draws closer, they are supposed to realize that if they lose any money in the stock markets, they don’t have any time to recover; they [...] Continue Reading…

The media keeps writing premature obituaries for the housing finance majors Freddie Mac and Fannie Mae with a certain amount of glee. Is that really called for though? If the federal government actually manages to shut these two down, would that be a good thing for homeowners in America? America has been raised on a steady diet of the 30-year and 40-year mortgages for about a half century now.

With these two housing finance companies [...] Continue Reading…

If you are residing in Arizona and are considering to take out refinancing loan, it would be favorable if you could take advantage of low mortgage rates currently available. During the last month of year 2008, the average going rates for 30 year Federal Housing Administration (FHA) refinancing mortgage rates dished almost 20 basis points, landing at a gracious mortgage rate of 5.73%.

Compare that with the standard mortgage refinance rate of approximately 6.4% to [...] Continue Reading…

Kelli Space, 23, graduated from Northeastern University in 2009 with a bachelor’s in sociology — and a whopping $200,000 in student loan debt. Space, who lives with her parents and works full-time, put up a Web site called TwoHundredThou.com soliciting donations to help meet her debt obligation, which is $891 a month. That number jumps to $1,600 next November.

In creating the site, Space, of course is hoping to ease her financial burden, but it’s [...] Continue Reading…

The misconceptions regarding the terms of reverse mortgages astound me to no end. Despite the recommendations received from the American Association of Retired Persons (AARP), the idea of applying for a reverse mortgage continues to elicit worry among seniors. It’s even exacerbated by friends who declare reverse mortgages to be bad news despite lacking credible information about the matter.

In this article, we’re going to dissuade the myths about reverse mortgages that continue [...] Continue Reading…

Taking out a reverse mortgage is a major decision, since you are putting the equity of your primary residence at stake. One of the most important things you need to do is to attend a reverse mortgage counselling seminar. This seminar is organized to enlighten the prospective borrower’s understanding about reverse mortgage. Similar to most financial transactions, reverse mortgage is hounded by myths and uneducated opinion that affect its popularity. Technically, the seminar should [...] Continue Reading…

You may be considering it for a time now but are afraid because some are telling about the dangers of reverse mortgages that can be placed on you once you avail them. But are these dangers have basis? Or these are simply dangers that you should not mind because the benefits are just too good to ignore?

First, let’s point out these benefits:

You get to own your home or estate for so long as you [...] Continue Reading…

It is a natural occurrence in the life cycle of an individual to change priorities according to their age. In the case of financial needs, for instance, young children have trivial monetary concerns. Teenagers, on the other hand, have increased yet manageable needs. Young professionals have complicated and often unnecessary financial issues. Yuppies, as they are referred to in urban slang, have a higher propensity to buy because of the initial excitement of real-world [...] Continue Reading…