Top Community Businesses in Baltimore, MD 21224
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Flood Co-Emergency Water Damage Restoration Repair Service & Sewage Removal Clean Up Contractor
By PaulH757 at Citysearch June 12, 2012
Baltimore Flood Co is the Emergency Water Damage Restoration Contractor I called for flood repair service in my house when it flooded with sewage. They did a nice job and billed my insurance company directly for the sewage damage removal service. They were the right choice for me when I needed sewage water damage help fast. ...read more
Mount Clare Museum House
By CherylT at Citysearch June 15, 2010
People who visit Baltimore and think it's all about the Inner Harbor should visit this historic mansion. Dating back to before the Revolutionary War, it's like a little bit of Colonial Williamsburg in Baltimore's backyard. For something out of the ordinary, they also host private gatherings. Check out their website for more information. ...read more
Evan's Sunny Days Daycare
By Terry C. at Judy'sBook January 16, 2010
This daycare is beautiful inside also this daycare staff is extremely professional. This daycare is very bright with nice colors for the kids, and the infant room is one of my favorite. The curriculum is abeka and much more. ...read more
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Yeh Rishta Kya Kehlata Hai
https://titlidrama.com Yeh Rishta Kya Kehlata Hai(transl. What is this relationship called?), popularly known as YRKKH is an Indian Hindi-language romantic family drama television series that airs on StarPlus and streams on Disney+ Hotstar. It premiered on 12 January 2009 and is the longest running Indian television soap opera.Produced by Rajan Shahi under the banner of Director’s Kut Productions, it formerly starred Hina Khan, Karan Mehra, Shivangi Joshi and Mohsin Khan. Since October 2021, it stars Pranali Rathod and Harshad Chopda. Release date: 12 January 2009 (India) Genre: Drama Country of Origin: India Language: Hindi Also Known As: ये रिश्ता क्या कहलाता है ...read more
By Titli Drama May 31, 2023
Community Education Foundation (CEF)
Contact Community Education Foundation (CEF) at (888) 684-2735 in Baltimore, MD, to join our nonprofit organization. nonprofit organization ...read more
By Community Education Foundation (CEF) December 09, 2014
Reverse Mortgages in Baltimore Maryland
Misconception #1 REVERSE MORTGAGES ARE ONLY FOR DESPERATE SENIORS, OR FOR THE “HOUSE RICH, CASH POOR.” INCORRECT. The reverse mortgage is an excellent financial planning tool that has been used by homeowners from all walks of life to enhance their retirement years. While some have needed the cash from a reverse mortgage more than others, the growing popularity of this product is evidence of its benefit in a wide array of financial circumstances. Am I eligible for a reverse mortgage? To qualify for a reverse mortgage, you must: Be at least 62 years old. In the case of a couple or co-owners, both must be 62 if their names appear on the title to the home. ·Be a homeowner with equity in your home. You may qualify even if you have an outstanding balance on your first mortgage. Single-family homes and qualified condominiums, townhouses, manufactured homes, and 1- to 4- family owner-occupied residences are eligible. Cooperative apartments may be eligible by year-end 2002. If one spouse or co-owner is under 62, that person’s name must be removed from the title so that the other person can qualify for the reverse mortgage. Misconception #2 YOUR HOME MUST DEBT-FREE TO QUALIFY FOR A REVERSE MORTGAGE. INCORRECT. Even seniors with an outstanding first mortgage or some other debt on heir home may qualify for a reverse mortgage. The proceeds of the reverse mortgage, though, must first be used to pay off such debts. How much money can I get? This depends on a few factors, including your age at the time of loan closing, the value of your home, the amount of built-up home equity, and interest rates at the time of origination. Other factors are the type of reverse mortgage product and particular payment option you select. Calculators that can help you estimate how much you could receive under different products and payment options are available at NRMLA’s Web site (http://www.reversemortgage.org), lenders and counselors. What are my payment options? You decide how to receive the money generated by a reverse mortgage. In general, your payment options are: An upfront lump sum payment; Line of credit; Fixed monthly payments for as long as you remain in your home (or a predetermined, shorter period); or, if you choose. A combination of monthly income and line of credit. How much does a reverse mortgage cost? What are the upfront and closing fees? Many of the same costs of home purchase mortgages apply to reverse mortgages. You can expect to be charged an origination fee, an upfront mortgage insurance fee (for FHA Home Equity Conversion