http://reversemortgagedaily.com/2008/02/25/libor-reverse-mortgage-margins-disappearing/ Reverse Mortgage News and Information Fri, 21 Nov 2008 22:03:55 +0000 http://wordpress.org/?v=2.3.1 http://reversemortgagedaily.com/2008/02/25/libor-reverse-mortgage-margins-disappearing/#comment-3419 Chuck Tue, 26 Feb 2008 18:22:40 +0000 http://reversemortgagedaily.com/2008/02/25/libor-reverse-mortgage-margins-disappearing/#comment-3419 I have tried to stay with the CMT for the most part because over time applied loan interest is lower and thus more retained equity. I have found one case where LIBOR worked best - basically because of the current liens and needing to get net principle limit to match payoffs. I have tried to stay with the CMT for the most part because over time applied loan interest is lower and thus more retained equity. I have found one case where LIBOR worked best - basically because of the current liens and needing to get net principle limit to match payoffs.

]]> http://reversemortgagedaily.com/2008/02/25/libor-reverse-mortgage-margins-disappearing/#comment-3412 Cooper Tue, 26 Feb 2008 09:42:59 +0000 http://reversemortgagedaily.com/2008/02/25/libor-reverse-mortgage-margins-disappearing/#comment-3412 The reverse <a href="http://www.greenhillfinance.co.uk/GreenhillMortgages.aspx" rel="nofollow">mortgages</a> is different in that it pays you, and is available regardless of your current income. The amount you can borrow depends on your age, the current interest rate, and the appraised value of your home, whichever is less. Generally, the more valuable your home is, the older you are, the lower the interest, the more you can borrow. You don't make payments, because the loan is not due as long as the house is your principal residence. The reverse mortgages is different in that it pays you, and is available regardless of your current income. The amount you can borrow depends on your age, the current interest rate, and the appraised value of your home, whichever is less. Generally, the more valuable your home is, the older you are, the lower the interest, the more you can borrow. You don’t make payments, because the loan is not due as long as the house is your principal residence.

]]>