Wondering what a reverse mortgage is? Here are the pros and cons of a reverse mortgage, so you can figure out whether it's the right fit for you.
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"Many people have to turn to home equity as part of their retirement plan, because typically half of their net worth is locked up in the form of home equity," says Stephen Chen, CEO of. to the next.
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Half of HECM homeowners have 50% of more of their net worth in their home's equity.. Created as a solution to a newly widowed wife, reverse mortgages have .
HUD 100 Down Program Overview All loans require borrowers to make a minimum $100 downpayment. The standard fha policy requiring that borrowers make a 3.5% investment is not required for the FHA $100 Down hud repo program. borrowers may not receive any cash back at closing. The LTV may exceed 100%, up to 110%, only if funding a repair escrow included in the sales contract.
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Advisers now are promoting reverse mortgages as a valuable tool for retirement planning, thanks to. More in Encore: The New Retirement.
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