Life, Money & Real Estate

Real Estate Market Update 2023

8 min · 27 de dic de 2022
Portada del episodio Real Estate Market Update 2023

Descripción

What are the trends for end of the year and how is the market looking for 2023, here in your Market Update For More Information Contact Aurora Betancourt, MBA, CIPS Realtor CA DRE #01467453 aurora.betancourt2012@gmail.com [aurora.betancourt2012@gmail.com] 510-734-0999

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episode Reverse Mortagages artwork

Reverse Mortagages

A reverse mortgage is a mortgage loan, usually secured by a residential property, that enables the borrower to access the unencumbered value of the property. The loans are typically promoted to older homeowners and typically do not require monthly mortgage payments. Borrowers are still responsible for property taxes or homeowner's insurance. Reverse mortgages allow older people to immediately access the home equity they have built up in their homes, and defer payment of the loan until they die, sell, or move out of the home. Because there are no required mortgage payments on a reverse mortgage, the interest is added to the loan balance each month. The rising loan balance can eventually grow to exceed the value of the home, particularly in times of declining home values or if the borrower continues to live in the home for many years. However, the borrower (or the borrower's estate) is generally not required to repay any additional loan balance in excess of the value of the home. For More Information Contact Aurora Betancourt, MBA, CIPS Realtor CA DRE #01467453 aurora.betancourt2012@gmail.com [aurora.betancourt2012@gmail.com] 510-734-0999

27 de dic de 20227 min