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REVERSE MORTGAGES PACKAGE DEAL
REVERSE MORTGAGES PACKAGE DEAL
[Show more]REVERSE MORTGAGES PACKAGE DEAL
[Show more]HECM 
Home Equity Conversion Mortgage 
this is under the FHA 
 
 
 
Reverse mortgage 
-an umbrella term that can refer to multiple things 
1) FHA / HECM (we are only talking about the FHAHECM) 
2) Private companies 
 
 
 
 
 
 
00:00 
 
01:15 
Details about the FHA HECM program 
-Its an FHA Program ...
Preview 1 out of 4 pages
Add to cartHECM 
Home Equity Conversion Mortgage 
this is under the FHA 
 
 
 
Reverse mortgage 
-an umbrella term that can refer to multiple things 
1) FHA / HECM (we are only talking about the FHAHECM) 
2) Private companies 
 
 
 
 
 
 
00:00 
 
01:15 
Details about the FHA HECM program 
-Its an FHA Program ...
How old do you have to be to qualify for a Reverse Mortgage 
62 years or older 
 
 
 
Who retains ownership of the property 
The Borrower 
 
 
 
 
 
 
00:19 
 
01:15 
When is the Reverse Mortgage due 
When the owner sells the home or dies 
 
 
 
What is the minimum credit score to qualify 
No minimu...
Preview 1 out of 3 pages
Add to cartHow old do you have to be to qualify for a Reverse Mortgage 
62 years or older 
 
 
 
Who retains ownership of the property 
The Borrower 
 
 
 
 
 
 
00:19 
 
01:15 
When is the Reverse Mortgage due 
When the owner sells the home or dies 
 
 
 
What is the minimum credit score to qualify 
No minimu...
HOME EQUITY 
HOME VALUE MINUS LIENS ON THE HOME 
 
 
 
PURPOSE OF A REVERSE MORTGAGE 
GENERATE CASH 
 
 
 
 
 
 
00:40 
 
01:15 
FORWARD MORTGAGE PURPOSE 
THE ORDINARY MORTGAGE MOST PEOPLE USE TO PURCHASE HOME 
 
 
 
FORWARD MORTGAGE 
BORROWERS EQUITY INCREASES OVER TIME THE LOAN BALANCES DECREASES ...
Preview 3 out of 28 pages
Add to cartHOME EQUITY 
HOME VALUE MINUS LIENS ON THE HOME 
 
 
 
PURPOSE OF A REVERSE MORTGAGE 
GENERATE CASH 
 
 
 
 
 
 
00:40 
 
01:15 
FORWARD MORTGAGE PURPOSE 
THE ORDINARY MORTGAGE MOST PEOPLE USE TO PURCHASE HOME 
 
 
 
FORWARD MORTGAGE 
BORROWERS EQUITY INCREASES OVER TIME THE LOAN BALANCES DECREASES ...
Who are reverse mortgages popular products for and why? 
Popular for older homeowners who have equity in their homes and little or no income. 
 
 
 
What do reverse mortgages allow people to do? 
Allow older homeowners to use equity in their homes to meet expenses of living or to pay for home improv...
Preview 2 out of 10 pages
Add to cartWho are reverse mortgages popular products for and why? 
Popular for older homeowners who have equity in their homes and little or no income. 
 
 
 
What do reverse mortgages allow people to do? 
Allow older homeowners to use equity in their homes to meet expenses of living or to pay for home improv...
Reverse Mortgages 
A loan used by qualified homeowners age 62 or older, who have equity in their homes, but little to no income 
 
This loan allows the elderly to use the equity in their homes to meet the expenses of living, or tp help pay for home improvements 
 
 
 
T or F? Borrowers do not have t...
Preview 2 out of 9 pages
Add to cartReverse Mortgages 
A loan used by qualified homeowners age 62 or older, who have equity in their homes, but little to no income 
 
This loan allows the elderly to use the equity in their homes to meet the expenses of living, or tp help pay for home improvements 
 
 
 
T or F? Borrowers do not have t...
Q 21:7, What is a reverse mortgage? 
The AARP succinctly defines a reverse mortgage as "a home loan that gives cash advances to a homeowner, requires no repayment until a future time, and is capped by the value of the home when the loan is repaid." 
Commercial reverse mortgages may be "federally ...
Preview 3 out of 16 pages
Add to cartQ 21:7, What is a reverse mortgage? 
The AARP succinctly defines a reverse mortgage as "a home loan that gives cash advances to a homeowner, requires no repayment until a future time, and is capped by the value of the home when the loan is repaid." 
Commercial reverse mortgages may be "federally ...
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