Reuters – The Securities and Exchange Commission has urged banks to publish more details about their exposure to European sovereign debt, a factor in the recent bankruptcy of the futures brokerage MF Global Holdings Ltd .
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Read More »Since the Reverse Mortgage for seniors program is all the rage these days, let’s take a look at what is required to qualify for and to get a reverse mortgage. In the United States, a person must be at least 62 years of age and own their home to qualify for a reverse mortgage.
A reverse mortgage allows you to convert the equity in your home into a lump-sum payment, monthly income, or a line of credit. Why would you want to do that? Well, it can be a useful strategy in retirement, if you want some extra income. It’s called “reverse” because it reverses the direction of the payments: instead of building up equity in your house by putting the money in, you actually reduce equity in the house by taking money out.
Like most loans, you will pay an origination fee, appraisal fee, title fee, escrow fee, recording fee, and a monthly servicing fee. These fees can be included in your loan balance, if there is enough equity available. No payments are made on the loan until you no longer occupy the home as your primary residence. When you move or sell your home, the loan balance is due and payable. However, the loan balance is never allowed to exceed the value of your home.
There are things that do not affect eligibility for a reverse mortgage, like Income, Credit History, Discharged bankruptcy and health of the homeowners. You might be asking, How is my equity determined? The allowable equity is calculated based on three factors. First the youngest borrower’s age, Secondly the appraised value of your home and third the FHA maximum loan limit for your country.
To ensure that you enter into a reverse mortgage with your eyes fully open and to ensure that you are not taken advantage of or scammed, there is a Federal requirement that you must obtain financial counseling from a source that is approved by the Department of Housing and Urban Development (HUD). Do not discount this counseling. It is very valuable and can usually be obtained for free or at a very low cost. It is best that you get such counseling from an independent source.
Reverse mortgages have helped hundreds of thousands of homeowners improve their quality of life in retirement. A Reverse Mortgage can help you retire more comfortably. It can provide you with money when you need it most. No Monthly Mortgage Payments, Easy Qualification, Tax-Free Money and No cash needed for closing costs. Can it get any better? If you’d like to find out how much money you qualify for and if you’re eligible, give us a call at (800)630-0650 and we’ll be more than happy to answer all your questions.
Tim Jacobs
Golden Years Mortgage Solutions
Your Money…When You Need It
www.GoldenYearsMortgageSolutions.com
(800)630-0650
tim@goldenyearsmortgagesolutions.com
Tim Jacobs @ Golden Years Mortgage Solutions www.GoldenYearsMortgageSolutions.com (800)630-0650 tim@goldenyearsmortgagesolutions.com Golden Years Mortgage Solutions is a reverse mortgage approved FHA Lender. We’ve helped thousands of senior homeowners solve their financial problems. Our agents and brokers collectively have over 60 years of experience in Reverse Mortgage Loans and general financial services, including managers who are industry pioneers with more than 12 years of reverse mortgage experience. Our dedication to providing financial solutions for seniors is evidenced by the number of referrals that come from our existing clients.
Tim Jacobs @ Golden Years Mortgage Solutions www.GoldenYearsMortgageSolutions.com
Read More »It’s not uncommon to find a plaintiff in a pending lawsuit that is in serious debt. A lawsuit can take a large financial toll on a plaintiff; especially if the pending lawsuit is related to an injury or accident. This type of situation usually leaves the plaintiff unable to work and in the process of seeking compensation from the defendant in the case. Since US civil court cases can take many months if not years to reach a verdict the plaintiff can get into serious financial trouble. However, there is a solution that plaintiffs can use to prevent serious debt and even bankruptcy; a lawsuit pre-settlement loan.
Plaintiffs looking into a pre settlement lawsuit loan will learn quickly it’s a simple concept, and that it can benefit them throughout their pending case. A settlement loan is basically a loan given to a plaintiff based on the merit of their lawsuit. A lawsuit loan provider will review the current case, speak with your attorney and review past related cases prior to giving the plaintiff any pre settlement funds. Usually the plaintiff can expect a reply within 24 to 72 hours after the application has been submitted.
One of the best features of a settlement loan is the fact it’s a non-recourse debt. This is for the simple fact that the plaintiff is only required to repay the loan if they win their lawsuit. Yes, the plaintiff needs to “win” to pay back the lawsuit loan, if they lose their case they are not required to pay back the original loan. So, this key feature allows plaintiffs to know that in case they lose their case they won’t be in even more debt afterwards with a pre settlement loan.
The approval process of lawsuit loans is pretty straight forward; as explained earlier the provider will review the current case, speak with your attorney and review past related cases. They “do not” need to review your credit history, income status or employment; these factors do not play a role in a settlement loan approval process. You can safely apply knowing the only thing that matters in getting approved is the merit and current status of your lawsuit.
If you do win your pending lawsuit you would be required to pay back the original amount loaned, any fees plus interest on the initial loan amount. Interest rates vary between settlement loan providers and usually are based on the amount of money loaned and the merit of that specific lawsuit. If you’d like to learn more about lawsuit loans or even apply online right now then continue below.
Want to learn more about a lawsuit settlement loan? Then visit the Legal Settlement Loans website today, where you’ll find information regarding the benefits of a settlement loan and be able to apply for a settlement loan online.
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Source: Penny Stock Newsletter
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Read More »President Barack Obama believes a quick, negotiated bankruptcy is the most likely way for General Motors Corp. to restructure and become a competitive automaker, people familiar with the matter said.
Obama also is prepared to let Chrysler LLC go bankrupt and be sold off piecemeal if the third-largest U.S. automaker can’t form an alliance with Fiat SpA, said members of Congress who were briefed on the GM and Chrysler situation before the president said two days ago that the automakers’ viability plans were insufficient.
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