Government Loan Broker

FriendFinder Networks Plans to Join Senior Secured Surge: New Issue Alert
FriendFinder Networks Inc., the publisher of Penthouse magazine, is marketing debt as sales of senior secured notes rise toward a record.

Read more on Bloomberg

Gannett Co., Inc. Announces Completion of $500 Million Offering of Senior Notes
MCLEAN, Va.—-Gannett Co., Inc. today announced the successful completion of its previously announced private placement offering of $250 million aggregate principal amount of its 6.375% Senior Notes due 2015 and $250 million aggregate principal amount of its 7.125% Senior Notes due 2018.

Read more on Business Wire via Yahoo! Finance

New Guide Compares Temporary and Evolving Options to Finance Delayed Nonprofit Senior Living Construction/Renovation …
A new guide released this week by Lancaster Pollard helps nonprofit senior living providers compare construction and renovation financing methods so key projects can move forward even in uncertain capital markets.

Read more on PRWeb via Yahoo! News

Honoring Marines by educating their children; Senior Marine leaders, education officials award scholarships
The sergeant major and assistant commandant of the Marine Corps presented scholarships to 25 children during the Marine Corps Scholarship Foundation’s 2010 Announcement Reception Sept. 14.

Read more on U.S. Marine Corps

Reverse mortgage is also termed as Home Equity Conversion Mortgage or HECM. It is a specific loan that is offered to the senior citizens in the United States who are aged 62 years or above. Reverse mortgage is a tax-exempt loan. It functions as a helpful tool to switch the home equity of a senior homeowner into cash flow. Essentially, a senior citizen of the United States can get tax-exempt cash payments from the lender (monthly or lump sum) up to the amount of equity that he has in his home. The possession of the property is retained with the senior citizen. The loan does not get due for payment unless he passes away, sells his home or moves to another place.

What is the Difference between a Reverse Mortgage and a Conventional Mortgage?

Under a conventional mortgage, the homebuyer secures a loan and pays it off through monthly mortgage payments. Once every payment is made, the loan diminishes and the home equity of that individual goes up. While the mortgage loan has been completely paid (no installment is due), the house becomes free from debt and the homeowner has complete possession of the house. As per a reverse
mortgage, the homeowner does not have to pay anything on a monthly basis. The amount of interest on the loan is added against the property and functions as a pledge for payment. When the homeowner starts to obtain the monthly payments, the debt on the property goes up every month and the home equity diminishes accordingly.

How is a Reverse Mortgage good for you?

If you are a senior citizen (aged above 62) and have small or no earnings but own a house, then reverse mortgage can be a beneficial choice for you. The FHA or Federal Housing Administration notifies the reverse mortgage lenders the amount that they can offer you depending on your home equity and age. Qualifying for a reverse mortgage loan is simple. You should contact any of the reverse mortgage professionals in your locality who has a fair knowledge about reverse mortgages and obtain some free advices from him.