What is reverse mortgages

What is a Reverse Mortgage?
By Christian Rios

Reverse mortgages are government insured home loans specifically designed for senior homeowners. This type of loan allows a homeowner to payoff their existing mortgage along with a combination of the following: establish a credit line, receive monthly checks, or withdraw cash. The amount of cash available depends on many factors, which we will discuss shortly.

If you choose to get cash with your reverse mortgage loan, you can choose from the following methods:

Tenure – equal, monthly payments.

Modified Tenure – line of credit combined with monthly payments.

Term – equal, monthly payments for a fixed period.

Modified Term – line of credit combined with monthly payments for a fixed period.

Line of Credit – payments or installments at the borrower’s discretion (much like a standard credit line – use the money only when you choose to).

Perhaps the most worthwhile benefit of a reverse mortgage is that the borrower will not be required to make any mortgage payments for the duration of their stay. That’s right: zero payments for the rest of their life or until they move from the home. As you can imagine, zero house payments could drastically alter a person’s lifestyle in a positive manner and could do so almost overnight.

In regards to qualifying for a reverse mortgage, there is yet another benefit that is often over-looked: you do not need to verify your income since the loan is based on your home’s value. There are no payments to be made, remember? Essentially, you do not need any income nor do you need an outstanding credit report.

When reverse mortgages were first introduced, they allowed the lender to have a stake in the future value of the home. In essence, the lender would profit from your equity even if it extended beyond the original loan amount. Fortunately for seniors, times have changed for the better: regardless if your home goes up or down in value, you will never owe more than the loan amount or your home’s current value, whichever is lower.

Another question often asked is: can I outlive my loan? You can never outlive a reverse mortgage loan. So long as you are alive and living on the property, you will never have a mortgage payment for your reverse mortgage. Nor can a lender take your home away from you. As long as you live in your home, pay your taxes and insurance, you can live indefinitely in your home without making a single payment.

The amount of money that can be borrowed with a reverse mortgage is dependent upon many factors, including but not limited to: the age of the borrower, the amount of money currently owed on the home, the interest rate, the value of your home, and FHA’s lending limits for your area. Typically, the older you are and the less money you owe on your home, the more you can borrow. However, every situation is unique. To get an accurate, approved loan amount, you should speak with an approved reverse mortgage lender or broker in your local area. Do not be intimidated about contacting a loan broker! HUD requires that you speak with an approved, HUD counselor prior to any loan funding to ensure that you are fully aware of how a reverse mortgage works. You may call 1-800-569-4287 to acquire a list of FHA approved lenders for your particular area. They can also give you names and phone numbers for HUD-approved counseling agencies.

Reverse mortgages are truly designed to help seniors live a higher quality life. If you or someone you know is 62 years of age or older, you should take the time to find out about a reverse mortgage.


Christian Rios is an x-loan officer for a major, US direct lender. He now specializes in educating home owners about available home loans. You can learn more about reverse mortgages here: angeles lender mortgage reverse. To learn more about traditional home refinancing, please visit: mortgage refinance information home loan refinance online. And if you're more interested in learning about a HELOC, please visit: compare heloc and refinancing.

Article Source: http://www.free-articles-zone.com

Mortgages

Financial advice for mortgages – best way, online!

By Rick Martin

No matter if you are interested in mortgages or you want to take up loans, the Internet represents the best source to get some sound advice. There are many areas of finance where anyone could use a piece of advice and this also includes the mortgage/loans sector. Understanding our monetary situation is important as we can avoid taking the wrong decisions and benefit from the help of true specialists in the field.

Let’s take a look at the types of mortgages that we can find presented online along with detailed descriptions and valuable suggestions. If you are considering your options for resolving financial difficulties, then remortgages can be just the thing for you. With the help of the Internet, you can see what remortgage is comprised of, finding out at the same time how you can improve your interest rate and check out some of the latest statistics on the market. What you should mainly know about mortgages in the first place is that they represent extremely important financial decisions. Do not rush into picking out one before being sure that you are ready to make an informed choice.

The appearance of online companies that offer advice tailored to ones needs and preferences has been welcomed by a lot of people. Many of them were uncertain on what are the pros and cons of different kinds of mortgages, not to mention which types of loans are more advantageous. The truth is that people need and want to be informed, especially when it comes to their finances. They want solutions and real answers.

That is also valid for adverse credit mortgages. You must not think that you cannot get loans or mortgages if you have bad credit history or CCJ (County Court Judgment). Use the Internet to find out the information you need about CCJ and other default details. Learn how valuable can be your credit file and ask for the advice of experts. Just keep in mind that you will definitely face a higher interest rate and you will be able to lend a smaller percentage of the value of your house.

