Fhce 5200 test 1 - Study guides, Class notes & Summaries

For households struggling to pay all their bills, where one of the homeowners is at least 62, what is one option to consider? correct answersA reverse mortgage A reverse mortgage differs from a traditional mortgage how? correct answersBecause the borrower receives a lump sum or a stream of payments, but doesn't make monthly payments on the loan What happens over time on a reverse mortgage? correct answersThe balance due grows as the monthly interest and other fees are added to the loan ba...

FHCE 5200 Test 1

FHCE 5200 Test 1

For households struggling to pay all their bills, where one of the homeowners is at least 62, what is one option to consider? A reverse mortgage A reverse mortgage differs from a traditional mortgage how? Because the borrower receives a lump sum or a stream of payments, but doesn't make monthly payments on the loan What happens over time on a reverse mortgage? The balance due grows as the monthly interest and other fees are added to the loan balance. What can a reverse m...