SENIOR
CITIZEN
MORTGAGES




MORTGAGE ASSISTANCE FOR SENIORS

HOW TO GET MORTGAGE ASSISTANCE LINKS

REVERSE MORTGAGES

REVERSE MORTGAGES ELIGIBILITY

HOME GRANTS FOR SENIORS

HOW TO MORTGAGE ASSISTANCE LINKS

HOUSING VOUCHERS

MORTGAGE ASSISTANCE LINKS



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SECTION 1



MORTGAGE
ASSISTANCE
FOR
SENIOR
CITIZENS




Many senior citizens live on fixed income after
retirement. Escalating living costs, medical
expenses and rising taxes can leave little extra
cash for mortgage payments. Taking advantage of
these economic constraints, unscrupulous brokers
and moneylenders sometimes cheat senior citizens
in their mortgage deals.

Paperwork and financial jargon is further intimidating
to many. However, there are assistance programs than
seniors can use to make informed choices about their
mortgage payment options.



Mortgage Assistance for Senior Citizens
http://www.ehow.com/info_10074721_mortgage-assistance-senior-citizens.html



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SECTION 2



HOW TO
GET
MORTGAGE
ASSISTANCE
FOR
SENIORS
LINKS




Help Paying Rent for Senior Citizens
http://www.ehow.com/info_12067386_paying-rent-senior-citizens.html" class="Heading6 title article

How to Get Senior Citizen Tax Assistance
http://www.ehow.com/how_6589960_senior-citizen-tax-assistance.html

Home Grants for Senior Citizens
http://www.ehow.com/list_5934904_home-grants-senior-citizens.html

Grants for Low-Income Senior Remodeling
http://www.ehow.com/info_8052262_grants-lowincome-senior-remodeling.html

Mortgage Help for Senior Citizens
http://www.ehow.com/info_8243547_mortgage-senior-citizens.html

Mortgage Policies Affecting Senior Citizens
http://www.ehow.com/info_8570789_mortgage-policies-affecting-senior-citizens.html

Personal Senior Grants
http://www.ehow.com/info_8417534_personal-senior-grants.html



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SECTION 3



REVERSE
MORTGAGES




Most people are actually unaware about the
benefits of reverse mortgages and for them
knowing the definition of reverse mortgage
is very important. The definition of reverse
mortgage is very straightforward. It is just
a federal loan program that is available for
senior homeowners. Using this facility, senior
homeowners can borrow money depending upon
the actual equity in their homes. There are three
primary factors that affect the reverse mortgage
capability of the homeowners. Those factors are
equity of the home, age of the person and interest
rate provided by the bank.

The funds you get from reverse mortgage can be
utilized in multiple ways. The homeowners can use
this fund as monthly payments for dispensing loans
or it can be used as a line of credit or it can
also be used as lump sum amount to pay particular
expenses. The most beneficial thing about reverse
mortgages is the homeowner does not have to repay
the loan amount in his/her lifetime. The homeowners
can use their homes as their primary residence and
still do not have to pay the loan amount in their
lifetime. This is why every senior homeowner should
seek for reverse mortgages.



What are the basic eligibility criteria
for HECM reverse mortgages?



There are certain guidelines for HECM reverse mortgages
which are provided by the Department of Housing and Urban
Development (DHUD). Every senior homeowner must be aware
of these guidelines which are given as follows.

1) Every senior homeowner who wants reverse mortgage
facility must own the actual property which is intended
for HECM reverse mortgage.

2) The person who wants this loan must have age of 62
years or older than 62 years.

3) The homeowner must be actively occupying the intended
home in the form of his/her primary resident place.

4) The homeowner must not have any due federal debt.

5) The participation of the homeowner in consumer
information session provided by approved HECM
counselor is also essential to get approval for
the reverse mortgages.



Reverse Mortgage
http://seniorhud.com/definition-reverse-mortgage/#ixzz1v6QePrvE



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SECTION 4



WHO
IS
ELIGIBLE
FOR
A
REVERSE
MORTGAGE?




You are eligible for a reverse mortgage if you
meet the following conditions

You are 62 years of age or older

You are the property owner or you have a small
mortgage balance

The property is your principal residence

You do not have outstanding or unpaid federal debt

You are able to take part in a session on
consumer information given by an approved
Home Equity Conversion Mortgage (HECM)
counselor.

No income or employment qualifications are
required of the borrower

Remember, you can be awarded a reverse mortgage
regardless of current income or employment
qualifications. If you meet the above criteria,
the next step is to contact a reverse mortgage
specialist.



