Most people are aware that there is no debtor’s prison in America. Simply owing someone money, outside the realm of criminal activity, will not land you in jail. For example, if you fall behind on your credit card bills, you may eventually be summonsed to court to be ordered to make restitution, but you will…
If a divorcing couple owns real estate together, once the divorce is final and their title of Tenants by the Entirety is dissolved, the question then becomes – “Can creditors place liens or judgments against the home due to debts of the former spouse?” In short, the answer is yes. What does the term Tenants…
(Columbia, MD) After retiring, many people take out reverse mortgages in order to use the equity in their homes to provide additional income to live on in retirement. While a seemingly simple and straightforward concept, the decision to take out a reverse mortgage can have catastrophic consequences if not handled properly. What is a Reverse…
Last week, the Federal Government made an important announcement about Fannie Mae and Freddie Mac loans that has the potential to impact a significant number of people carrying mortgages. The principal reduction program from the Federal Housing Finance Agency, which has been discussed heavily in the news during the last year, is happening. If you are behind on…
Is it Time to Relax? Mom and Dad are gone. You know they had a reverse mortgage on the house – What happens now? What can you do? What should you do? Top Ten Things You Should Know. a reverse mortgage can be a wonderful thing – they allow people on fixed incomes to get paid and…