And how about buy to let mortgages or first time buyer mortgages? Can the Internet provide us with all the information we need and what is even more importantly how much can we benefit from the advice given by loan specialists? Well, we can put all the info provided by these experts to good use and make sure that we make the right decision. The purpose of a mortgage is not to bury yourself completely in debts but to get over your financial difficulties and improve your financial situation. Buy to let mortgages represent very attractive options, borrowing common traits from homeowner and standard mortgages. The deposit to be made is a little bit higher and so is the interest rate. The rate can be fixed or variable, with minimum status or self cert. Not sure what are all these terms? Go online and listen to what these people have to say.

Apart from mortgages, such specialized companies can help you decide which types of loans are most suitable for your financial situation. They can provide answers to all of our questions and make sure that their advice is based solely on extensive knowledge of the current market fluctuations. There are a lot of factors that can affect your loan acceptance and you have to be aware of them all. First and foremost, keep in mind that there are two main types of loans: secured and unsecured. Then be sure to read all about the annual percentage rate, the adverse credit loans or credit score sheet. Every detail matters for your credit history, including default payments, CCJ and even your job. Why are the credit scores and the job type so important for loans applications? Well, because they can ensure you a better interest rate and you will certainly want to have that.

A loan is a decision that implies many elements to consider. The Internet can provide all the information you need to know on the subject but it is up to you to decide what is best for you. Do not be fooled by all the false promises of loan companies. Make sure that you have all the knowledge required and go for a reputable company. Find out what are the key factors that can have a positive effect on your loan application and see the requirements of various loans (personal, secured, bad credit and car loans). Keep a good credit history, do your own research and let experts highlight some of the advantages for you. This is the best way to go.


About the author:
Do you want financial advice on mortgages? Do you want to find out how you can benefit the most from taking on diverse loans? Come and discuss with our specialists. You will find our advice to be helpful and given at the right time. Our lines are open for you and your worries.
http://www.lifestyle-solution.co.uk/

Article Source: http://www.Free-Articles-Zone.com

How to Learn HTML

by: Cherie Ang

HTML is the abbreviation for HyperText Markup Language. It is a special code used for the creation of websites, and most Web designers know it, or they know a program that creates HTML for them. HTML can be a little frustrating and difficult to actually understand.

Steps

1. HTML reads left to right. First, you have to understand tags. Tags are placed at the beginning of whatever you want to

change. If you wanted to make a word bold, you'd put a tag at the beginning of the word, and at the end.

2. Tags begin with a less-than sign: . What goes inside the is the tag. Learning

HTML is learning the tag to perform whatever you want to do. Usually, the tag at the end has a / before the greater sign. For

example: Hello

- Every tag should begin with an opening and closing tag. If a tag only does not specifically use a closing tag [such as

or , which will you see below], then the tag should end with a slash inside of the tag. Thus, the previous tags would be

written as and , respectively.

- The tag for a paragraph is .

- The tag for bold is or .

- The tag for italics is or .

- In HTML, the tag must be placed around the code.

- The tag for a break (skip in the line, hitting to hitting "enter" on the keyboard) is .

- The tag is always around the text.

3. By now, you can write HTML using tags. But what if you want more? Here's some more codes:

To insert images:

To resize images: (size is adjustable)

Linking images:

4. There are many websites that explain HTML more in-depth. Some good sites are Funky-Chickens.com and

HtmlCodeTutorial.com.

5.Every HTML page start with and end with . It will tell the server that it is a html page. Within the

tag, the page consist of head and body section. The head section allows us to specify the title. The body section is the

content of the html page.

6. Now that we have tags down, let's see what we can make with the knowledge:

My Title Goes Here

I like to write a lot of HTML!

Tags are so much fun. You can do it, too!

Tips

If you're getting serious with HTML, buy Dreamweaver or Microsoft Frontpage. It teaches you codes and all. Both of them are

WYSIWYG (What you see is what you get) editor. Their functions is very similar to word processor. It will be easy to get

started with the 2 softwares. If you don't wish to spend money on the html software, there are some free html editors for you

to test out. One of them is Nvu, WYSIWYG editor, this software is very similar to Dreamweaver and Microsoft FrontPage.

Things You'll Need

A word processor, such as Microsoft Word, Notepad or BBEdit.

About The Author:
Cherie Ang

Funny stuff

This is a funniest thing that I heard!!!!!!!!