Who is eligible for a reverse mortgage?
http://seniorhud.com/#ixzz1v6RWRPvT



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SECTION 5



HOME
GRANTS
FOR
SENIOR
CITIZENS




The recent financial devastation resulting
from the national recession and natural
disasters has affected every American,
especially America's senior citizens. The
Senior Job Bank's statistics show that many
of these seniors are looking for resources
and grants to provide financial assistance
during hard times because they depend
heavily on their relatives and charities
to provide the financial support necessary
in maintaining their homes.

In order to aid these seniors, many community
action partnership agencies and non-profit
organizations offer local, state and federal
program information on various ways to apply
for loans and grants that assist with mortgages,
rent, refinancing and housing vouchers.



Home Grants for Senior Citizens
http://www.ehow.com/list_5934904_home-grants-?senior-citizens.html



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SECTION 6



HOW TO
MORTGAGE
ASSISTANCE
LINKS




Grants for Home Repair for Senior Citizens
http://www.ehow.com/info_8613694_grants-home-repair-senior-citizens.html

Grants & Loans for Seniors
http://www.ehow.com/about_5449955_grants-loans-seniors.html

Grants for Senior Homes
http://www.ehow.com/facts_7348485_grants-senior-homes.html

Help Available for Purchasing a Home for a Senior Citizen
http://www.ehow.com/facts_7659568_available-purchasing-home-senior-citizen.html

Help for Senior Citizens Losing Their Homes
http://www.ehow.com/way_5723679_senior-citizens-losing-homes.html

Home Improvement Grants for Senior Citizens
http://www.ehow.com/about_5547576_home-improvement-grants-senior-citizens.html

How to Find Grant Funding For Senior Citizens
http://www.ehow.com/how_5633817_grant-funding-senior-citizens.html

Senior Grants to Repair a Manufactured Home
http://www.ehow.com/info_12057718_senior-grants-repair-manufactured-home.html



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SECTION 7



HOUSING
CHOICE
VOUCHERS
FACT
SHEET




What are housing choice vouchers?


The housing choice voucher program is the federal
government's major program for assisting very
low-income families, the elderly, and the disabled
to afford decent, safe, and sanitary housing in the
private market. Since housing assistance is provided
on behalf of the family or individual, participants
are able to find their own housing, including
single-family homes, townhouses and apartments.

The participant is free to choose any housing that
meets the requirements of the program and is not
limited to units located in subsidized housing
projects.

Housing choice vouchers are administered locally
by public housing agencies(PHAs). The PHAs receive
federal funds from the U.S. Department of Housing
and Urban Development (HUD) to administer the
voucher program.

A family that is issued a housing voucher is
responsible for finding a suitable housing unit
of the family's choice where the owner agrees
to rent under the program. This unit may include
the family's present residence. Rental units must
meet minimum standards of health and safety, as
determined by the PHA.



Housing Choice Vouchers Fact Sheet
http://portal.hud.gov/hudportal/HUD?src=/program_offices/public_indian_housing/programs/hcv/about/fact_sheet



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SECTION 8



SENIOR
CITIZEN
MORTGAGES
LINKS




Community Action Partnership
http://www.communityactionpartnership.com

Department of Aging Home
http://www.aging.state.pa.us

Habitat for Humanity Int'l
http://www.habitat.org

Home Equity Conversion Mortgages
http://www.benefits.gov/benefits/benefit-?details/709

Home Equity Conversion Mortgage Consumer Fact Sheet
http://www.fanniemae.com/global/pdf/homebuyers/?hecmstriper.pdf

Household Quotes
http://householdquotes.co.uk/

Housing and Mortgages for Seniors
http://www.mortgageloan.com/seniors/

How Does a Reverse Mortgage Work
http://seniorhud.com/

HUD Disaster Resources
http://www.hud.gov/info/disasterresources_dev.cfm

Preservation Resource Center
http://www.prcno.org

Retirement Solutions with a Reverse Mortgage
http://www.mortgagecalculator.org/helpful-advice/retirement-reverse-mortgages.php

Reverse Mortgage Alert
http://reversemortgagealert.org/

Senior Reverse Mortgage
http://www.seniorreversemortgage.com

U.S. Department of Housing and Urban Development (HUD)
http://www.hud.gov

What Older Adults Need to Know About Money
http://njaes.rutgers.edu/money/pdfs/older-adults-money-advice.pdf



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