Are You Paying Too Much for a Reverse Mortgage?
By looking into this matter a little more I was able to find a company who had lowered this fee to $3995. (According to my research this would be among the lowest in the country.) Not only does this save you thousands of dollars in closing costs, but it also allows you to get more "bang for your buck" when it comes to the reverse mortgage loan itself.
Now this pricing research was based upon a FHA HECM (Home Equity Conversion Mortgage) reverse mortgage loan, but there are other types of RM programs available. The FHA HECM reverse mortgage loan is one of most popular programs utilized today, but there's also what's called a Fannie Mae Homekeeper reverse mortgage loan. This type of loan has no restrictions on how you may use the money and the funds are tax-free. Another relatively new reverse loan program available is called a Reverse Mortgage Cash Account. This loan is the only RM program that is available as a Zero Closing Cost loan. Yes, you heard it right, a no cost reverse mortgage loan!
So you see there are many options and advantages available when it comes to selecting a RM program. Take time to educate yourself in the ways of reverse mortgage loans so that you can properly discern the correct direction. Also, remember that one of the best things to do is to shop around and get an idea as to what exactly is out there in the realm of reverse mortgages. Most importantly be sure to seek counsel from an educated third party that can evaluate your current situation and determine which loan would ultimately work best for you. Along with many options come many choices and in the end you want to make sure that you are comfortable with your decision and that you have received the best value from the program you choose.
Related Tags: mortgage, reverse mortgages, california mortgages
Author is a writer for Sleep Well Baby which specializes in white noise machines and natural sound machines. For more information you can visit www.SleepWellBaby.com. Your Article Search Directory : Find in Articles
Recent articles in this category:
- The Beginning of the Cataloging Code
The first significant cataloging code was published in 1841. The realization that cooperation and s - In the Lap of the Gods 24
Life moved on. Lily became well liked by both students and staff because of her cheerful outlook on - In the Lap of the Gods 23
Does fate decide the future? Is it all mapped out for us, predestined, or can we influence what com - Write Your Memoir: How to Write About What Troubles You the Most
Everyone has a story to tell, and unfortunately those stories aren't always pleasant. What makes me - How Crafty Word Order Can Instantly Improve Your Writing
by Philip Yaffe I am usually very reticent about offering writing tips. Unless they are linked to - You Say Grandpa, I Say Deda
I was born with two grandmothers but only one grandfather. In nature's rules of familial supply and - My Russian American Dichotomy
I was a Russian girl and an American teenager. I had no choice about the first but I tried very har - In the Lap of the Gods 22
This is just an explanation for those who have read some of the other Chapters of, "In the Lap of t - Write a Book: 8 Reasons You Should Do it
Studies have shown that 82% of people want to write a book, but few of these actually ever achieve - Book Review: the Book of Common Prayer
Book Review: The Book of Common Prayer, "My carry-with-me copy is this size, and I recommend it for
Most viewed articles in this category:
- Real Estate Investment - Investing In Commercial Properties
As in any other type of investment, its obviously advisable to do your research well so that the pro - Taking Care Of Acne Prone Skin With Proper Skin Care Products
Although acne has been largely associated with teeners and puberty, the condition is not only confin - Do I Really Need Eight Hours Of Sleep Each Night?
What if you were told that there is no definitive answer for why we need to sleep? Your initial reac - How to Improve Your FICO Credit Score
If you didn't know this already, having a good credit score is more important than having a lot of c - 10 Tips for a Magnificent Memory
"Where did I leave my keys?" "What did I come in here for?" "Your glasses are on top of your head!" - Things You Might Like To Know About Card Companies
If you have a regular income and are 18 or over then you may be able to get a credit card. You will - Bad Breath in Babies and Toddlers
If your baby or toddler has had bad breath lately, not to worry. There are plenty of things you can - Starving College Students No More
The majority of today's college students are extremely Internet savvy. In fact, many of those studen - Cosmetic Surgery Financing: How Can You Get It?
Cosmetic surgery, a branch of plastic surgery, can be quite expensive, especially if you are plannin - Article Marketing, Improve Your Ranking With Links
Article Marketing, without a doubt remains the best free formula for attracting website traffic. At