Reverse Mortgage: What is a reverse mortgage?

A reverse mortgage is a special type of home equity loan that is available to senior citizens of 62 year and above. Unlike the conventional mortgage loans where you are given a loan upfront and you start and continue to pay monthly instalments over the loan period, the reverse is in the case for reverse mortgage. In the case of reverse mortgage, you don’t need to pay b the home. Instead of you paying back the loan, it is your lender that pays you based on your payment option while the interest accrues on the loan. However, reverse mortgage is Continue ReadingReverse Mortgage: What is a reverse mortgage?

Pet Insurance: Basic Facts You Need to Know

Although the rate at which people buy pet insurance is still very low compared to other types of insurance, the industry has actually started to grow. This may not be unconnected to the growing costs of the veterinary care across the country. When I was about writing this article, I actually came across some statistics which I will like to share with you. With the statistics, you may likely conclude the same way I did that pet insurance industry will continue to grow for some years to come. I understood from the 2016 Pet Insurance Statistics that one out of Continue ReadingPet Insurance: Basic Facts You Need to Know

VA Loans: Eligibility Requirements and Essential Features

What are VA Loans? VA Loans are government backed mortgage loans made available through approved lenders to United States veterans, service members and their spouses. Approved lenders could be banks, savings and loans or mortgage companies. You should understand that gov Instead, what the government does is to provide guaranty to the approved lenders through the U.S. Department of Veterans Affairs.  The essence of this guaranty is to protect the lenders from loss in case the borrowers are unable to pay back their VA Loans. This reduces the lenders’ risks and therefore makes the interest rates on VA loans to Continue ReadingVA Loans: Eligibility Requirements and Essential Features