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Mortgage Professor about reverse mortgage lender: | |||||||||||||||||||||||
Can You Buy a House, Then "Reverse Mortgage" It?
October 4, 2004 "My wife and I are 64 years old and can qualify for a reverse mortgage on our current house, but we want to relocate first. Can we buy a new house with a "forward" mortgage, and then take out a reverse mortgage?" Yes, but you will ... more... Borrower Protection on FHA Reverse Mortgages 2 May, 2005 "I fear that some elderly homeowners who take out FHA reverse mortgages will not receive all the payments to which they are entitled. FHA insurance protects the lender, not the borrower. When you consider that payments to the borrower must continue for ... more... |
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reverse mortgage lender related definitions |
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Reverse Mortgage
Reverse Mortgage, Reverse Annuity Mortgage, RAM A form of mortgage in which the lender makes periodic payments to the borrower using the borrower's equity in the home. A mortgage used by the elderly that provides income as a way of converting their home equity into a ... more... Back End Pionts vs Front End Points Back End Points vs. Front End Points A point is a type of mortgage slang for a percentage point. The technical term for point is loan origination fee. In laymen terms, a point is a fee you pay to a lender or broker ... more... |
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