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 company gets... [Read more]

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 in credit will often seek... [Read more]

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... [Read more]

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... [Read more]

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... [Read more]

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... [Read more]

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... [Read more]