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Reverse Annuity Mortgage Tapping Into Your Equity
By Carrie Reeder

Reverse annuity mortgages (RAM) were created to allow older Americans to tap into the equity of their paid for or nearly paid for home. Homeowners receive a tax-free payment each month, and the mortgage is paid when the home is sold. Before you choose a RAM, make sure you have evaluated the risks since this option can limit future housing plans.

Types Of Reverse Mortgages

One of the first RAM programs was developed by HUD and is still in existence. To qualify you must be 62 or older, live in the home, and have paid off your mortgage. The government will then insure your mortgage.

You can also work directly with private lenders. You will want to review their t...
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In the News
Settlement for Peanut Salmonella Outbreak Approved
A federal judge has approved a $12 million settlement for those sickened or killed in last year's salmonella outbreak tied to a Virginia-based peanut processor. Read More ...

Fed judge OKs $12M settlement on bad peanuts
 A federal judge has approved a $12 million settlement for those sickened or killed in last year's salmonella outbreak tied... Read More ...

Claire Roantree wins six-figure settlement for former soldier
Who? Claire Roantree, 38, head of serious personal injury at Colemans-ctts in Surrey. Why is she in the news? Won a six-figure settlement for a former soldier with post-traumatic stress disorder (PTSD). read more Read More ...

 

 

 
 
 

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