| Home Equity Loan-reverse Mortgage-is There One In Your Future
Reverse mortgages have gotten a lot of publicity lately and will probably get a lot of press in the future as baby boomers near retirement age. What are they? Who can use one? Is there a reverse mortgage in your future? WHAT ARE REVERSE MORTGAGES A reverse mortgage is a home equity loan or line of credit that is secured by the equity in your home. You do not repay as long as you live in the home. The reason it is called a reverse mortgage is because it is the opposite of a regular home equity loan where you reduce debt and build up equity. In a reverse mortgage you reduce equity and build up debt. That is where the money comes from. WHO CAN USE REVERSE MORTGAGES Basically anyone who is over age 62, owns and lives in their own home and has paid off at least 60% of the loan can apply for a reverse mortgage.
LendingTree.com Adds Eleven New Loan Calculators to Its Smart ...
CHARLOTTE, N.C., May 7 /PRNewswire/ -- LendingTree.com today introduced eleven new-and-improved home loan calculators to its Smart Borrower Center at http://www.lendingtree.com/smartborrower/calculators.aspx. The calculators, which were custom developed by LendingTree loan and technology experts, cover all areas of home lending from loan product comparisons to ARM payments, and loan consolidation to refinancing. "Loan calculators have grown in popularity over the past several years, but a lot of what's out there is hard to understand and even harder to use," said Bridget Smith, the LendingTree Smart Borrower Center editor-in-chief. "We set out to develop a line of top-notch loan calculators that would make it easier, faster and more intuitive for borrowers to get the financial information they need." The LendingTree Smart Borrower Center calculators outperform other offerings in terms of ease of use, transparency of assumptions, and flexibility to customize.
POLICE BLOTTERS
Hulda Avenue, 4000 block. A woman called police at 12:30 p.m. Sunday after she discovered more than $1,000 worth of damage to a vacant house she owns. The 85-year-old woman told officers that someone had broken out the majority of the windows, damaged the rear door and ransacked the house. Monticello Road, 400 block. A woman called police at 2 p.m. Friday saying she had been attacked in a public restroom. The woman told officers she was in the third-floor bathroom when a man came up to her, grabbed her by the neck and tried to choke her. She fought with him and was able to escape when he tried to pull her into one of the stalls, she said. LEXINGTON COUNTY SHERIFF Bush River Road, 5000 block. A man called police at 6 a.m. Sunday saying he had been stabbed during a home invasion.
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