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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When a borrower on a mortgage dies, assuming the deceased was the only borrower on the loan, typically the remaining balance of the loan becomes due. If there is a secondary borrower, such as a spouse, that person may as... More »

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Some of the pitfalls of reverse mortgage programs include the risk of losing one’s home when the elderly owner requires nursing home care, notes Forbes. A lender may foreclose a home upon the elder’s death when his heirs... 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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