Attending required counseling is crucial for seniors seeking a reverse mortgage. It provides unbiased information and helps them make informed financial decisions. With counseling, seniors can explore alternative options and determine whether a reverse mortgage is right for their unique situation. By attending counseling, seniors can avoid scams or predatory lending practices and ensure they… 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 »
Reverse Mortgages in Illinois As we all know Illinois lies in the Midwest part of the United States and in terms of population, it is in the fifth spot while twenty-fifth in terms of land area. What is even more significant is that this state has around 15% of people in the age-group above 65… Read more »
Reverse Home Loan: Things to Consider You tried to keep money throughout your lifetime for your “golden years.” But with college tuition, weddings and the ever increasing property taxes, it had been rare to have much money left over to place into savings. So you are trying to get by on a security check… Read more »
The Benefits of Reverse Home Loans There are numerous myths in the current market fueled by stories regarding reverse mortgages from the past. The most typical misconception is that you will have to transfer ownership of your house to the lender upon loss of life, or that eventually you might be forced to move from the… Read more »
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