is Reverse mortgage? & lt; br/& gt; & lt; br/& gt; A reverse mortgage a loan product, which Haus-und Wohnungseigentà use ¼ more mer 62 years and älter, over their own capital funds basis, over taxes to generate Erträge, without which sell house or on one ermöglicht, is new mortgage payment. Indeed the opposite mortgage is exactly what the title says, the opposite of standard mortgage. & lt; br/& gt; & lt; br/& gt; How reverse mortgage does other one than standard mortgage become? & lt; br/& gt; & lt; br/& gt; With standard mortgage of the applicants for the credit (or home-owners) makes the monthly payments to the creditor (or a bank or a mortgage bank), around the Rà ¼ ckzahlung the loan that the creditor ursprà ¼ nglich borrowed, around fà ¼ r the purchase or refinancing of the house. This amount covers interest that the creditor the applicant for the credit Gebà hren ¼ fà ¼ r the credit. With Reverse mortgage, the situation turned around; the creditor makes monthly payments to the applicant for the credit. However both in Standard-und Reverse Mortgage, secures the creditors its loan amount, by it the house as security. & lt; br/& gt; & lt; br/& gt; Do I make the monthly payments on a reverse mortgage? & lt; br/& gt; & lt; br/& gt; No. monthly payments is ckgezahlt fà ¼ r the credit fällig and the loan zurà ¼, if the Zà sells ¼ ge or the house, passes, or otherwise the owner for property changes & lt; br/& gt; & lt; br/& gt; Which factors determine the Höhe the reverse mortgage? & lt; br/& gt; & lt; br/& gt; There are some factors, like much money an applicant for the credit becomes from a reverse mortgage, like the value of the house, applicant for the credit (and CO applicant for the credit) to age, current Zinssätze and a granting of credit borders, which will receive können, determines standard fà ¼ r your geographical area. As rule of thumb, for each älter of the applicants for the credit is considered and the more valuable the house, the gröà Ÿ it to the Verfà ¼ gung loan amount. & lt; br/& gt; & lt; br/& gt; What können do we a reverse mortgage fà ¼ r the employment? & lt; br/& gt; & lt; br/& gt; The Erlöse from the reverse mortgage can be used fà ¼ r of everything, completely in the discretion of the applicant for the credit, although most debtors the use of these means nderungen fà ¼ r at home repairs or à „, expenditures fà ¼ r the health care, on other debts or fà ¼ r their is enough for planned vacation to settle accounts! Reverse mortgages are fà ¼ r nearly all types property with exception from cooperatives to the Verfà ¼ gung, although CO-OI-Eigentà ¼ more mer in some metropolises, in particular New York, should the local Möglichkeiten. & lt; br/& gt; & lt; br/& gt; Do I know a lump sum of payment from a Reverse mortgage? & lt; br/& gt; & lt; br/& gt; Eigenheimbesitzer können wählen, as them want their payments to receive, either as lump sum, the monthly payments or a line of credit. The line of credit is the most popular option, with nearly 60% the reverse mortgage applicant for the credit dafà ¼ r decides, the Möglichkeit, incomes or a lump sum from the line to the time of its choice to pull. & lt; br/& gt; & lt; br/& gt; What happens, if I beschlieà Ÿ e to sell my house? & lt; br/& gt; & lt; br/& gt; If the house sold and the Erlös from the sale of the mortgage amount à berschreiten ¼, the equilibrium gehört in favor of the applicant for the credit or their inheriting. & lt; br/& gt; & lt; br/& gt; What happens with my existing mortgage? & lt; br/& gt; & lt; br/& gt; Fà ¼ r reverse mortgage applicants for the credit with an existing mortgage, the mortgage mà ¼ ssen to be paid completely switched off, so that the new reverse mortgage only pledge right to the house will be. If the Erlöse from the Reverse Mortgage is not sufficient, pay themselves from the existing mortgage, will the applicant for the credit necessity to pay the entrance save or other sources the remainder of the existing mortgage amount. In this scenario the applicant for the credit an access to zusätzliche means does not become from the reverse mortgage, however they are not payment no more a mortgage! & lt; br/& gt; & lt; br/& gt; Do I know competent consultation, to receive before I a reverse mortgage? & lt; br/& gt; & lt; br/& gt; A very important aspect the reverse mortgage process is the consultation of the consumers that fà ¼ r the applicants for the credit erwägt a reverse mortgage is necessary. Their money lender can help you, consultation agencies and most programs by the Ministry is approved and à ¼ berwacht and/or AAR P. the consultation is necessary, in order to guarantee that the conditions and risks of the program are clearly evident fà ¼ to r you. Advisors are committed to everything, the effects of the new mortgage legally, with you to à ¼ berprà ¼ fen and, which your potential Möglichkeiten. & lt; br/& gt; & lt; br/& gt; Further articles à ¼ ber Reverse Mortgage find you under: http://www.bills. com/reversemortgage & lt; br/& gt; & lt; br/& gt;

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