How To Estimate A Used Car’s Value

by: Gregory Ashton
When searching for a used car, one of the most important factors to consider is whether the car you are looking for really is worth its tag price. Even though the car may look like quite a deal, it is possible that you are being ripped off. Here are a few tips to help you make that decision when considering used cars.
1. Do a Little Research
When you find a used car that catches your fancy make sure you do research on that car. Find out how much that car costs if it were brand new. You should also look into whether the car is still in production and if its parts are still available. You could also try a little shop hopping to compare used car prices among cars of the same value and same age.
If a car’s price is too low, that should send you into a state of alarm. It is possible that the car is much more trouble than it is worth.
If it is too expensive, you may want to ask why that is so.
2. The Older the Car the Cheaper is Should Become
Brand new cars typically lose up to 30% in their value in 3 years, and by the time the car is 5 years old, it may have lost up to 65%. If you know the car’s original price, you may want to use this rule of the thumb for your estimation.
3. Use a Third-Party Information Service
Car Fax is a good way to find out about used car histories. They offer a service that will give you a detailed history of the car you are interested in. The information included will typically include accident history and insurance data.
Kelly Blue Book is one of the most comprehensive used car value listings around. It would be a good idea to take a peek into their services for an updated list of hundreds and hundreds of used car values.
4. Take a Mechanic with You
A car’s value is also directly related to its running condition. If you are not that well versed in mechanics and cars, you may want to take a mechanic along so that he or she can evaluate whether the car really is worth the used dealer’s tag price.
Some used car dealers will offer cars that are defective and try to hawk them by sweetening the deal. Beware of these kinds of car dealers.
Try to look for a reputable dealer. The past experience of your acquaintances will be very valuable in evaluating a car dealership.

About The Author
Gregory Ashton, your resident automobile enthusiast, bringing to you over 20 years of vehicular passion, and expertise; presents for your approval his insider secrets on selecting, buying, and maintianing the car that is ideal for you. http://www.best-car-buying-tips.com.

car hybrid

Let me tell you about my experience with cars.
Allmost a year ago I purchased my first used car and i felt so good that it didn't matter that it's not a new car (but that auto purchase wasn't easy). I even got a good price for it, just 2000 Euro. Now that price doesn't seem much to some but for me.... let just say that I hade to take a loan that I will payoff in 7 years. Just for ther record it's Fiat Bravo 1.6 16v (upper left corner of the topic) and you might see why it catched my eye.
But it was unregistrred and with a couple of thinks to take care of, but in the long run it seemed quite a bargain.
Then I realized a tru price of a car (offcourse, this is a Croatian price with a Croatian market). First I had to register and insure it witch costed me allmost half the price of a car(auto cheap insurance my ...), of course that's after it went through mechanical overall witch costed me around 250 Euro (oil, belt's, filter's etc.) not to mention new shocks and (for the lack of an english word) scissors also 250 Euro. But I forgoth about most important auto part which allmost costed me my life......TIRES!!!!

Then this happen'd and it costed me the other half of the price of my car and I lost 15% of my security discount at auto insurance company not to mention the humiliation of being a bad driver at work and a lote of wasted time finding cheap auto parts.
To make the matters worse, the dude that fixed my car did a badly job at repairing it, for example the bodywork was out of line and I allmost racked my machine becose there was no watter in the cooler (my temperature indicator wasn't working right) witch he didn't mention before I drove 20 km overheating the machine.
Can't say that it's not my fault becose it's only my hot head that caused this car accidente so I'm checking that under just another lesson in life.
After that, I did some thinking and figured out that my car has costed me 4500 Euro so far (almost 2 and a half of the car price). And when you ad 100 Euro for gas per month (aproximatly), new tires, new stuff that brake's down on top of regular insurance and tehnical check up each year two things come up my mind.......Drive safely or use public transportation :)

what about this blog

Hello surfers!!

I have created this blog for couple of reason's but I'm not going to neg you with lot's of why's and what's, instead i'll go right to the point.
I'm a man with no specific hobby, like to do many things (see the list on the right) and learn as much possible but nothing specific (you might say "I know that I don't know" :-) ), but what I don't like is to read or search for data on the Wery Big World Wide Web!!!!!
Instead I talk to people, debate with them, hear (and learn) what they know and compare information with other's to have a more accured information regardless to a topic (but I do surf the net occasionally)
With this I'm trying to tell you up start what can you expect from this blog......and that is everything but nothing specific.

So, hope you will enjoy the variety of different theme's that will be shown here, hopefully, on a regular bases and be free to coment or even correct me (specially on my english :-) ).