Amazines Free Article Archive
www.amazines.com - Thursday, December 12, 2019
Read about the most recent changes and happenings at Amazines.com
Log into your account or register as a new author. Start submitting your articles right now!
Search our database for articles.
Subscribe to receive articles emailed straight to your email account. You may choose multiple categories.
View our newest articles submitted by our authors.
View our most top rated articles rated by our visitors.
* Please note that this is NOT the ARTICLE manager
Add a new EZINE, or manage your EZINE submission.
Add fresh, free web content to your site such as newest articles, web tools, and quotes with a single piece of code!
Home What's New? Submit/Manage Articles Latest Posts Top Rated Article Search
Google
Subscriptions Manage Ezines
CATEGORIES
 Article Archive
 Advertising (133321)
 Advice (160962)
 Affiliate Programs (34735)
 Art and Culture (73690)
 Automotive (145680)
 Blogs (75057)
 Boating (9840)
 Books (17218)
 Buddhism (4125)
 Business (1328593)
 Business News (426311)
 Business Opportunities (366264)
 Camping (10962)
 Career (72734)
 Christianity (15844)
 Collecting (11637)
 Communication (115054)
 Computers (241956)
 Construction (38997)
 Consumer (49681)
 Cooking (17061)
 Copywriting (6567)
 Crafts (18204)
 Cuisine (7538)
 Current Affairs (20388)
 Dating (45780)
 EBooks (19687)
 E-Commerce (48204)
 Education (185249)
 Electronics (83499)
 Email (6392)
 Entertainment (159832)
 Environment (28937)
 Ezine (3039)
 Ezine Publishing (5446)
 Ezine Sites (1550)
 Family & Parenting (110900)
 Fashion & Cosmetics (196390)
 Female Entrepreneurs (11842)
 Feng Shui (130)
 Finance & Investment (310274)
 Fitness (106141)
 Food & Beverages (62868)
 Free Web Resources (7938)
 Gambling (30225)
 Gardening (25108)
 Government (10513)
 Health (629557)
 Hinduism (2205)
 Hobbies (44044)
 Home Business (91557)
 Home Improvement (251361)
 Home Repair (46137)
 Humor (4823)
 Import - Export (5453)
 Insurance (45130)
 Interior Design (29553)
 International Property (3485)
 Internet (190990)
 Internet Marketing (146338)
 Investment (22825)
 Islam (1167)
 Judaism (1356)
 Law (80490)
 Link Popularity (4591)
 Manufacturing (20842)
 Marketing (98779)
 MLM (14136)
 Motivation (18213)
 Music (27005)
 New to the Internet (9479)
 Non-Profit Organizations (4048)
 Online Shopping (129617)
 Organizing (7803)
 Party Ideas (11856)
 Pets (38079)
 Poetry (2234)
 Press Release (12674)
 Public Speaking (5618)
 Publishing (7523)
 Quotes (2407)
 Real Estate (126625)
 Recreation & Leisure (95279)
 Relationships (87563)
 Research (16158)
 Sales (80323)
 Science & Technology (110221)
 Search Engines (23454)
 Self Improvement (153102)
 Seniors (6232)
 Sexuality (35942)
 Small Business (49286)
 Software (82995)
 Spiritual (23465)
 Sports (116081)
 Tax (7658)
 Telecommuting (34066)
 Travel & Tourism (307422)
 UK Property Investment (3121)
 Video Games (13428)
 Web Traffic (11727)
 Website Design (56829)
 Website Promotion (36569)
 World News (1000+)
 Writing (35770)
Author Spotlight
ADRIAN JOELE

I have been involved in nutrition and weight management for over 12 years and I like to share my kn...more
ALFRED MEARS

Former English Teacher; Musician (20+ years); Freelance Writer ...more
BELINDA SUMMERS

Belinda Summers works as a professional consultant. She helps businesses increase their revenue by l...more
CACEY TAYLOR

Im just a man who likes to be happy and see others happy. Im into home business, sports, family, and...more
SHOVON JOARDER

Shovon Joarder has been working as Freelance Marketing Project Manager for over four years. He also ...more


Reverse mortgage in Illinois- Is it is the right choice to you? by Vikram kumar






Article Author Biography
Reverse mortgage in Illinois- Is it is the right choice to you? by
Article Posted: 10/26/2018
Article Views: 350
Articles Written: 10901
Word Count: 587
Article Votes: 0
AddThis Social Bookmark Button

Reverse mortgage in Illinois- Is it is the right choice to you?


 
Finance & Investment
A mortgage company offers loans of various types. The property buyers have to choose the right loan to meet their needs. There are also various requirements to apply for these loans. While you send an application for any mortgage loan, it is better to have an idea on it. One of the common loan types for the house owners is reverse mortgage. This loan is intended for those, whose age is more than 62 years. It helps them in converting a part of their home equity into the cash.

