Welcome to Home Equity Loans
Home Equity Terms Article
This is a selection made from among articles on Home Equity Terms. For a permanent link to this article, or to bookmark it for future reading, click here.
from:
Home Equity Loan - Reverse Mortgage - Money From Heaven?
By J Krohn
Somewhere in the neighborhood of 78 million Americans will be reaching retirement age in the next decade. It will put a strain on the social security system at the very least. At the worst....who knows. That's a discussion for another day.
The government is not the only ones that will feel the pinch. It is safe to say that most Americans haven't done a good job preparing for retirement so their resources are very limited. This is where a reverse mortgage can make growing older much more enjoyable. It would be money from heaven.
A reverse mortgage is available to homeowners 62 or older who own their own home. Like the name suggests instead of paying money in to build up equity in your home, a reverse mortgage allows for "withdrawals" literally for any use imaginable.
The money can be withdrawn in a lump sum, a line of credit to be used at the homeowners' discretion, regular monthly payments or a combination of the three.
The popularity of the product will no doubt bring about better rates and new wrinkles in the future as competition for this huge market heats up.
For millions of Americans who own their own home and have little else for resources it could be a lifesaver in many ways. One that comes to mind is long term health care. There's little public assistance for home care and you may not qualify for Medicaid to pay for nursing home care.
Most people given the choice would rather stay at their home as long as possible but the cost of home care is very expensive. The solution is a home equity loan reverse mortgage.
The money from a reverse mortgage can be used for anything from that life long dream of a trip around the world to paying off debts. As the graying of America continues one of the best uses of proceeds form Reverse Mortgage could be to pay for long term care either at home of in a long term care facility. Money from Heaven!
Jack Krohn is a leading free lance writer on Home Equity and Mortgage issues with over 50 articles to his credit.
To learn more about mortgages click on the links below.
Learn All About Mortgages Or Get Free Home Equity Loan Info.
Home Of The Best Self Defense Products.
Article Source: http://EzineArticles.com/?expert=J_Krohn
http://EzineArticles.com/?Home-Equity-Loan---Reverse-Mortgage---Money-From-Heaven?&id=855909
Home Equity Terms Specific links
See the Best Video Page on the Net!
- Click Here to Discover Mevio Absolutely Free!
-- http://www.mevio.com/
As always, we bring the freshest vids on the net
- Take a break and start laughing at this video you wont believe.
-- http://www.break.com/
McCaingels, Series Finale
- As the series draws to a close, the McCaingels strike deep into the heart of the Liberal agenda. Watch the Series Finale on Atom.com!
-- http://www.atom.com/
Howie Mandel from the Buy.com shoot
- See Howie Mandel show you how to get the best 'deal' shopping online at buy.com.
-- http://www.youtube.com/
Home Equity Terms News
National City offers cash to cut equity lines - Financial Times
National City offers cash to cut equity lines Financial Times, UK - Some banks, such as Bank of America, Wachovia and Chase, have frozen borrowers' access to home equity lines or changed terms to reduce potential home equity ... |
Profit from a plunging pound - Times Online
 Times Online | Profit from a plunging pound Times Online, UK - Some 50%-70% of the profits of FTSE 100 companies are made in dollars — meaning these companies are growing faster in sterling terms. ... |
Continuing Credit Crisis About to Get a Lot Worse - The Market Oracle
Continuing Credit Crisis About to Get a Lot Worse The Market Oracle, UK - The smaller banks are not cutting home equity lines and Rich says they are not experiencing abnormal losses. That is because they are local bankers who know ... |
Nigeria: Aid - Who Accounts to Whom And On Whose Terms? - AllAfrica.com
Nigeria: Aid - Who Accounts to Whom And On Whose Terms? AllAfrica.com, Washington - ... we have discussions about equity when every time we have dinner one diner always picks up the tabs even if such dinner is taking place in your own home? ... |
Bleak reality throws cold water over the optimists - Financial Times
Bleak reality throws cold water over the optimists Financial Times, UK - What has confounded many of the equity optimists in the past few days has been the failure of a long-desired catalyst. The price of crude oil has fallen 25 ... |
House prices are falling at fastest rate since the Great Depression - Telegraph.co.uk
House prices are falling at fastest rate since the Great Depression Telegraph.co.uk, United Kingdom - Negative equity is when a home owner ends up owning more on their mortgage than their house is worth, a situation that can cause serious problems – and ... |
A Wake-Up Call on Home Equity Loans - Washington Post
A Wake-Up Call on Home Equity Loans Washington Post, United States - By Michelle Singletary An increase in consumer complaints over the cancellation or reduction of home equity lines of credit has prompted one federal banking ... |
GRIM BRITAIN: BLUNKETT SAYS WORK TILL YOU DROP - UK Express
 UK Express | GRIM BRITAIN: BLUNKETT SAYS WORK TILL YOU DROP UK Express, UK - He also warned that home owners should plan to use the hard-earned equity they have built up in their properties to fund their care in old age rather than ... |
Best way to beat the beast of inflation - Scotsman
Best way to beat the beast of inflation Scotsman, United Kingdom - Use your annual Isa allowances (currently £7200 in all or £3600 in cash and £3600 in equity Isas) to ensure that interest and dividend payments are held in ... |
Fannie Mae and Freddie Mac bail-out talks continue - Telegraph.co.uk
 Wall Street Journal | Fannie Mae and Freddie Mac bail-out talks continue Telegraph.co.uk, United Kingdom - Under the terms of a conservatorship, which is best thought of as a pre-packaged bankruptcy, existing shareholders in both companies will effectively be ... Fannie and Freddie Bail-Out: How We Got Here and The Plan To Get ... |