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The Reverse Mortgage: How It Works, Pros, Cons, and Costs

Whether you are retired or approaching retirement, planning your reverse mortgage is helpful. A reverse mortgage is a loan that allows homeowners over the age of 62 to convert a portion of their home equity into cash. This loan suits people who need additional funds for their retirement. To help you learn more about it, we will provide this in-depth discussion of reverse mortgages.  How Does It Work? Reverse mortgages work by paying off a portion of your home equity to pay an existing...

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Divorce Mortgage Planning in Motion

What is Divorce Mortgage Planning and how can a CDLP™ bring value to the professional divorce team? Divorce Mortgage Planning is a holistic approach to the process of evaluating mortgage options in the context of the overall financial objectives as they relate to divorcing situations. The role of the CDLP™ is to help integrate the mortgage selected into the overall long and short-term financial and investment goals, to help minimize taxes, to minimize interest expense, and maximize cash flow....

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15 Years vs. 30 Years: What Is the Better Mortgage Plan?

There are different types of mortgage loans that you can take out, but what’s similar in all of them is payment duration. If you were to break down most loans, it usually comes down between a 15-year or 30-year period, which both come with their own set of advantages and disadvantages. To determine which loan is best for you, learn how the process goes for these two loans. The 30-Year Mortgage Plan Since the duration of the loan is longer for this type of loan, the monthly rates are relatively...

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Myths and Misinformation About Mortgage Loans, Dispelled

Getting a mortgage might seem scary. It certainly doesn’t help that there’s a lot of misinformation about mortgages circulating these days. But if you are armed with the truth, you will find yourself in a better position to make a decision about your future mortgage. Here are a few myths and the truths behind them: Mortgage Loans Are Expensive A lot of people say that mortgages are extremely expensive and aren’t worth it. This isn’t true at all. After rent payments, and you already have enough...

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CDLP™s Can Play A Positive Role In Client Divorces

How do you divorce the mortgage - or the house, for that matter? That is a question asked of many Certified Divorce Lending Professionals (CDLP™). Though a CDLP™ deals with all levels of divorcing homeowners, the more variables involved in a divorce case, the more complicated it can be. Many times a CDLP™ will face divorcing clients, both men and women, who are ill-prepared financially to obtain mortgage financing - even when the final settlement agreement states that one spouse is to...

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