The Reality In Reverse Loan Advertisements Chances are you’ll see appealing images of youthful retirees on the golf course or experiencing other recreational activities in a reverse mortgage advertisement. A reverse mortgage is a specific type of loan which enables  property owners 62 and older to borrow against the accumulated equity inside their homes. The mortgage has to be paid back once the borrower passes away, moves, or no longer resides in the house. Seniors pointed out the ads made reverse mortgages appear to be a great way to travel around and enjoy retirement while they were still young and active. However Americans live longer, more active lives than previously.…

Is It Possible To Get A Reverse Mortgage with a Manufactured Home in Corvallis OR? The quick response is yes. Even though the short answer is yes, there is much more to getting a reverse mortgage in Corvallis on a manufactured home. Reverse Mortgage FHA Specifications For Manufactured Homes In Corvallis Oregon 1. The house in Corvallis must have been constructed on or after June 15th of 1976. Dwellings constructed previous to June 15, 1976, even with improvements, don’t meet the HUD standards and cannot be accepted as compliant with the HUD Code. FHA will not insure mortgages on manufactured homes produced before June 15, 1976. The majority of mortgage…

Not only will reverse mortgage interest rates in Corvallis vary from bank to bank. Interest rates will vary depending on the loan product you choose to use. Below is a general guide on searching for the best interest rate on your reverse mortgage in Corvallis. 1. Fixed Rate Reverse Mortgage  – This typically will have the highest interest rate of all of the options available for you. Nevertheless, additionally it has the least amount of potential risk as you will know precisely how much you’ll owe on the loan anytime in the future. The down side to the fixed rate is that you are limited to the amount of equity…