Preserving the 30-year prepayable fixed-rate mortgage - it's like the bedrock of the housing system - is critical.
What the mortgage bubble was all about was big banks like Goldman Sachs taking big bundles of subprime mortgages that were lent out largely to low-income, highly risky borrowers, and applying this kind of magic-pixie-dust math to these bundles of securities and slapping AAA ratings on them.
When the congregation becomes the norm by which sermons are measured, a minister has put a mortgage on his soul.
Unlike other loans, a reverse mortgage doesn't have to be repaid until the borrower moves out of the home or passes away.
Unlike other loans, a reverse mortgage doesn't have to be repaid until the borrower moves out of the home or passes away.
Consider a 15- or 20-year fixed-rate mortgage instead of a 30-year, if you can afford the monthly payments - they may not be as high as you think.
When the congregation becomes the norm by which sermons are measured, a minister has put a mortgage on his soul.