Best Reverse mortgage Lenders 2012

Warning on reverse mortgages

The best reverse mortgage will depend on your own particular circumstances, and crucially, how you intend to use the money. There is never any single answer as to which is ‘the best’, and indeed the Australian reverse mortgage market changes constantly so making any sweeping recommendations is fraught with danger. One of the few certainties is that using a SEQUAL accredited equity release broker such as Seniors First can often be a better way ensuring you find the right solution. A good equity release / reverse mortgage broker will explain how it works, list all the pros and cons, and provide easy access to multiple lenders.

  • the interest rate – the cheaper the better, in most cases
  • any monthly fees – try and avoid where ever possible
  • redraw fees – can be costly if used incorrectly
  • loan to value (LVR) ratios – the percentage of home equity you can release varies greatly between the banks, depending on your age

VETA bill: H.R. 2910/S. 1718 today

2007-07-10 16:49:46 by rewinn

"The VETS bill addresses the loopholes that have faced tens of thousands of veterans such as Todd Bowers, IAVA's Director of Government Affairs. He returned from a second tour of duty in Iraq, only to confront serious hardship. "I was almost finished with my summer semester at a private university when I was deployed right before my finals. The school did not offer me a refund or give me the option to take my finals early or repeat the course when I returned. A withdrawal notation was placed on my transcript. When I returned home I was given only a limited period of time to take my finals and my grades suffered accordingly

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  • Avatar tt How can I find out which bank my grandfather had a reverse mortgage?
    Jul 20, 2013 by tt | Posted in Renting & Real Estate

    My grandpa died in December 2012. Supposedly his house was in reverse mortgage. My uncle says he hasn t been I m contact with the banks and he does not know when they will take the house. There has been a lot of greed going on. I just want to know how I can find out who owns the house or who themortgage lenders are. I thought the heirs were supposed to pay back the mortgage to keep the house or sell it.

    • The bank has investigators who look for indications that a borrower has died, but unless it s a local bank, it takes a while before they find out he s dead unless someone tells him. What I would do after you look through all your grandfather s papers, is call the county courthouse. There s a lien filed with his name, property identification and the name of the lender. You have 6 months to pay back the loan, with one extension of 6 months. The clock started when he died, so you need to actor whoever the executor of the estate is. The heirs can pay off the mortgage with a new mortgage if they …