Should you Consider a Reverse Mortgage?

Should you Consider a Reverse Mortgage?
Copyright © Jose Love

I decided to publish this article because so many
of our family members own homes, are retired and
have reached age 62. Therefore, they possibly
qualify for a reverse mortgage. When done
correctly, a reverse mortgage can partially and,
in some cases, totally alleviate financialworries
for seniors. I have provided a link later in this
article that will answer most of your questions
about this unique financial instrument. Here are
some highlights and interesting facts:


Reverse Mortgages Offer Senior Homeowners
a Way to Turn Home Equity into Tax Free Cash!

Reverse Mortgages Can Help Seniors
Pay for Long-Term Care Needs.

Out of 27.5 million elder U.S. households (age 62+)

15 million could qualify for a reverse mortgage.

And of that total 13.2 million are candidates for

using reverse mortgages to pay for LTC at home,

according to the study, which is being funded by

the Centers for Medicare and Medicaid Services and

the Robert Wood Johnson Foundation.

All Reverse Mortgages are not the same

The Home Equity Conversion Mortgage (HECM) is the

only reverse mortgage insured by the federal

government. HECM loans are insured by the Federal

Housing Administration (FHA), which is part of the

U.S. Department of Housing and Urban Development

(HUD).

HECMs Versus Other Reverses

HECM loans generally provide the largest loan

advances of any reverse mortgage. HECMs also give

you the most choices in how the loan is paid to

you, and you can use the money for any purpose.

Although they can be costly, HECMs are generally

less expensive than privately-insured reverse

mortgages. Other reverse mortgages may have smaller

fees, but they generally have higher interest

rates. On the whole, HECMs are likely to cost less

in most cases.

The only reverse mortgages that always cost the

least are ones offered by state or local

governments. These loans typically must be used for

one specific purpose only, for example, to repair

your home, or pay your property taxes. They also

generally are available only to homeowners with low

to moderate incomes.

Please go to the following link to get more
details on Reverse Mortgages:


http:www.aarp.org/money/revmort

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Important Cell Phone Information

Important Cell Phone Information
Copyright © Jose Love

>Great information
>
>THINGS YOU NEVER KNEW YOUR CELL PHONE COULD DO:
>There are a few things that can be done in times

of grave emergencies. Your
>mobile phone can actually be a life saver or an

emergency tool for
>survival. Check out the things that you can do

with it:
>
>FIRST
>Subject: Emergency
>The Emergency Number worldwide for Mobile is 112.

If you find yourself out
>of the coverage area of your mobile; network and

there is an emergency,
>dial 112 and the mobile will search any existing

network to establish the
>emergency number for you, and interestingly this

number 112 can be dialed
>even if the keypad is locked. Try it out.
>
>SECOND
>Subject: Have you locked your keys in the car?
>Does your car have remote keyless entry? This may

come in handy someday.
>Good reason to own a cell phone: If you lock your

keys in the car and the
>spare keys are at home, call someone at home on

their cell phone from your
>cell phone. Hold your cell phone about a foot from

your car door and have
>the person at your home press the unlock button,

holding it near the mobile
>on their end. Your car will unlock. Saves someone

from having to drive your
>keys to you.
>Distance is no object. You could be hundreds of

miles away, and if you can
>reach someone who has the other "remote" for your

car, you can unlock the
>doors (or the trunk).
>Editor's Note: "It works fine! We tried it out and

it unlocked our car over
>a cell phone!"
>
>THIRD
>Subject: Hidden Battery Power
>Imagine your cell battery is very low. To

activate, press the keys *3370#
>Your cell will restart with this reserve and the

instrument will show a 50%
>increase in battery. This reserve will get charged

when you charge your
>cell next time.
>
>FOURTH
>Subject: How to disable a STOLEN mobile phone?
>To check your Mobile phone's serial number, key in

the following digits on
>your phone: * # 0 6 # A 15 digit code will appear

on the screen. This
>number is unique to your handset. Write it down

and keep it somewhere safe.
>When your phone gets stolen, you can phone your

service provider and give
>them this code. They will then be able to block

your handset so even if the
>thief changes the SIM card, your phone will be

totally useless. You
>probably won't get your phone back, but at least

you know that whoever
>stole it can't use/sell it either. If everybody

does this, there would be
>no point in people stealing mobile phones.
>And Finally..
>
>FIFTH
>Cell phone companies are charging us $1.00 to

$1.75 or more for 411
>information calls when they don't have to. Most of

us do not carry a
>telephone directory in our vehicle, which makes

this situation even more of
>a problem. When you need to use the 411

information option, simply dial
>(800) FREE 411 or (800) 373-3411 without incurring

any charge at all.
>Program this into your cell phone now.
>
>This is the kind of information people don't mind

receiving, so pass it on
>to your family and friends.>
>
>
>
>"We are what we repeatedly do. Excellence, then,

is not an act, but a habit."
Aristotle


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