To qualify for a reverse mortgage, you must be at least 62 and have paid off all or most of your home mortgage. Income is generally not a factor, and no medical tests or medical histories are required. If you seek an HECM, you also must undergo free mortgage counseling from an independent government-approved “housing [...]
Archives for January, 2010
How to Increase Your Mortgage Bad Credit Rating?
Find Out How to Increase Your Bad Credit Rating and Get Your Mortgage Approved by a Mortgage Lender
Your credit rating is the reflection of how good or how bad your payment history actually is. If youre planning to get a mortgage loan and buy a new house for yourself, then what mortgage lenders will look [...]
How to Avoid Predatory Lenders in Mortgage Finance
It would be unrealistic to expect that such a huge industry with so much money flowing through “its’ veins” would fail to attract scam artists and predatory lenders.
First of all, let’s define predatory lender. Simply stated, it’s an individual or an institution that seeks out people who are either desperate, naive, or both. Then they [...]