A tradition home equity loan provides people a line of credit at a variable interest rate. As money is taken, principal and interest is owed. The amount of the credit line depends on the amount of equity in the Alabama home at the time the loan is closed. When we reverse this, then we have a lender that holds a credit line and pays you a tax-free monthly income. Even if the lender eventually pays you more than the amount of equity you have left in the home, your payments continue. When it is time for the loan to be repaid, the lender is owned the payments plus interest up to and never to exceed the amount of equity in the home at the time of closing.
Consumer Safeguards
Alabama seniors are protected from the very beginning starting with the loan process. Federal laws are in place to safeguard seniors from losing their most important possession, their home. The homeowner in Alabama never puts their title at risk and never risks losing their home. Education and counseling is provided to make sure that a reverse mortgage loan provides the greatest safeguards and protections for any given situation.
The 2007 Hot100Business Tennessee, TN - Aug 13, 2008No wonder Ernst & Young named Bostelman an entrepreneur of the year in 2007 for the Alabama/Georgia/Tennessee region. Other founding partners were Brian ...
Reverse Mortgage Loans Alabama provides all the resources, tools and information to assist you in the process of buying a reverse mortgages. We will help you find a qualified mortgage specialist in your area to educate you. Reverse Mortgage Loans Alabama facilitates matching you with a local brokers for reverse mortgages to ensure a successful loan. We have all the information you need to understand all the questions you may have about a reverse mortgages. For example, did you know that anyone aged 62 or over may meet the requirements to obtain reverse mortgages? Reverse Mortgage Loans Alabama includes articles, frequently asked questions, and blogs with all the Reverse Mortgages questions and answers you can possibly think of. We encourage you to read our privacy policy and terms of use and hope that you enjoy using the Reverse Mortgage Loans Alabama site. Copyright 2007 HomeXperts, Inc.
The State of Alabama, is located in the southern region of the United States of America. It is bordered by Tennessee to the north, Georgia to the east, Florida and the Gulf of Mexico to the south, and Mississippi to the west. Alabama ranks 30th in total land area and ranks second in the size of its inland waterways. The state ranks 23rd in population with almost 4.6 million residents in 2006.
