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 Sam
Site Admin
Joined: 21 May 2005
Posts: 281
Location: CALIFORNIA
117.49 Dollars($)
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 Posted: Wed Jun 02, 2004 12:01 am Post subject: Equity Release Mortgage |
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Equity Release Mortgage enables a person to enjoy the capital tied up in his property. It is also known as life time mortgage. It allows a person to release a percentage of the value of his property, either as - - Lump sum.
- Monthly cash release.
- A combination of lump sum and monthly cash release.
There are two types of equity release mortgage:
- Equity release cash plan mortgage - Gives a person a guaranteed fixed monthly release and the option of receiving lump sum cash as well.
- Standard equity release mortgage - Gives a person lump sum cash at the start of his mortgage.
Benefits of equity release mortgage are as following:
- There is an option to choose either a fixed interest rate or capped interest rate during the life of the mortgage.
- A person does not need to have an income to apply for an equity release mortgage.
- No monthly repayments are required.
- No negative equity guarantee.
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andy
Guest
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| Posted: Thu May 03, 2007 4:44 pm Post subject: reverse mortgage |
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| Reverse Morgage |
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colin
Moderator
Joined: 30 Jun 2006
Posts: 602
Location: Waltham, Massachusetts
112.65 Dollars($)
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| Posted: Thu May 03, 2007 4:53 pm Post subject: |
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Hi Andy,
Welcome to Mortgagefit forum.
You have not given much information, but it seems you want to know how reverse mortgage program works.
It is a home loan which is meant for senior citizens who are aged 62 or more and provides a means for them to convert equity in their homes into cash. You will get a clear idea of how the whole process works after you go through this page: Reverse Mortgage: Home loan for seniors
Colin |
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Louis A. Johnson
Guest
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| Posted: Sat May 23, 2009 6:48 pm Post subject: Rental Property |
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| Can Equity Release Options be utilized on income investment property? |
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