Warning: fopen(/home/content/t/h/e/thepaper/html/marketing/find.htm) [function.fopen]: failed to open stream: No such file or directory in /home/content/20/4006920/html/archive/7_20/getdata.php on line 76

Warning: filesize() [function.filesize]: stat failed for /home/content/t/h/e/thepaper/html/marketing/find.htm in /home/content/20/4006920/html/archive/7_20/getdata.php on line 77

Warning: fread(): supplied argument is not a valid stream resource in /home/content/20/4006920/html/archive/7_20/getdata.php on line 77

Warning: fclose(): supplied argument is not a valid stream resource in /home/content/20/4006920/html/archive/7_20/getdata.php on line 78

Warning: fopen(/home/content/t/h/e/thepaper/html/marketing/contact.htm) [function.fopen]: failed to open stream: No such file or directory in /home/content/20/4006920/html/archive/7_20/getdata.php on line 81

Warning: filesize() [function.filesize]: stat failed for /home/content/t/h/e/thepaper/html/marketing/contact.htm in /home/content/20/4006920/html/archive/7_20/getdata.php on line 82

Warning: fread(): supplied argument is not a valid stream resource in /home/content/20/4006920/html/archive/7_20/getdata.php on line 82

Warning: fclose(): supplied argument is not a valid stream resource in /home/content/20/4006920/html/archive/7_20/getdata.php on line 83

Warning: fopen(/home/content/t/h/e/thepaper/html/marketing/archive.htm) [function.fopen]: failed to open stream: No such file or directory in /home/content/20/4006920/html/archive/7_20/getdata.php on line 86

Warning: filesize() [function.filesize]: stat failed for /home/content/t/h/e/thepaper/html/marketing/archive.htm in /home/content/20/4006920/html/archive/7_20/getdata.php on line 87

Warning: fread(): supplied argument is not a valid stream resource in /home/content/20/4006920/html/archive/7_20/getdata.php on line 87

Warning: fclose(): supplied argument is not a valid stream resource in /home/content/20/4006920/html/archive/7_20/getdata.php on line 88

Warning: fopen(/home/content/t/h/e/thepaper/html/marketing/r.htm) [function.fopen]: failed to open stream: No such file or directory in /home/content/20/4006920/html/archive/7_20/getdata.php on line 91

Warning: filesize() [function.filesize]: stat failed for /home/content/t/h/e/thepaper/html/marketing/r.htm in /home/content/20/4006920/html/archive/7_20/getdata.php on line 92

Warning: fread(): supplied argument is not a valid stream resource in /home/content/20/4006920/html/archive/7_20/getdata.php on line 92

Warning: fclose(): supplied argument is not a valid stream resource in /home/content/20/4006920/html/archive/7_20/getdata.php on line 93

Warning: fopen(/home/content/t/h/e/thepaper/html/marketing/dem.htm) [function.fopen]: failed to open stream: No such file or directory in /home/content/20/4006920/html/archive/7_20/getdata.php on line 96

Warning: filesize() [function.filesize]: stat failed for /home/content/t/h/e/thepaper/html/marketing/dem.htm in /home/content/20/4006920/html/archive/7_20/getdata.php on line 97

Warning: fread(): supplied argument is not a valid stream resource in /home/content/20/4006920/html/archive/7_20/getdata.php on line 97

Warning: fclose(): supplied argument is not a valid stream resource in /home/content/20/4006920/html/archive/7_20/getdata.php on line 98

Warning: fopen(/home/content/t/h/e/thepaper/html/marketing/dis.htm) [function.fopen]: failed to open stream: No such file or directory in /home/content/20/4006920/html/archive/7_20/getdata.php on line 101

Warning: filesize() [function.filesize]: stat failed for /home/content/t/h/e/thepaper/html/marketing/dis.htm in /home/content/20/4006920/html/archive/7_20/getdata.php on line 102

Warning: fread(): supplied argument is not a valid stream resource in /home/content/20/4006920/html/archive/7_20/getdata.php on line 102

Warning: fclose(): supplied argument is not a valid stream resource in /home/content/20/4006920/html/archive/7_20/getdata.php on line 103

Warning: include(/home/content/t/h/e/thepaper/html/marketing/top1.php) [function.include]: failed to open stream: No such file or directory in /home/content/20/4006920/html/archive/7_20/mortgage.php on line 30

Warning: include() [function.include]: Failed opening '/home/content/t/h/e/thepaper/html/marketing/top1.php' for inclusion (include_path='.:/usr/local/php5/lib/php') in /home/content/20/4006920/html/archive/7_20/mortgage.php on line 30
Cover Story
Special Feature
Daily Chuckle
Local News
Social Butterfly
Kaufman’s Korner
Fishing Report
Commentary
Professional Advice
.....Real Estate
.....Reverse Mortgages
.....The Computer
.....Buzz
Pet of the Week
Featured Merchants
Advertisers/Classifieds
Where to find
The Paper
Archive
Marketing/Media Kit
Contact Us

 

 

 

 

 

 

 

 

 

 

Reverse Mortgages July 20th, 2006

Reverse Mortgages . . . with Ken Terril

Ken Terril -
Your Reverse Mortgage Specialist

 

What Does Reverse Mortgage Mean?

For those of you who are new to Reverse Mortgages, we’ve been trying to provide you with the necessary information through this column to make a sound financial decision. We hope to show you how you can quite easily convert some of your home’s equity into tax-free* cash. To qualify, you have to be aged 62 or older. Unlike traditional loans, there is no repayment required until the home is no longer the principal residence.

If you are 62 or older and occupy your own residence, whether it’s a single family residence, a condominium, townhome, or even a two to four unit dwelling, we can show you how to convert part of your home’s equity into cash.

We don’t need income, emploment or credit requirments.** By applying an HUD formula we can determine just how much cash you can receive. That formula looks at the age of the youngest homeowner, the interest rate, the appraised value, and the location.

What is really great is you retain ownership of your home and continue to live in it . . . and you can use your cash advances for any purpose you see fit. That cash is considered loan proceeds, not income, so will not affect your Social Security or Medicare benefits. And, if you wish to keep the home in the family, your heirs may keep the home once the reverse mortage is repaid.

Your tax-free* cash can be taken in a lump sum, immediately available, as fixed monthly cash advances, or as a Line of Credit with cash available upon request.

Typically, out of pocket costs only run around $300. Closing costs can be factored into the loan. These may include an origination fee, title insurance, appraisal, a mortgage insurance premium and attorney fees.

The reverse mortgage is due and payable when the property is no longer considered the customer’s principal residence.

Sound Simple? It is!

Our Mortgage Professionals are happy to explain the program in simple, easy to understand terms that makes for an easy decision to help you attain financial comfort.

If you have Reverse Mortgage questions call:

Ken Terrill President
American Mortgage Professionals, Inc.
743.8922, ext 118

 

 

 

 


Warning: include(/home/content/t/h/e/thepaper/html/marketing/longad.php) [function.include]: failed to open stream: No such file or directory in /home/content/20/4006920/html/archive/7_20/mortgage.php on line 112

Warning: include() [function.include]: Failed opening '/home/content/t/h/e/thepaper/html/marketing/longad.php' for inclusion (include_path='.:/usr/local/php5/lib/php') in /home/content/20/4006920/html/archive/7_20/mortgage.php on line 112