Is a Reverse Mortgage a Good Option for You? The 2008 recession affected a significant number of people in America. According to a recent article the average loss in the year 2008 for workers who had been on the job for 20 years was about 25 percent. Although, the government has claimed that the economy… Read more »
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How to manage overall credit card debt can be a big challenge and you may be flooded with offers claiming that an effective way could be transferring your credit card balance. But before deciding on something like this it is always advisable to have a look at the pros and cons of such a step. Credit… Read more »
In the recent times reverse mortgages are becoming a more preferred option for supplementary income among senior citizens. According to a statement issued by Peter Bell who is the president of NRMLA or the National Reverse Mortgage Lenders Association, around 911,314 reverse mortgages have been taken since the programs inception and this number is expected… Read more »
Reverse Mortgage in Illinois Every person living in Illinois must be proud of the fact that three of U.S. presidents have been elected while living in Illinois; namely, Abraham Lincoln, Ulysses S. Grant, and Barrack Obama. Besides this, Ronald Reagan was the only U.S. president born and raised in Illinois though his political career was… Read more »
Reverse Mortgage Companies in Illinois Reverse mortgage companies in Illinois will soon be required to abide by the new laws governing Home Equity Conversion Mortgages (HECMs) of the state, beginning January 1, 2016. In August 2015, Governor of Illinois, Bruce Rauner had signed into law the Reverse Mortgage Act, after it was passed in the… Read more »
Illinois Reverse Mortgage Act Last year in August Governor of Illinois, Bruce Rauner (Republican) signed into law Senate Bill 1440 which is known as the Reverse Mortgage Act. This bill came into effect on January 1, 2016 and according to this new Illinois reverse mortgage Act there will be a “three-day cooling off period” during… Read more »