Reverse Mortgage Companies in Georgia

Is a reverse mortgage right

What You Need to Know to Survive Your Golden Years in Georgia

Georgia seniors: do you own your own home and wish you could generate a little extra income each month? Or do you have necessary home repairs for which you have no income?

Find out what types of lenders offer reverse mortgages and if any low-cost public loans are available for financial relief.

FHA Loan Limits in Georgia and Federally Insured HECMs

The Federal Housing Authority mortgage lending limits vary from state to state and county to county and are based closely on the area home values. But the FHA limits are also a key factor in determining what senior borrowers qualify for the federally insured Home Equity Conversion Mortgage, or HUD’s reverse mortgage program. Over 90% of the nation’s reverse mortgages are the HECM, but for borrowers with homes valued above the local FHA limit, a HECM may be useless.

Most Georgia counties have FHA limits at the national average. Exceptions are counties just north of the Atlanta metro area where home values have shot up in the last few years.

Georgia Low-Cost Single Purpose Loans for Tax Deferral or Home Improvement

Many states offer seniors special loans not unlike a reverse mortgage that are based on the borrower’s home equity. These special loans or programs are typically provided to offset costs related to property taxes or home improvement or repairs. Often these programs are called property tax deferrals (PTDs) or deferred property loans (DPLs).

Look at what is happening in India too

2007-10-21 16:26:18 by -----

Unveiling its half-yearly forecasts, the IMF said the world was increasingly dependent on the strong performance of the three leading developing countries - China, India and Russia - at a time when the west was struggling to cope with financial market turmoil. The IMF’s world economic outlook said that growth rates of more than 11% in China, 9% in India and almost 8% in Russia meant the three nations “alone accounted for one half of global growth over the past year”.
“Like a forest that has not seen a fire in many years, a benign financial environment had built up a sizeable ‘underbrush’ of risky loans, relaxed lending standards and high leverage in certain areas

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  • The Title Insurance
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  • The HUD-1

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