Reverse Mortgage and HELOC Books Worth Reading
Following are some recommended books on the subjects of home equity borrowing and reverse mortages. You can order the books by clicking on the cover image.
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Publisher: John Wiley & Sons
Title: Retire On the House : Using Real Estate To Secure Your Retirement
Author: James Keene
Description: Use your home to finance your retirement
Forgot to save for retirement, but bought a house? Saved a lot and also bought a house? Whatever your situation, Retire on the House can show you how to best use your home equity for a long and prosperous retirement.
Focusing on both retirement and real estate, Retire on the House is designed for retiree homeowners who want to use their home equity to finance their retirement. Filled with valuable insights and practical advice, this unique guide illustrates a number of ways this can be done, including:
- Selling your current home at the top of the market, moving to a less expensive residence, and retiring on your profits
- Obtaining rental income from your current home by renting to boarders
- Remodeling your home into units for much higher rental income
- Three options for obtaining cash from your home without selling, remodeling, or renting it
- Reducing or eliminating retirement expenses such as taxes
- Balancing your real estate portfolio by diversifying with other asset classes
Many of today’s homes have tremendous value, and with Retire on the House as your guide, you’ll discover how to use this value to achieve the retirement you deserve.
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Publisher: For Dummies
Title: Reverse Mortgages For Dummies
Author: John E. Lucas
Description: Fully explains how reverse mortgages work
With special advice for the adult children of seniors
Reverse mortgages are a great way for you to keep your home, even on a retiree’s fixed income. But with so many loan options, where do you start? Relax! This friendly guide covers all the basics so you and your adult children can understand and take advantage of these handy loans — and keep the home you love.
Discover how to
- Decide if a reverse mortgage is right for you
- Shop for the best reverse mortgage products
- Find out if your home is eligible
- Walk through each step of the process with confidence
- Find a counselor who can help you
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Publisher: John Wiley & Sons
Title: The New Reverse Mortgage Formula: How to Convert Home Equity into Tax-Free Income
Author: Tom Kelly
Description: The New Reverse Mortgage Formula explains reverse mortgages in easy language so seniors and their family members can fully understand and benefit from these useful loan products. Reverse loans allow seniors to convert part of their home equity into tax-free income, letting seniors easily borrow against the value of their home without selling it. Safer than ever, today’s reverse mortgages are non-recourse loans and lenders do not share in any appreciation or accrued equity. Safe and simple, reverse mortgages are a valuable option for senior homeowners having trouble living on a fixed income or in need of extra cash for any unforeseen expense.
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Publisher: Alpha
Title: Pocket Idiot’s Guide to Reverse Mortgages (The Pocket Idiot’s Guide)
Author: Jennifer A. Pokorny
Description: What are they? How do they work? What do they do?
There are more than 100,000 active reverse mortgages in the U.S. today, and the number is growing. If Social Security benefits are excluded, about half of all senior citizens would fall below the poverty line based on their income, and for many people over 65, much of their wealth is concentrated in their home equity. As health care costs rise, many people are turning to reverse mortgages for supplemental income. This book outlines, informs, counsels, and lays out the facts on reverse mortgages.
-Anticipation of Social Security problems is increasing the popularity of reverse mortgages
-More people are expected to turn to reverse mortgages to supplement their income
-The Consumers Union of U.S. Inc. says that AARP, HUD, Fannie Mae, and the reverse mortgage industry all agree on the importance of high-quality reverse mortgage counseling and information
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Publisher: Relentless Press
Title: The Insider’s Guide to Home Equity Borrowing
Author: Pete Hitesman
Description: Discover Home Loan Secrets from an Industry Insider.
Everything that you must know about home equity loans and lines of credit in one place. Written by an experienced loan consultant, jam packed with over 100 insider tips to save money and get a great rate.
Foreword by Joe Kennedy, former president of E-LOAN.
Suggestions for finding the best lender, explanation of your “ratios”, valuation models and the pricing matrix. What “doc types” are, explanation of Stated Income and No Document deals.
Uses for home equity borrowing, risks, and pitfalls to look out for. Includes a chapter on credit and credit reports. How to get the best valuation for your property.
Every homeowner should know and understand the critical information contained in this book.
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Publisher: For Dummies
Title: Personal Finance for Dummies, Fourth Edition
Author: Eric Tyson
Description: Covers the financial impact of the recent tax cuts
“Detailed, action-oriented advice . . . A standout personal finance primer.”
—Kristin Davis, Kiplinger’s Personal Finance
Do you need help managing your financial priorities? Relax! This friendly guide, now updated to include changes to the tax code, gives you just the information you need to take control of your finances, buy the right insurance coverage, and weather economic downturns.
Praise for Personal Finance For Dummies
“. . . provides tremendous insight and guidance into the world of investing and other money issues.”
–PBS Nightly Business Report
“Tyson doesn’t tell you what to do or consider doing without explaining the hows and whys – and the booby traps to avoid – in plain English.”
–Chicago Tribune
“Smart advice . . . . Rewards your candor with advice and comfort.”
–Newsweek
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Publisher: Warner Business Books
Title: Real Estate Riches: How to Become Rich Using Your Banker’s Money
Author: Dolf de Roos
Description: A large percentage of the rich in America today make their wealth (or keep it) through real estate. In REAL ESTATE RICHES, self-made real estate mogul Dolf De Roos reveals why investing in property is so astoundingly simple and lucrative, as well as insider secrets for getting into–and ahead in–this high-profit business.
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Publisher: Dearborn Trade, a Kaplan Professional Company
Title: Financing Secrets of a Millionaire Real Estate Investor
Author: William Bronchick
Description: Develop an insider’s knowledge of real estate financing (traditional and creative) while remaining legal and ethical.
A brief but thorough overview of the mortgage loan market, from the concept of inflation to the different categories of lenders and loans. This book builds a solid framework for understanding how to make money in real estate by choosing the right financing.
Knowing the workings of the mortgage loan market as well as all the options available for financing are the keys to success for real estate investors and homebuyers. Financing Secrets of a Millionaire Real Estate Investor offers a comprehensive overview of the basics, followed by clear, concise explanations of the many financing options investors should consider when looking to maximize profits. Demystifying such intriguing concepts as lease/options, sale/leasebacks, double closings, and more, this practical guide gives buyers the knowledge they need to make the best possible purchasing decisions.
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Publisher: Brookings Inst
Title: The Home Equity Lending Industry: Refinancing Mortgages for Borrowers with
Author: John C. Weicher
Description: This book provides the first systematic study of the home equity lending industry from a public policy perspective. Home equity lending–refinancing mortgages for homeowners whose credit ratings do not meet the normal underwriting standards of prime lenders–has grown rapidly during the past dozen years. But this form of lending is not very well known or understood outside the industry itself. “Home equity lenders take greater risks than conventional prime lenders,” notes Weicher, and they incur higher rates of delinquencies and defaults, and higher servicing costs. Hence, they charge higher interest rates. But because of the risks and uncertainties involved, this form of investment is not for the faint of heart. To increase understanding of this rapidly growing industry, Weicher identifies the demographic and economic characteristics of borrowers; mortgage rates and terms compared with those on prime loans; origination and servicing costs; rates of delinquency and default; and the costs incurred by real estate owned due to foreclosure. The book provides a sound foundation for investors, public policymakers, and the general public interested in this fast-growing segment of the financial marketplace.
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Publisher: Berkley Publishing Group
Title: Pearl Polto’s Easy Guide to Good Credit: What Every American Needs to Know About Credit Cards/Mortgages/Home Equity Loans and Much More
Author: Pearl B. Polto
Description: