Reverse mortgages allow the borrower to receive monthly payments instead of making payments to the lender. These mortgages are available for those aged 62 or older and who already own a house with equity, notes the Feder... More »

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According to the Federal Trade Commission, a reverse mortgage works by letting homeowners exchange some of their home equity for cash without selling the home or paying extra monthly bills. The FTC explains that with a r... More »

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Dangers of reverse mortgages include their complexity, potentially pushy sales pitches, high fees and the possibility of the surviving spouse being evicted if the other dies, notes Investopedia. There might also be stric... More »

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A title loan is a short-term loan in which the borrower offers the lender the title to a vehicle as collateral for a loan; in the case of a motorcycle title loan, the borrower offers the lender the title to a motorcycle ... More »

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Revolving credit is a line of credit where a borrower is not bound by a set number of payments to pay back the loan, but is instead free to use the funds whenever they are needed. For individuals, an example of revolving... More »

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Due to the fact that New Jersey is a judicial foreclosure state, a lender must go through a court to repossess a home after the mortgage is considered in default, which typically consists of three or more months of misse... More »

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Some mortgage loans will have a co-signer release option, but most mortgages cannot release a co-signer unless the original borrower refinances the loan. However, a co-signer release option can be requested at the signin... More »

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