Good news here. The FHA qualification for a Reverse Mortgage is easy. To qualify you must be at least 62 years of age. There are no minimum income or credit requirements. You must also own and reside in the home as your personal residence. As you know the rules or guidelines change, so please check with HUD for the latest updates.
There are some special requirements if you have a pending bankruptcy which has not been finalized, or the home is considered manufactured housing, but for the most part it is nothing like the qualifications for purchasing a home https://www.reversemortgagepros.ca/reverse-mortgage/
Why you should go for Reverse Mortgages
Let’s look at the benefits of Reverse Mortgages, by thinking of it as a retirement planning tool, because that is what it is. And that is the main advantage of a Reverse Mortgage
If you had plenty of money to retire you would not be here, so let’s consider these mortgages, reverse annuity mortgages, because like an annuity you can make an election to receive a fixed payment as long as you live in you home.
So a Reverse Mortgage allows you to maintain your financial independence, while allowing you to remain in your home and retain ownership.
There is no cash required for closing as typically closing costs are simply added to your loan’s balance.
These push reel ‘eco’ mowers are not as laborious as one would think. The other day I was able to push this mower with one hand and hold an open beer in the other. That day I think the beer put out more gas emissions than this ‘eco’ mower ever will.
Besides peace and quiet, no unhealthy gas fumes and heat blasting at you, no hands tingling from motor vibrations, no mowing over a live electrical cord an ‘eco mower
has lots more to offer. Benefits such as no extra expenses with purchasing fossil fuels (gas and oil), spark plugs, chains, belts and wiring making it virtually maintenance free. The best benefit is that the neighbors will not hate you.
The German engineered Brill Razorcut Mower has all this and more. This push reel mower folds up for easy storage and is also designed with an ergonomically shaped frame with a durable rubber/foam handle to give you a more comfortable experience in pushing your lawn mower.
This robust Brill Razorcut mower has been constructed with sealed steel bearings so no extra maintenance is needed and flame hardened steel blades so you can mow your lawn to your hearts content before sharpening is necessary. Additionally, these blades stay sharp for eight years!
Other features that this ‘eco’ mower has should be mentioned. Features such as large eight inch wheels and spindle mounted on sealed ball bearings so that it spins freely resulting in easy pushing. The blades on the Brill Razorcut mower use ‘contact free cutting technology’, a silent cut design preventing metal on metal contact which significantly increases the blade life and much easier lawn mowing. Finally, the attractive “rear spoiler” which ejects the grass cuttings in a controlled manner. Speaking of controlling grass cuttings the black & decker em 1500
has an optional grass catcher bag made specifically for it.
This ‘eco’ mower is perfect for the good neighbor who….
– Is environmentally conscious.
– Does not like unhealthy gas fumes.
– Does not like deafening noise.
– Has a medium to small lawn.
– Enjoys listening to the environment while outdoors.
– Wants to give earth a fighting chance.
– Hates to annoy his neighbors.