The Reverse Mortgage Book: Everything You Need to Know Explained Simply
Written on April 20, 2010
- ISBN13: 9781601382139
- Condition: NEW
- Notes: Brand New from Publisher. No Remainder Mark.
Product Description
Recent estimates have shown that there are more than 100,000 active reverse mortgages in the United States, and that number is on the rise. Reverse mortgages allow people over the age of 62 to release the equity in their property and defer payments until the homeowner dies. As these mortgages become more and more popular, it is becoming increasingly important for senior citizens to understand the process and the features of this unique loan. The Reverse Mortgage Boo… More >>
The Reverse Mortgage Book: Everything You Need to Know Explained Simply
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Filed in: General.
This book is essential if you or someone in your family is considering, or wants to learn more about, a reverse mortgage loan. It walks you through the process from borrowing to repayment in a conversational, easy-to-read format. There are plenty of side-by-side charts and tables that provide excellent illustrations of the ins and outs of the complicated aspects of the process. Additionally, you can read about real life situations that are very helpful for you to see how a reverse mortgage can work for you.
The Reverse Mortgage Book provides precise information on each of the types of reverse mortgages that are available. You will find information about the ways in which you can receive your payments, and all of the incumbent fees and costs that may come with this kind of loan are revealed. It outlines how to protect yourself and how you are already protected. Checklists are provided covering all the points to consider before making each decision, such as how to choose a lender.
You will get straightforward advice about how to discuss the ramifications of your decision with those who will be affected, and even a section devoted to the adult children of those considering getting a reverse mortgage. You can find the answers to Frequently Asked Questions, some common mistakes to avoid, and even information about current legislation. At the end, there is an exhaustive section of state-by-state resources for reverse mortgage counselors.
This is a comprehensive guide written in everyday language that all homeowners can understand.
Rating: 5 / 5
Bailouts, bureaucrats and broken systems. Three causes of the current crises that is sending jitters through America, especially those who were planning a retirement in the near future. Housing is in the dumps and our money may be tied up in a dwelling that seems to lose money daily. But Cindy Holcomb, author of “The Reverse Mortgage Book, seems to have hit upon an option that, if all the rules and regulations are followed, will allow for those over 62, ostensibly the hardest hit in the fixed income arena, to tap money out of their home and salvage a lifestyle that may have been jeopardized by the current state of our economy.
As Ms. Holcomb explains with simple, everyday language in “The Reverse Mortgage Book”, by taking a reverse mortgage, the equity that has built in the house is returned to the owner in monthly payments which can be used to supplement a fixed income, provide money for bills, or, in the cases where a parent has become unable to care for themselves, allow a child, with the proper legal wrangling, to secure money to take care of his/her parents.
Along with her simple guidelines and in-depth explanations of the pros and cons of reverse mortgages, Ms. Holcomb has included over 100 pages of reference material that provides extensive contact information for many agencies from all 50 states that deal with reverse mortgages and their derivatives.
By making “The Reverse Mortgage Book” such an accessible reference, Ms. Holcomb has taken much of the mystery from an option that, until a few years ago, many Americans had never heard of. Perhaps she may be interested in coming up with something to help with the rest of the financial mess we seem to be treading in.
RATING:
4 stars
Rating: 4 / 5
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Product DescriptionRecent estimates have shown that there are more than 100,000 active reverse mortgages in the United States, and that number is on the rise…..