Released on: May 8, 2008, 1:00 pm

Press Release Author: David Forer

Industry: Financial

Press Release Summary: With more seniors looking to supplement their income Debt
Solutions is offering a free 11 page report about reverse mortgages.

Press Release Body: Reverse mortgages are typically insured by the FHA which
guarantees your

monthly income stream. Even if the lender defaults you will get your monthly

payments on time.

To be eligible for this income generator you need to be homeowner with

equity and at least 62 years of age. The other important guideline is that

you must undergo counseling from a HUD-approved counseling agency and family

members are also encouraged to join in these sessions.

There is a limit on the amount you can borrow based on this formula:

.Age of the youngest borrower
.Interest rate of the day
.Value of the house(The appraised value or the FHA lending limit)

You may have to pay $300 upfront for an appraisal. The other costs can be
put into the loan balance.

The amount you receive can be dispersed in many ways, here are the 4 most

popular:
.Lump sum- all at one time
.Term- monthly cash advance fixed for a period of time
.Tenure- monthly cash advance as long as you occupy the house
.Line of credit- you can draw any amount and whenever required from
this account(within the home equity limits)

An FHA insured reverse mortgage comes in many different ways but the key

component is the lender. To find out the best lenders please call me at 414

-531-4035 and ask for Dave

For the basics of reverse mortgage you can log onto:
http://wisconsinreversemortgages.net or
http://dangersofreversemortgag

Web Site: http://dangersofreversemortgages.com

Contact Details: 14260 west Greenfield Avenue
Brookfield, WI 53005
414-531-4035 Direct Line to David Forer
davidf@debts2zero.com