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] - Content Crooner (www.ContentCrooner.com) has distributed this article on behalf of the author. Content Crooner 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: The 5 Reverse Home Mortgage Benefits, Which Can Help Your Decision Author: Juhani Tontti Category: Loans, Mortgage, Mortgage Word Count: 410 Keywords: reverse home mortgage,reverse mortgages pros and cons,how reverse mortgages work,reverse mortgage Author's Email Address: [email protected] Article Source: http://www.contentcrooner.com ------------------ ARTICLE START ------------------
To put it simply, the reverse home mortgage works in the opposite way, than the traditional mortgage. With the traditional mortgage a senior pays every month a certain sum until the whole loan is paid away. The reverse home mortgage uses this capital and releases money to a senior every month but a senior must not pay back anything on a monthly basis. 1. Can I Get It, If I Have Traditional Mortgage Left? Yes, you can but you cannot have both at the same time. This means, that if you have a traditional loan left, you will first pay that away with the reverse loan. This is good, because this means an additional sum of disposable money to you every month. 2. Can The Bank Get My Home? There is one great principle with the reverse home mortgage and that is that you can never owe more than the value of your home. The lender can never use your other assets to pay the reverse loan capital or other expenses. That is why the lender will not ask about your credit score nor about your income. 3. What Does The Mortgage Insurance Do? When you will take the reverse home mortgage, you have to take a compulsory mortgage insurance. The law says so. The target of this insurance is, that in all cases the lender will get the loan capital and expenses and you avoid to use your other assets to pay the reverse loan expenses. If needed the mortgage insurance will take care about them. 4. Is The Counselor In The Bank Payroll? The reverse mortgage counselors are federal counselors, who are independent counselors and never in the payroll of any lender. So they can give useful and personal guidance without hard sales pitches. They can also give recommendations about reliable lenders, who have good reputations. 5. Can I Buy A House To My Child? Yes, actually this is one of the most popular way to use the reverse loan, because now the equity will be transferred from one property into another one. Actually the borrower will decide how he or she want to use the money. The loan terms does not include any restrictions about how the borrower can use the money. If you are interested about the reverse loan but are not sure, whether you will take it or not, I would recommend that you will meet the federal counselor. The counselor can give a lot of useful information about how to organize your senior years financially! Juhani Tontti, B.Sc., Marketing. Before you fully understand how reverse mortgages work, you have to know the reverse mortgages pros and cons to be able to make a wise decision. Visit: http://www.reversemortgageearnings.com Distributed by http://www.ContentCrooner.com ------------------ ARTICLE END ------------------ [Non-text portions of this message have been removed]
