Content provided in partnership with
Business Services Industry
New product offered: Reverse mortgage
Real Estate Weekly, June 7, 2000
Allied Mortgage Capital Corporation is offering a now loan product called a reverse mortgage, which requires no repayment on a loan against one's home.
Reverse mortgage is designed to help homeowners over the age of 62 increase their monthly income for the rest of their lives. With a reverse mortgage, homeowners are allowed to tap the equity they have in their homes and use the money to live on, pay off debts or eliminate any mortgage payments.
- Most Popular Articles in Business
- Research and Markets : Tesco Plc - SWOT Framework Analysis
- Do Us a Flavor - Ben & Jerry's Issues a Call for Euphoric New Flavors
- eBay made easy: ready to start an eBay business? These 5 simple steps will ...
- Katrina's lawsuit surge: a legal battle to force insurers to pay for flood ...
- Wal-Mart's newest distribution center opened last month near the southwest ...
- More »
Unlike a regular mortgage, a reverse mortgage does not require any income or credit standards to qualify or monthly repayments. Seniors must own their home and live in it for more than half a year to apply for a reverse mortgage. Repayment is deferred until death or the house is sold. The equity in the house pays the debt.
COPYRIGHT 2000 Hagedorn Publication
COPYRIGHT 2008 Gale, Cengage Learning
Find Research Guides for:
Most Popular Articles in Business
- Research and Markets : Tesco Plc - SWOT Framework Analysis
- Do Us a Flavor - Ben & Jerry's Issues a Call for Euphoric New Flavors
- eBay made easy: ready to start an eBay business? These 5 simple steps will ...
- Katrina's lawsuit surge: a legal battle to force insurers to pay for flood ...
- Wal-Mart's newest distribution center opened last month near the southwest ...
- More »