tailieunhanh - Home Made Money PHẦN 2

cá nhân vay thế chấp ngược lại có thể khác nhau rất nhiều, và có thể kết thúc được nhiều hơn nữa - hoặc ít tốn kém hơn bạn có thể tưởng tượng. Talc tiết lộ cho thấy rằng các thế chấp đảo ngược nói chung là tốn kém nhất khi bạn sống trong nhà của bạn chỉ là một vài năm sau khi đóng khoản vay. | individual reverse mortgage loan can vary by a lot and can end up being much more or less expensive than you might imagine. TALC disclosures reveal that reverse mortgages generally are most costly when you live in your home only a few years after closing the loan. Short-term TALC rates are very high because the start-up costs are usually a very large part of the total amount that you owe in the early years of the loan. But as your loan balance grows larger over time the start-up costs become a smaller part of your debt. As these costs are spread out over more and more years the TALC rate declines. If the loan s growing balance catches up to the home s value your debt is then limited by that value. This makes the true cost of the loan decrease at a faster rate. So the longer you live in your home or the less its value grows the less expensive your loan is likely to be. An explanation of how TALC rates are calculated can be found on the internet at . Some shortcomings of the TALC disclosure and a more complete way to measure reverse mortgage costs and benefits are discussed in Part 2. AARP HOME MADE MONEY 7 Part 2 The Home Equity Conversion Mortgage HECM The HECM Home Equity Conversion Mortgage is the only reverse mortgage insured by the federal government. HECM loans are insured by the FHA Federal Housing Administration which is part of the . HUD Department of Housing and Urban Development . The FHA tells HECM lenders how much they can lend you based on your age and home value. The HECM program limits your loan costs and the FHA guarantees that lenders will meet their obligations. VERSUS OTHER REVERSES HECM loans generally provide the largest loan advances of any available reverse mortgage. Often they provide substantially more cash than any other program. HECMs also provide the most flexibility in how the cash can be paid to you. The money you get from a HECM can be used for any purpose you choose. Although they are not inexpensive .