Reverse mortgage is really one of the best options to the retirees, having very limited amount of income. These retirees use their wealth for covering the monthly expenses, including the healthcare cost. You won’t have any restriction on the way of using the proceeds from reverse mortgage.

In case of the conventional mortgage, you pay an amount to the lender. However, while it’s a reverse mortgage, the creditor has to pay to you. You won’t have to pay off your loan amount until you have vacated or sold the house. However, you must stay updated on your property tax and insurance.

Is there any risk in the mortgage?

While you have approached for reverse mortgage loan, you will have no risk to lose the property ownership or title. Your creditor does not own your house in any way. Your present age helps you to make out how much money you can get from the lender. Other factors, affecting the amount, including your house value, upfront costs and rates of interest. Older persons have a chance of getting higher amount of proceeds.

Funding limit with your reverse mortgage loan-

On the first year, you will be able to access very limited amount of money. While the loan amount is $100,000, you may access 60% of it. After thirteen months, you will get higher proceeds. However, in few cases, this 60% rule is not followed.

When you have presently property mortgage to repaid, you get an option of withdrawing more amount. The withdrawn amount will help you in paying off the mortgage. The additional amount that you can get is 10 % of $100,000.

The creditors will assess your financial condition. They try to make sure that you will be able to afford your stay in the house. You have to pay the property tax throughout the loan term. The lenders will also ask you about your pensions, investment or the source of income. You must disclose the delay in payment or credit-related issue. It is also essential to show the bank statements and information on the tax returns. The creditors check out whether you have presented the right clarification. Then, they give you approval of reverse mortgage.

The creditor will subtract the amount to be paid for insurance, tax and debt. The remaining amount of fund is your income on every month.

Nicholas Lambrinatos offering you reverse mortgage-

Reverse mortgage loan is of various types. You may better find out a reliable mortgage firm in Illinois and have this mortgage loan. Nicholas Lambrinatos, the CEO of one of the reputed mortgage companies in Chicago, offers this reverse mortgage to his clients. You may speak to the members of his team. Know all the rules to apply for this loan easily.

One of the most useful loans to the retirees is reverse mortgage. As a property owner, you can have this loan from the mortgage company of Nicholas Lambrinatos. Check out whether you are eligible for this loan.

Related Articles - Nicholas Lambrinatos, mortgage,







Email this Article to a Friend!

Receive Articles like this one direct to your email box!
Subscribe for free today!

 Rate This Article  
Completely useless, should be removed from directory.
Minimal useful information.
Decent and informative.
Great article, very informative and helpful.
A 'Must Read'.

 

Do you Agree or Disagree? Have a Comment? POST IT!

 Reader Opinions 
Submit your comments and they will be posted here.
Make this comment or to the Author only:
Name:
Email:
*Your email will NOT be posted. This is for administrative purposes only.
Comments: *Your Comments WILL be posted to the AUTHOR ONLY if you select PRIVATE and to this PUBLIC PAGE if you select PUBLIC, so write accordingly.
 
Please enter the code in the image:



 Author Login 
LOGIN
Register for Author Account

 

Advertiser Login

 

ADVERTISE HERE NOW!
   Limited Time $60 Offer!
   90  Days-1.5 Million Views  

 

Great Paranormal Romance


GENE MYERS

Author of four books and two screenplays; frequent magazine contributor. I have four other books "in...more
STEPHEN BYE

Steve Bye is currently a fiction writer, who published his first novel, ‘Looking Forward Through The...more
LAURA JEEVES

At LeadGenerators, we specialise in content-led Online Marketing Strategies for our clients in the t...more
SUSAN FRIESEN

Susan Friesen, founder of the award-winning web development and digital marketing firm eVision Media...more
STEVERT MCKENZIE

Stevert Mckenzie, Travel Enthusiast. ...more
TIM FAY

I am not a writer nor am I trying to become a writer. I am an average person with average intelligen...more
MICHAEL BRESCIANI

Rev Bresciani is the author of two Christian books. One book is an important and concisely written b...more
KIRAN KAUR

Kiranpreet (Kiran) Kaur, D.D.S., who received her Doctor of Dental Surgery degree from the prestigio...more
STEVE BURGESS

Steve Burgess is a freelance technology writer, a practicing computer forensics specialist as the pr...more
JOANNA MORGAN

Joanna Morgan has a huge passion for making money online from home and enjoys traveling around the w...more

HomeLinksAbout UsContact UsTerms of UsePrivacy PolicyFAQResources
Copyright © 2019, All rights reserved.
Some pages may contain portions of text relating to certain topics obtained from wikipedia.org under the GNU FDL license