Due West is tucked in the Upcountry of South Carolina, an area rich in Revolutionary War and Civil War history. A quaint little college town, Due West takes its name from an old trading post and today has a beautiful arts center, leafy neighborhoods and historic homes.
First settled in 1775, Rogersville is steeped in history. It is in eastern Tennessee and was founded by the grandparents of frontiersman Davy Crockett. Its post-Colonial downtown is compact, charming and listed on the National Register of Historic Places. Dotted with galleries, breweries, eateries and shops, it is popular with tourists.
How You Can Benefit from a Reverse Mortgage
If you are looking for a way to have a more comfortable retirement, a reverse mortgage may be a way to finance it.
If you are age 62 or better, own your own home, have enough equity in it and plan to stay in it during retirement, then you can probably qualify for a reverse mortgage, letting you elimnate your current mortgage payment and receive tax-free money for retirement (or anything else). You keep ownership of your home until you leave it and continue to pay taxes and insurance on it.
A reverse mortgage is not for everyone - fees can be high and there are a few other downsides - but for many people, this mortgage product can be a financial lifesaver. Talk to a HUD representative or reputable mortgage lender to see if a reverse mortgage is right for you.
Live Oak sits between Tallahasse and Jacksonville in northern Florida. Visitors come to canoe and hike at Suwannee River State Park, where the blackwater Suwannee River runs wild and a 19th-century steamship and two ghost towns hold a bounty of historical secrets.
Gulfport is a working seaport on Mississippi's mid-coast. Thanks to its seven miles of white sand beaches and the popular Island View Casino Resort, it is also a tourism destination.
Historic, safe Elloree is nestled in central South Carolina, about an hour south of Columbia, and it has been cited by national publications as an example of small town revitalization done right.
Desire a Nicer Home Without a Mortgage Payment?
If so, consider a Home Equity Conversion Mortgage (HECM) for Purchase. This is a reverse mortgage that lets people age 62+ purchase a new home by using a reverse mortgage.
How does it work? Buyers must put down approximately 45% to 62% of the new home's purchase price, depending on the buyer's age and other factors. This money usually comes from the buyer selling his current home. The rest of the purchase funds come from the HECM loan.
For example, a person sells his home and nets $250,000 from the sale. With a HECM for Purchase Loan he can then buy a new $450,000 home by putting down $225,000 (50%), keeping $25,000 cash in his pocket and financing the remaining $225,000 home price with the reverse mortgage loan. Best yet, the buyer will have no monthly mortgage payments.
Talk to a reputable reverse mortgage lender for more information.
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