Mortgages and Loans

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Mortgages and Loans

• What Mortgage Terms Should I Know?
  A short glossary of key terms to help you understand the basics of mortgages and home finance.
• The Big Car Decision: Buy Or Lease?
  With a car loan, you're paying to own a car. With a lease, you're paying to use a car owned by someone else. Seems simple, but there's a more you need to know.
• How Do I Know if I Qualify for a Mortgage Loan?
  When a lender reviews your loan application, they'll look at these factors to determine if you're mortgage-worthy.
• What Are The Pros And Cons Of Owning A Home?
  Most people consider buying a home at some point in their lives, while others choose to remain renters. Here's a quick summary of some advantages and disadvantages of renting vs. owning.
• What Should I Do If I'm Late On My Mortgage Payment?
  Have you fallen behind on your mortgage payments? Facing foreclosure? Some tips on finding help.
• What Kind of Home Payments Can I Afford?
  Two simple steps to calculate the maximum principal and interest amount you can afford to pay each month.
• What's Important To Know about Foreclosure?
  Foreclosure can occur on a property for several reasons. Here's a brief summary of typical steps in a foreclosure, and how foreclosure can affect your credit rating.
• Reverse Mortgages — Cashing In On Home Ownership
  A "reverse mortgage" may allow some consumers to take advantage of their home as a valuable asset and convert it to a source of income without losing home ownership.
• How HUD's Reverse Mortgage Program Works
  HUD's reverse mortgage program allows homeowners to borrow against the equity in their homes.
• Top Ten Things to Know if You're Interested in a Reverse Mortgage
  HUD's Reverse Mortgage is a federally-insured private loan, and it's a safe plan that can give older Americans greater financial security.
• About Reverse Mortgages for Seniors - - Section 255 - Home Equity Conversion Mortgages (HECM)
  The HECM FHA insured reverse mortgage can be used by senior homeowners age 62 and older to convert the equity in their home into monthly streams of income and/or a line of credit to be repaid when they no longer occupy the home.
• Reverse Mortgages: Get the Facts Before Cashing In On Your Home’s Equity
• Administration on Aging: Reverse Mortgages
  Links related to different types of reverse mortgage policies, consumer advocacy issues associated with some types of programs, and emerging state and federal initiatives in extending protection and support.