Mortgages, or HECMs), an appraisal fee, and certain other standard closing costs. In most cases these fees and costs are capped and may be financed as part of the reverse mortgage. Do I need to get an appraisal of my home to get a reverse mortgage? Yes. Since the value of your home is a factor in determining how much money you can get from a reverse mortgage, an appraisal is required. Normally the lender will order the appraisal, which is paid for by the borrower at the time of application. Do I need a lawyer to apply for a reverse mortgage? Legal counsel if not required. However, NRMLA encourages you to seek the advise of a legal, tax, or financial advisor before committing to a reverse mortgage. Misconception #3 THE BANK OWNS THE HOME AFTER YOU GET A REVERSE MORTGAGE. INCORRECT. You own your home and retain title throughout the life of the reverse mortgage. Once you permanently move out of your home or pass it to your estate, the loan must be repaid. Am I required to receive counseling before I get a reverse mortgage? Yes. Counseling, one of the safeguards of reverse mortgages, is required for all three current reverse mortgage products before you can obtain a loan. Is the money from a reverse mortgage taxable income? Will it affect my Social Security benefits or other government benefits? Funds from a reverse mortgage are tax-free; it’s your money, not additional income. A reverse mortgages does not affect regular Social Security or Medicare benefits. To assess the impact, if any, on other federal or state assistance or medical programs, you may wish to consult with your local Area Agency on Aging (to locate, call 1-800-677-1116, or visithttp://eldercare.gov), a reverse mortgage lender, or a tax attorney. Who owns title to my home while my reverse mortgage is outstanding – the bank or me? You retain title to your home during the period when you have a reverse mortgage, just the same as with a regular home purchase mortgage. Am I required to pay anything during the course of the reverse mortgage loan? No. The flow of payments is reversed during the term of the reverse mortgage – the lending institution pays you. However, you are responsible for keeping up payments for your homeowner’s insurance and property taxes, and to maintain the condition of your home. Are there any limits on how I can use the funds from a reverse mortgage? No. Borrowers have spent the funds from reverse mortgages for a variety of purposes. Among these have been to pay health care expenses, supplemental retirement income, home improvements, home modifications, higher education, gifts to others, and long term care insurance premiums. Some have used a reverse mortgage to purchase recreational vehicles, start a small business, and travel the Amazon. Some have used reverse mortgages to eliminate expenses by paying off mortgages and credit card debt. The only limit on how you use a reverse mortgage is your imagination. What is the interest rate on a reverse mortgage and how is it determined? The interest rate varies by type of reverse mortgage. Ask me for details. Misconception #4 WHEN A REVERSE MORTGAGE COMES DUE, THE BANK SELLS THE HOME. INCORRECT. When the loan must be repaid, you or your heirs can either pay the balance due on the reverse mortgage and keep the home, or sell the home and use the proceeds to pay off the reverse mortgage. How much will be owed when my reverse mortgage comes due? The amount that is owed to the lender typically includes the amount borrowed to date, the amount of accrued interest, accrued mortgage insurance premiums (for the HECM), servicing fees, and any other costs and fees financed as part of the loan amount. In no event will the repayment amount exceed the value of the home at the time that the loan comes due. There are no prepayment penalties for the current reverse mortgage products. What happens if I move out of my house after I get a reverse mortgage? Once you no longer occupy your home as your principal residence for more than one year, the reverse mortgage comes due and must be repaid. Similarly, if you sell your house, the reverse mortgage comes due. What happens when my house gets passed to my heirs? Once your home is passed to your heirs, the reverse mortgage comes due. Your heirs may either pay the balance due on the reverse mortgage and keep the home, or sell the home and use the proceeds to pay off the reverse mortgage. If they sell the home, they get to keep any excess sales proceeds. Next Generation Financial Services is a 1 Mariner Bank Joint Venture created to bring new unique applications of financial products to the marker. 1 Mariner Bank is a leading mortgage lender in the mid-Atlantic region, originating over $1 billion in mortgages annually. 1 Mariner Bank is ranked as one of the top 100 fastest growing businesses in Fortune Small Business magazine. ...read more
By Reverse Mortgages Baltimore Maryland April 14, 2009