InnoVest Resource Management's Foreclosure Forum

Home Discussion Board "Hands-On" Training Title Holding Trust Speaking Schedule Store Foreclosure Codes 50 State Resource Data Foreclosure Glossary Foreclosure Statistics 60+ Yrs Interest Rates Fillable Forms Archived Articles Dingbat Retirement Plan Links Contact / Map Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Reverse Mortgage Posted by damien on September 09, 2003 at 10:09 PM In Reply to: Reverse Mortgage posted by Lughead on September 09, 2003 at 9:31 PM : hello : what is a reverse mortgage? : is it the same as negative amortization? : thank you A reverse mortgage is when the bank pays you a monthly payment. This type of mortgage is typicaly found with seniors. For example, a property with $100,000 in equity, the bank takes over, handles all major repairs and pays the owner a monthly payment. However, in a reverse mortgage the bank sells the home for profit when the homeowner passes away. Not sure if other types, I however have worked a few under this type. www.888wcps.com Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : hello : : what is a reverse mortgage? : : is it the same as negative amortization? : : thank you : A reverse mortgage is when the bank pays you a monthly payment. This type of mortgage is typicaly found with seniors. : For example, a property with $100,000 in equity, the bank takes over, handles all major repairs and pays the owner a monthly payment. However, in a reverse mortgage the bank sells the home for profit when the homeowner passes away. : Not sure if other types, I however have worked a few under this type. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction. Read our privacy policy.

Copyright © 1997-2003, InnoVest Resource Management
http://www.foreclosureforum.com

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455