Home Made Money - Home Equity Conversion - AARP - Home-Made Money Consumer's Guide to Home Equity Conversion AARP American Association of Retired Persons Inside: Table of Contents Foreword............................... 5 Introduction.................. ......... 7 Getting Money from Your Home What Home Equity Conversion Plans Have in Common How Home Equity Conversion Plans Differ Home Equity Conversion Versus "Home Equity Loans" Special Purpose Loans ............... .. 10 Deferred Payment Loans Property Tax Deferral Reverse Mortgages .......................15 What Reverse Mortgages Have in Common How Reverse Mortgages Differ FHA-Insured Reverse Mortgages Reverse Annuity Mortgages Uninsured Reverse Mortgage Sale Plans ........................................................31 Sale Leaseback Life Estate Appendix A: Summary of Home Equity Conversion Plans ....................................37 Appendix B: Toward a Better Understanding of Home Equity Loans and Home Equity Conversion...............................................40 Appendix C: Effect on Public Benefits..........42  For More Information ....................................45 Tables* No. Table 1 Basic Types of Home Equity Conversion Plans 2 Differences in Home Value With and Without a Deferred Payment Loan (DPL) 3 Home Value, Amount Owed, and Remaining Home Equity If Property Taxes Are Deferred Every Year 4 Comparison of Forward Mortgage to Reverse Mortgage 5A Increases in Loan Balances on a Reverse Mortgage Over Three Months 5B Increases in Loan Balances on a Reverse Mortgage Over Ten Years 6 Three Types of Reverse Mortgages 7 Monthly Loan Advances on an FHA-Insured Tenure Reverse Mortgage at Various Ages and Home Values 8 Monthly Loan Advances on an FHA-Insured Tenure Reverse Mortgage at Various Loan Costs 9 FHA-Insured Reverse Mortgage Payments By Type of Loan Advance 10 Total Loan Cost Rates on an FHA Tenure Reverse Mortgage Page 8    11    Maximum Monthly Loan Advances on    28     Uninsured Reverse Mortgages 10    12    Four Different Uninsured Reverse    29     Mortgages on an $80,000 Home at     10% Interest 14    13    Monthly Payment to a Seller on a    32     Loan Made to a Buyer When Home     Value is $70,000 16    14    Monthly Payment to a Seller on a    33     Loan Made to a Buyer When Home 17    Value is $100,000 17    Figure 19 22    1 The Rising Loan Balance on a Reverse 18 Mortgage *Tables 8,10,12, and 13 are adapted with 23    permission from "Retirement Income on the House;' National Center for Home Equity Conversion, Apple Valley, MN, 1993. Item Details:  Magazine      Condition:  Used, good condition     Size:  Standard, magazine     Media:  Soft cover      Other:  USED, 45 pages, (c) 1987, 1990, 1991, 1993 View My Other Items For Sale Shipping Shipping: Save 25% on shipping for each additional eligible item you buy from ObscurBooks.com. Location: San Jose, California (Silicon Valley in the San Francisco Bay Area), United States We gladly ship WORLDWIDE. *The estimated delivery time is based on the shipping service selected, and when we receive cleared payment. We ship daily!! Special shipping request? Just let us know. And, feel confident that your shipment will be packaged securely so it arrives safely at your location. Payment Payment Methods: * PayPal * Visa * Master Card * Discover * American Express You can feel confident & secure ordering 24 hours a day protected by PayPal. And, because we are a verified PayPal merchant. Official PayPal Seal Terms of Sale Policies: Return policy: The buyer has 7 days to return the item (the buyer pays shipping fees). The item will be refunded. We want you to be satisfied!! About Us About Us: READ MORE. PAY LESS. Books, Publications, Periodicals, Magazines, Newspapers, Historical / Collectors Items, Merchandise & Gifts. 100% Satisfaction Guaranteed. WORLDWIDE SHIPPING. Specialties: Unusual, different, interesting, hard-to-find, out-of-print books, publications, periodicals, magazines, newspapers, manuals. Things you may not find anywhere else. Also, a lot of stuff that would be filed under "Other" -- this is where you find it!! email: [email protected] telephone: (408) 597-6869