A reverse mortgage and a home. equity conversion mortgages (HECM) are both types of loan products that allow homeowners to tap into the equity they have built up in their homes. However, there are some important differences between the two.
READ MOREIf you are looking for a way to diversify your investments while also making it easier to go on vacation, you may have thought about purchasing a vacation home.
READ MOREThere are a number of significant advantages that come with homeownership, and one of the biggest advantages is the ability to take out a home equity loan.
READ MOREHome equity is the difference between what your home can sell for and what you owe on it. Generally, the longer you own your home, the more equity you build.
READ MOREHomeowners who have equity built up in their homes can tap into that equity using a home equity line of credit, or HELOC. This financial tool can be a great way to accomplish a number of financial goals.
READ MOREThere are times in our lives when the idea of freeing up cash becomes desirable or necessary. Near retirement, this is a common consideration. The typical financial tool that many retirees want to know about is a reverse mortgage, but it’s not the only equity tool available.
READ MOREUS homeowners now have over 5 trillion dollars in home equity which is a very large amount of money! So this year may be the year for a lot of cash out refinances and other home equity mortgage products. Most often, when you are purchasing a home, you are buying at or below the appraised value and you are making a down payment.
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