28 Jan 2020
By RESCO Realty

How A Reverse Mortgage Can Help With Long-Term Care

Mortgage, ,
Anyone who has paid attention to the TV recently has likely seen a lot of commercials for something called a reverse mortgage. For those who might not know, a reverse mortgage is exactly that. In this option, people receive monthly payments from a lender in exchange for equity in their homes. In essence, this functions as an annuity. One of the major benefits of a reverse mortgage is that it can be used to cover the costs associated with long-term care. Over the next few decades, the number of elderly individuals in the United States is projected to double. For…
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24 Jan 2020
By RESCO Realty

Is A 15 Or 30 Year Mortgage Right For You?

Mortgage, ,
When someone is looking to purchase a house, they need to think about how long they want their mortgage to last. While a bank can structure a mortgage to last for any number of years, the most common lengths are 15 and 30 years. While a 30-year mortgage is typically more affordable, a 15-year mortgage is cheaper overall.  When someone is trying to decide how long they want their mortgage to last, there are a few important tips to keep in mind. The Benefits Of A 15-Year Mortgage There are a few important benefits that everyone should know about a…
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17 Jan 2020
By RESCO Realty

3 Crucial Questions To Ask Before You Co-Sign A Mortgage

Mortgage, ,
A mortgage is a significant responsibility. For this reason, many people have someone co-sign with them on their mortgage. Before agreeing to co-sign on any mortgage, it is important to ask the right questions. There are several crucial questions that everyone should ask before they co-sign on someone else's mortgage. What Does It Mean To Co-Sign On A Mortgage? Before signing that piece of paper, it is important to understand the responsibilities involved. Co-signing on a mortgage is a little bit different than co-signing for a credit card. The person who is buying the home, the primary signer, lives in…
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