REVERSE MORTGAGE? WHAT IS IT?
January 22nd, 2010 categories: Buying, Market Trends, Real Estate Finance
Have you ever wondered about a reverse mortgage? I know I have. Mary Ellen Podmolik recently published an article in the Chicago Tribune that explains what a reverse mortgage is and how it operates. She gives both the pros and the cons. One of the significant negatives is the fact that the total cost of the fees can be up to 10 per cent of the loan amount. If your home is paid for and you are finding yourself strapped for cash, you might want to investigate a reverse mortgage. To read the entire article, just click here.
Do you need an experienced Realtor to help you identify a new home? I would love to be that Realtor–just call me at 312-981-2360, that’s my direct line or on my cell phone, 312-607-1306. I also like e-mail! In this day of electronic marvels, I can e-mail listings to you after we have identified the price range and neighborhood that suit you best. So, I am applying for the job of helping you find a new home.
Here are some other articles that you might find interesting:
Credit Boo Boo Down With Your Fico Score
Underwriting Can Be a Minefield
15 Year Mortgage vs. 30 year Mortgage
This entry was posted on Friday, January 22nd, 2010 at 2:24 pm and is filed under Buying, Market Trends, Real Estate Finance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
