Sunday, July 13, 2008

Settle your mortgage before you go for a vacation

As we know, most people are dependand on a mortgage to buy a house. The home must have some kind of equity. And, the home is the primary residence of the borrower. However, a customer has to secure this loan against the proposed house. Reverse mortgage lenders offer payment to the borrower either as a one-time lump sum or through regular monthly payments.

The good tip is to consult a counselor and know about the most suitable reverse mortgage schemes available before applying for one.

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