This bailout plan will give a bulk of the $75 billion to mortgage lenders and banks, like Chase, who approve homeowners who are “at risk” of losing their home, or are facing other financial hardships.
Apr 5 2011 | Posted in
Mortgages |
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But, in the case of a reverse mortgage, the bank must wait for payments of any sort till you sell the home, refinance, or permanently leave the home ( i.e. Pass away ). It’s a business transaction : you get the cash, the bank gets a warranty that they will finally be paid back.
Mar 11 2011 | Posted in
Mortgages |
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