Juhani Tontti offers the following royalty-free article for you to publish online or in print. Feel free to use this article in your newsletter, website, ezine, blog, or forum. ----------- PUBLICATION GUIDELINES - You have permission to publish this article for free providing the "About the Author" box is included in its entirety. - Do not post/reprint this article in any site or publication that contains hate, violence, porn, warez, or supports illegal activity. - Do not use this article in violation of the US CAN-SPAM Act. If sent by email, this article must be delivered to opt-in subscribers only. - If you publish this article in a format that supports linking, please ensure that all URLs and email addresses are active links. - Please send a copy of the publication, or an email indicating the URL to [email protected] - Article Marketer (www.ArticleMarketer.com) has distributed this article on behalf of the author. Article Marketer does not own this article, please respect the author's copyright and publication guidelines. If you do not agree to these terms, please do not use this article. ----------- Article Title: Why The Reverse Mortgage Loans Are So Useful For Seniors Author: Juhani Tontti Category: Word Count: 453 Keywords: reverse mortgage loans,reverse mortgages,what is a reverse mortgage,how does a reverse mortgage work Author's Email Address: [email protected] Article Source: http://www.articlemarketer.com ------------------ ARTICLE START ------------------
The reverse mortgage loans offer a chance to put together an income package, which fits exactly for the purposes of the borrower. I do not write about how does a reverse mortgage work, because I have done that so many times. Today I will write about the benefits it offers to a senior. 1. The Reverse Mortgage Loans Give Cash Against The Home Equity. Usually, when a senior needs cash, he thinks to sell the home or to borrow against the home equity and then pay back by monthly installments. The reverse mortgages work differently and the main benefit is that there is no monthly installments. Everything will be paid back at the closing, i.e. when you move away permanently, die or sell the home. 2. The Only Requirement Is That You Are The Home Owner, At Least 62 and American. The reverse mortgage loans offer this great benefit, so when you apply this loan, there is no credit information required. They do not ask your income either, nor your health status. When you have taken the reverse mortgage loan, you will still be the owner of the house. 3. There Is No Restrictions, How You Will Use The Money From The Reverse Mortgage Loan. This is really flexible. You can buy a home for your child, pay your medical bills, travel, make home improvements, buy a new car or whatever you like. You alone will decide the purpose. However it is wise to think, that the reverse mortgage loans are really loans, which will be paid back and that the more you take, the more it will eat the value of your home. 4. Reverse Mortgage Loans Are Flexible: You Decide When You Get The Money. Your personal needs will determine how the loan is paid to you. If you have a home repair in the plan, you may want a bigger upfront sum and after that the monthly payments. Or you want one upfront sum and then a credit line, which you will use, when you have to. 5. The Reverse Mortgage Loans Are Separated From Your Other Assets. When the loan will be closed, all costs will be paid plus of course the capital and the interests. The money comes from the selling price of your home. Now it can happen, that the value of your home will not cover all the costs. The difference will be covered from the compulsory insurance, so the lender cannot take any other assets from you for this purpose. Then there is a group of details, which you have to handle, when you will meet the counselor face to face or by phone. For this meeting it is useful to prepare a list of questions, because only then these professional people can advice you. Juhani Tontti, B.Sc., Marketing. The Reverse Mortgages Have Great Benefits For American Seniors. Before You Apply, Learn Carefully What Is A Reverse Mortgage And How Reverse Mortgage Loans Fit To You. Visit: http://www.ReverseMortgageEarnings.com ------------------ ARTICLE END ------------------ [Non-text portions of this message have been removed]
