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51). Reverse Mortgages – Funding Retirement With people living longer and longer, funding retirement can become a stressful situation. Reverse mortgages can help home owners avoid worries about cash flow. Reverse Mortgages Reverse mortgages are essentially a method for turning the equity in your home into cash. Although there are various options, a typical reverse ... 52). Selling Your Home - Don't Be A Victim Selling your home can be a complex process. If you make mistakes, you may be unable to sell you home or have seller's remorse. There's no need for this if you keep in mind the following. Overpricing Your Home It's important to be realistic about the value of your home. Sellers should insist their realtors present them with... 53). Subprime Mortgages – Information Undoubtedly, you’ve heard the radio commercial claiming you can get a mortgage despite having bad credit. Bad credit mortgages are better known as subprime mortgages. Subprime “Subprime” is a euphemism for a borrower who simply doesn’t qualify for a traditional home mortgage. Subprime loans used to be very difficult to ge... 54). Tax Reform – Limit of Mortgage Tax Deduction A committee appointed by President Bush has come up with an alarming recommendation. They want to limit the tax deduction for mortgage interest! Reform Following his re-election, President Bush set up an aggressive agenda in which he hoped to reform social security and the tax code amongst other things. As with many things... 55). Types of Mortgage Loans – The Basics In the past, homebuyers more or less had limited mortgage loan options. These days, there are more options than you can shake a stick at, but here’s a primer on the basics. Mortgage Loans With the real estate market explosion over the last 10 years, a call has gone out for unique mortgage loan programs. Bankers have been m... 56). Understanding Credit Scores and Repairs If you are applying for a mortgage, you're going to have to deal with credit scores. Here's a primer on credit scores and methods for improving them. Credit Report Step one in the process is making sure that you have a current copy of your credit report. Congress recently amended the Fair Credit Reporting Act so that consu... 57). Understanding Mortgage-Backed Securities The housing boom of the last seven years has been one of the biggest ever. Mortgage-backed securities are one reason for the torrid pace of real estate growth. Understanding Mortgage-Backed Securities A mortgage-backed security is essentially a bond. Investors purchase interests in the mortgage security and your monthly mo... 58). Understanding Prepayment Penalties on Home Loans Mortgage lenders prefer certainty to chaos. Some lenders take this concept to its logical conclusion in mortgages by inserting prepayment penalty clauses. Understanding Prepayment Penalties on Home Loans When a mortgage lender evaluates a loan application, it performs a number of analyses to determine risk and profit scen... 59). Using Points To Cut Your Interest Rate The general mantra in the real estate world is you want to avoid paying points when obtaining a mortgage. As with most assumptions, this is not always true. Using Points To Cut Your Interest Rate When discussing mortgages, it is important to understand what points are. Points are essentially an upfront cost you pay a lend... Browse Pages: [1] 2