Tag: mortgage liens
-
Reverse Mortgage Problems: When to Stay, and When to Walk Away
Reverse mortgages are designed for senior homeowners. They’re advertised as a super power available to longtime deed holders. The idea? When you’re low on cash, tap into your many years of equity-building. Draw financial strength from your property’s value. Sounds good, and yet pitfalls await the unwary. Reverse mortgages allow borrowing to increase, and home equity…
-
When Lien Holders Demand Repayment: Who Has the Most to Gain by Foreclosing?
If you own a home, you can use it as collateral and borrow money. The lenders may then place liens on your title, representing that money you have to repay. The classic example involves taking out a mortgage against the value of a home you want to buy. You must repay the home loan, or…
