Health Hazards of Tablet Use
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NCOA Publishes Reverse Mortgage Info (VIDEO)
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NCOA Publishes Reverse Mortgage Info
- Myth #1: A reverse mortgage works the same as any other type of home loan.
A reverse mortgage is a special type of loan for homeowners aged 62 and older that lets you convert a portion of the equity in your home into cash. But unlike a traditional home equity loan or second mortgage, you donÛªt have to repay the loan until you either no longer live inåÊthe home as your principal residence or you fail to meet the obligations of the mortgage.
Learn more about how reverse mortgages work in their free consumer guide: Use Your Home to Stay at Homeã¢.
åÊ - Myth #2: Most reverse mortgage borrowers use their loan funds for vacations and other fun things.
The truth is that most borrowers today use their loans for immediate needs, such as paying off their existing mortgage or other debts.
Learn more about ways to improve your budgeting and save money with their Savvy Saving Seniorsã¢.
åÊ - Myth #3: Reverse mortgages are too expensive.
Taking out any home loan can be costly because of origination fees, third-party closing charges (such as an appraisal, title search, and recording costs), and servicing fees. You can pay for most of these costs as part of the reverse mortgage loan. Borrowers who select a traditional HECM Standard reverse mortgage also must pay a hefty upfront FHA mortgage insurance premium that can be as much as 2% of the value of their home. But this insurance guarantees that you will receive the expected loan payments.There are many factors to consider if you are thinking about using your home as a financial resource. Take a free Quick Check to explore the cost and benefits of tapping home equity through a loan or by selling your house at Home Equity Advisor.
åÊ - Myth #4: Reverse mortgages should only be used as a last resort.
ItÛªs never a good idea to make a financial decision under stress. Waiting until a small issue becomes a big problem reduces your options.
If you wait until you are in a financial crisis, a little extra income each month probably wonÛªt help. Reverse mortgages are best used as part ofåÊ a sound financial plan, not as a crisis management tool.
Find out if you may qualify for help with expenses such as property taxes, home energy, meals, and medications at BenefitsCheckUpå¨.
Find the answers to these other myths by reading the full post.
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Myth #5: Most people who take out a reverse mortgage are elderly widows
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Myth #6: A fixed rate reverse mortgage is always a good ide
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Myth #7: Reverse mortgage counseling is a waste of time.
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Myth #8: Most reverse mortgage borrowers who end up facing foreclosure were scammed.
Obesity is InHUMANe
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| That’s a fat cat. |
In a month that celebrates Adopt-a-Dog Month and National Cat Day, it is only appropriate that we have this.
Cummings School of Veterinary Medicine at Tufts University in Massachusetts has opened the nation’s first weight-loss center catering exclusively animals.
Obesity can lead to potentially deadly health problems in animals as surely as it can in humans. Dogs and cats aren’t prone to coronary artery disease, which is a leading obesity side effect in humans, but extra pounds increase pets’ risks of breathing problems, diabetes, and joint problems, reducing the animals’ quality of life and life expectancy.
The vets at Tufts say it can be hard for doting pet owners to say no when their animals beg for food. The clinic aims to treat 600 patients annually by 2015, researching new methods to prevent and treat pet obesity, and teaching owners how to make sure their dogs and cats get proper nutrition, while helping them figure out how to find time in their busy schedules to exercise their pets.åÊ
