Posted by dave guest on February 04, 2008 at 15:54:05 from (4.229.177.249):
Be careful. Usually pays only a fixed predetermined amount. Not forever. Average is pro bably 50% of what home is worth. When this amount is reached, no more money. You still have to maintain home, taxes, insurance, utilities. Some people on SSI have been dropped because this mortgage is considered income unless you spend entire amount each month. Source Michigan Bar assoc. Lady I was attempting to help had 100K house, was told mortgage co. would pay $500 month until total of $45K then no more payments. No home to leave to her kids, nobody, the end. Please get a lawyer or someone very knowledgeable in real estate.
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Today's Featured Article - Sunday Drives - by Cowboy. Summer was finally upon us here in Northern Maine. We have two types of industry up here, one being "Forestry" (Wood Products) and the other "Farming" (Potatoes). There is no shortage of farm tractors and equipment around here! I have been restoring old Farm Tractors for the past 6 years, and have found it easier and less expensive to hit all the auctions and purchase whole tractors for parts needed. My wife who works at a local school, and only has weekends and summers off, while on t
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