Learning about 401(k) plans key terms is a good place to start if you're considering starting up a retirement fund for your employees. From automatic enrollment to matching, after-tax and pre-tax contributions, 401(k) plans have several terms you may want to know before beginning one of these programs. Read More »
The 401k plan grew from a little known tax code loophole--which is where the 401k name came from--to the most common way workers invest for their retirement. This industry possesses trillions of dollars in allocated 401k retirement plan contributions. Read More »
Are you interested in reverse mortgages? A reverse mortgage is a fairly new idea, this occurs when a home owner "sells" their home back to a creditor or a bank over time for a set payment. There are many details of this sort of mortgage which may vary, however in all instances the homeowner does keep their home. Generally a set payment is made by the buying party each month to the homeowner, in exchange when the homeowner passes away or moves, ownership of the home is returned to the bank of the lending company.
If you are looking for a reverse mortgage, you may have quite a few options. There are several things to think about as you consider who to take out this sort of mortgage with. First carefully consider the terms. Different lenders (in this case buyers) will have different terms, term lengths, and payoff amounts. The amount also depends on the worth of the home of course. Be sure the company you take the mortgage from has a reputation for fair and prompt payments and compare what other companies offer. It may be a good idea to review any contract with a realty specialist or lawyer prior to signing to ensure the terms are understood.
Going over you options is highly recommended. Business.com has links to lenders who may offer this service.
Browse the links to the left for reverse mortgages.