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What is a Reverse Mortgage?

Posted in: Homeownership, Q&A

A reverse mortgage, otherwise known as a Home Equity Conversion Mortgage, (HECM) is a loan, using your home as collateral, and where payments on the loan are not required monthly or at all. Instead the loan becomes due and payable only after the last homeowner either dies, sells the home or stops living in the home for 12 consec...

Housing Crisis Programs

Posted in: Homeownership, Q&A

The home-mortgage crisis in the United States has spawned problems in the mortgage, real-estate and banking industries, and many consumers now face mortgage-payment increases in the coming months that could cause the number of foreclosures to climb even higher. Here are two valuable resources for consumers in need of help with t...

To Rent or Buy or a Home? 4 Factors You Need to Consider

Posted in: Homeownership, Q&A

To rent or to buy? It’s a question most consumers ponder at one time or another, yet the correct answer varies as much as individual life circumstances do. While your financial state is a major factor, it’s not the only factor you need to consider. Let’s take a look at the big picture: Financial Readiness Are you prepare...

Tips for Evaluating a Home Warranty Policy

Posted in: Homeownership, Q&A

When you purchase a home – whether or not it’s brand new – you will likely be offered a home warranty, but what does it cover, and is it a worthwhile expense? What is a home warranty? It’s a form of insurance or loss mitigation that offers discounted repair services or replacement of your home’s appliances and m...

What You Need to Know About Short Sales

Posted in: Homeownership, Q&A

As many people continue to struggle to make their mortgage payments, they are considering all options that may help them get out of their home. With the drop in home values, one of these options is a short sale or discounted payoff. A short sale is when a lender agrees to release the lien and approves a sale on a home that is fo...

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