Comments on: The Essential Reverse Mortgage Factsheet http://www.mint.com/blog/goals/the-essential-reverse-mortgage-factsheet/ The blog of the free, simple personal finance solution. Track all your spending automatically, find the best deals, save more money. And save the world. Sun, 12 Feb 2012 05:07:51 +0000 hourly 1 http://wordpress.org/?v=3.1.3 By: FHA STREAMLINE REFINANCE http://www.mint.com/blog/goals/the-essential-reverse-mortgage-factsheet/comment-page-1/#comment-44263 FHA STREAMLINE REFINANCE Sat, 16 Jan 2010 17:40:28 +0000 http://www.mint.com/blog/?p=7120#comment-44263 Reverse Mortgage is really a nice way for the senior citizens. It could help them in making financial Strong. Thanks !! :) Reverse Mortgage is really a nice way for the senior citizens. It could help them in making financial Strong.

Thanks !! :)

]]> By: Virginia http://www.mint.com/blog/goals/the-essential-reverse-mortgage-factsheet/comment-page-1/#comment-42888 Virginia Wed, 09 Dec 2009 04:50:13 +0000 http://www.mint.com/blog/?p=7120#comment-42888 Not to be picky picky picky, but under the STOP section, "discus" really should be spelled "discuss" =) Not to be picky picky picky, but under the STOP section, “discus” really should be spelled “discuss” =) ]]> By: juanita http://www.mint.com/blog/goals/the-essential-reverse-mortgage-factsheet/comment-page-1/#comment-42562 juanita Mon, 30 Nov 2009 22:09:05 +0000 http://www.mint.com/blog/?p=7120#comment-42562 Everyone should understand, a reverse mortgage is still a loan. The worst thing that can happen is, you live longer than you think you will. You lose your house because you can't afford to pay the mortgage when it becomes due. Everyone should understand, a reverse mortgage is still a loan. The worst thing that can happen is, you live longer than you think you will. You lose your house because you can’t afford to pay the mortgage when it becomes due. ]]> By: jeffreyfrog http://www.mint.com/blog/goals/the-essential-reverse-mortgage-factsheet/comment-page-1/#comment-42552 jeffreyfrog Mon, 30 Nov 2009 19:23:50 +0000 http://www.mint.com/blog/?p=7120#comment-42552 Before you refinance both into a single mortgage, make sure that any savings in payments will cover the costs of refinancing. Sorry, no one refinances a mortgage for free. Also, make sure that the combined interest costs of your first two mortgage payments are definitely higher than the interest cost on the proposed refinancing BEFORE you sign or go through the program. There are tons of online calculators that can help you with this, such as bankrate. com. Since rates are still historically low, you may still be able to refinance at a good rate. However, they have been increasing lately and all factors in your credit/payment history that were examined in your initial loans will come into play on the refinance, too. If all you are looking for is a "lower" monthly payment because you are planning on selling the house soon or moving, then just make sure that in the current market, that you can sell the house to cover back your finance costs. If all you are REALLY concerned about is paying ONE payment, then you could always just change your due dates to the same date, and have the payment drafted automatically at one time from your account. Very easy to do. <a href="http://themortgageguide.net" rel="nofollow">mortgage guide</a> Before you refinance both into a single mortgage, make sure that any savings in payments will cover the costs of refinancing. Sorry, no one refinances a mortgage for free. Also, make sure that the combined interest costs of your first two mortgage payments are definitely higher than the interest cost on the proposed refinancing BEFORE you sign or go through the program. There are tons of online calculators that can help you with this, such as bankrate. com.

Since rates are still historically low, you may still be able to refinance at a good rate. However, they have been increasing lately and all factors in your credit/payment history that were examined in your initial loans will come into play on the refinance, too. If all you are looking for is a “lower” monthly payment because you are planning on selling the house soon or moving, then just make sure that in the current market, that you can sell the house to cover back your finance costs.

If all you are REALLY concerned about is paying ONE payment, then you could always just change your due dates to the same date, and have the payment drafted automatically at one time from your account. Very easy to do.

mortgage guide

]]> By: Bobby http://www.mint.com/blog/goals/the-essential-reverse-mortgage-factsheet/comment-page-1/#comment-42444 Bobby Wed, 25 Nov 2009 18:25:07 +0000 http://www.mint.com/blog/?p=7120#comment-42444 I second John's request. Great idea. I second John’s request. Great idea. ]]> By: Pandy http://www.mint.com/blog/goals/the-essential-reverse-mortgage-factsheet/comment-page-1/#comment-42377 Pandy Mon, 23 Nov 2009 22:09:21 +0000 http://www.mint.com/blog/?p=7120#comment-42377 I came here looking for mints. I am not impressed. I came here looking for mints. I am not impressed. ]]> By: Jess http://www.mint.com/blog/goals/the-essential-reverse-mortgage-factsheet/comment-page-1/#comment-42252 Jess Thu, 19 Nov 2009 17:48:02 +0000 http://www.mint.com/blog/?p=7120#comment-42252 @Rick, Joe, ADML Good catch. The graphic has been fixed and updated. @Rick, Joe, ADML

Good catch. The graphic has been fixed and updated.

]]> By: Rick http://www.mint.com/blog/goals/the-essential-reverse-mortgage-factsheet/comment-page-1/#comment-42217 Rick Thu, 19 Nov 2009 02:06:02 +0000 http://www.mint.com/blog/?p=7120#comment-42217 Your chart is wrong. Where it says "Are you delinquent on any federal debt?" the "Yes" and "No" should be reversed. Your chart is wrong. Where it says “Are you delinquent on any federal debt?” the “Yes” and “No” should be reversed. ]]> By: joe http://www.mint.com/blog/goals/the-essential-reverse-mortgage-factsheet/comment-page-1/#comment-42216 joe Thu, 19 Nov 2009 01:41:50 +0000 http://www.mint.com/blog/?p=7120#comment-42216 delinquent on federal debt? i think you got your yes and no mixed up. delinquent on federal debt? i think you got your yes and no mixed up. ]]> By: ADML http://www.mint.com/blog/goals/the-essential-reverse-mortgage-factsheet/comment-page-1/#comment-42214 ADML Thu, 19 Nov 2009 00:45:59 +0000 http://www.mint.com/blog/?p=7120#comment-42214 You have to have delinquent federal debt to qualify? Are you sure the "Are you delinquent on any federal debt?" decision box isn't mixed up? You have to have delinquent federal debt to qualify? Are you sure the “Are you delinquent on any federal debt?” decision box isn’t mixed up? ]]>