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How reverse mortgages could improve financial stability for older homeowners

Housing Wire

CM : Firstly, reverse mortgages, whether government-insured or proprietary, are non-recourse loans. Also, an independent appraisal during the loan process locks in the property’s market value at the time the reverse mortgage loan is funded. Not tax advice. Consult a tax professional. †

Mortgage 397
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Financing Options for First-Time Homeowners

Eppraisal

Mortgage lending is about trade-offs, so expect compromises when you make yourself a riskier borrower for lenders. Conventional Mortgages Conventional mortgages are home loans not insured by the federal government. Lenders can easily resell these loans to investors on secondary markets and get them off their books.

Finance 69
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26 Reasons to Get an Appraisal

Realvals

By providing an unbiased estimate of a property’s value, an appraisal ensures that you know the real value of your property. Estate planning, property tax appeals, divorces, and gifting, are some of the many others. The appraisal helps in establishing the loan-to-value (LTV) ratio.

Appraisal 145
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12 Types of Expert Witness Assignments for Appraisers

McKissock

How are divorce appraisals different from standard mortgage lending appraisals? These expert witness assignments are similar to the “before value” appraisals in condemnation cases. Tax appeal. Typically, this would be for local property tax appeals. Income tax (IRS) issues. Bankruptcy.

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Anatomy of a Commercial Real Estate Appraisal: A Top 17 Q&A Guide

The Robert Weiler Company

If you’re reading this article, you will likely need a commercial real estate appraisal for property being sold, mortgaged, taxed, insured, or developed. The information that arises helps enlighten those who own, manage, sell, lend money, or invest in commercial real estate property.

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Mortgage Term Glossary

Assurance Financial

Mortgage Lending Terminology . Assessed Value. The assessed value of your home is how much it is worth in the eyes of the tax agency in your municipality. The assessed value is used to calculate your property taxes. It can be less than the market or appraised value of your home.

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Say What? Home-Buying Lingo You Should Know

Zillow

Conventional loan : A home loan not guaranteed by a government agency, such as the FHA or the VA. Days on market (DOM) : The number of days a property listing is considered active. Escrow account : An account required by a lender and funded by a buyer's mortgage payment to pay the buyer's homeowners insurance and property taxes.