An HEMC Saver loan can offer an excellent alternative loan option for seniors who are considering which Reverse Mortgage option will work best for them.
Archive for November 2011
Senior citizens have the option of obtaining a Home Equity Mortgage Conversion HEMC loan, also known as a Reverse Mortgage. This loan allows them to borrow money using the equity in their home to secure the loan. This loan is available to individuals aged 62 or older. If a couple wants to take out a [...]
A Reverse Mortgage may make financial sense for seniors. Before taking out a reverse mortgage loan, borrowers should be aware of all of their rights and obligations.
Although reverse mortgages are generally a safe product, two loan officers working at the First Continental Mortgage, with offices in Boca Raton and Fort Lauderdale were sentenced on November 4th 2011 for their role in scheming to defraud the Federal Housing Administration (FHA) and the Genworth Financial Home Equity Access Incorporation.
The two loan officers solicited [...]