Question

 Illinois Disadvantages of Reverse Mortgages?

Answer Reverse mortgages, termed HECMs (Home Equity Conversion Mortgages) by the Housing and Urban Development Administration, are home loans for seniors aged 62 and older. These loans came about to help ... Read More »
http://www.ehow.com/list_6851812_illinois-disadvantages-reverse-mortgages.html

Top Q&A For: Illinois Disadvantages of Reverse Mortgages

Are all reverse mortgages the same?

A Home Equity Conversion Mortgage, also called a reverse mortgage, allows seniors to borrow from the equity in their homes without payments. There are two different types of reverse mortgages, priv... Read More »
http://www.answerbag.com/q_view/1902480

When did reverse mortgages happen?

The initial reverse mortgage occurred in 1961 to a woman named Nellie Young. The mortgage was issued by Deering Savings and Loan, located in Maine. The Home Equity Conversion Mortgage (HECM) was ap... Read More »
http://www.answerbag.com/q_view/2233541

Does US Bank have reverse mortgages?

US Bank does not offer reverse mortgage programs for their customers. US Bank does, however, offer several mortgage programs and refinance options which include cashing out equity in the property.R... Read More »
http://www.answerbag.com/q_view/2263591

Reverse Mortgages & Bankruptcy?

Reverse mortgages--a strategy that allows older people to tap into the equity of their homes--have advantages and disadvantages. These types of loans help people who are at least 62 years old acces... Read More »
http://www.ehow.com/about_6532456_reverse-mortgages-bankruptcy.html


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