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Reverse Mortgages!

Posted by Ivan Sanchez
Ivan Sanchez
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on Friday, 04 May 2012
in Gold Quest Group

Reverse mortgage is a type of financial loan that is mainly provided to those people older than 62 year of age. The main concept related to this type of mortgage is that it is the lender who gives the money rather than you paying it back. That is, you are not required to pay back the money till you live in the home agaisnt which you are going to take out the mortgage. This is totally unlike the regular mortgages, where you as the borrower are required to make the monthly payments to the lender.

Advantages and disadvantages – reverse mortgage

There are mainly three types of reverse mortgages available. One is the “single-purpose reverse mortgage” which is offered by some agencies under the local and state governments. Another type is the federally insured one and the third type is the“proprietary reverse mortgage” which is given by the private financial institutions that actually develop these loans.

Just as there are various advantages of a reverse mortgage, there are also some disadvantages too.

The advantages are:

  1. The equity that has built up on the home can be used for various other purposes as required

  2. You are not required to make any payments to the lender till you leave the home or pass away

  3. The reverse mortgages are available as tax-free loans

  4. You won’t owe more than the value of your home even if you live longer than usual or expected

  5. You need not fear that you are going to default as you are not even required to make any payments

  6. The lenders who offer reverse mortgage can have no claim over your assets or your income

  7. There are no restrictions on how you are going to sue the cash you will be able to get through a reverse mortgage

  8. There are no pre-qualifications required with regards to your income in order to take out a reverse mortgage

The disadvantages of a reverse mortgage are:

  1. It can prove to be disadvantageous if you are planning to move out of this home in the near future

  2. There is the impossibility of your heirs not getting the home after you pass away

  3. Loss of equity on the home because of the lack of maintenance can cause problems as the amount that the lender will pay can lower

  4. If you take out the tax free reverse mortgage, you may not be eligible to obtain any other forms of public benefits

  5. The closing costs on reverse mortgages are in general relatively higher in comparison to the ordinary mortgages

So, these are the advantages and disadvantages of a reverse mortgage, you will have to weigh amongst these and decide if you are going to take out one such mortgage.

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2012 BBB Accredited Business: Gold Quest Group - Houston Home Loans, Refinance Mortgage Loans and Hard Money Lender!

Posted by Ivan Sanchez
Ivan Sanchez
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on Tuesday, 07 February 2012
in Gold Quest Group

Gold Quest Group, LLC is officially a 2012 Better Business Bureau Accredited Business!  We are a Houston-based mortgage broker serving all of Texas. Today, the firm offersFHA, VA, Fannie Mae, Freddie Mac, Ginnie Mae, USDA, SBA, Hard Money, Super Jumbo and Reverse Mortgages since 2001. Gold Quest Group is a pinnacle award-winning company with thousands of satisfied residential and commercial clients. We have a proven track record of funding loans anywhere from $50k to $15 million. Whether a 1st time home buyer or a seasoned investor, Gold Quest Group can fulfil your real estate financial needs with a best-in-market approach and quickness in funding. 

Gold Quest Group believes in the responsibility to educate the general population of our community regarding the American Dream – home ownership. It is only when a home owner understands the elements of a mortgage that a best decision can be taken. This is what makes us unique in the market place. As previous clients can attest, Gold Quest has provided excellence in customer service.

Gold Quest Group understands the difficulty of choosing the right mortgage company to work with; it's important to partner with someone that has a track record. We take pride on our integrity and knowledge to assist you in your real estate financial needs. Gold Quest Group is customer service-oriented, trustworthy and easy to contact!


Press Contact:
Gold Quest Group, LLC
701 N Post Oak Rd., Suite 204
Houston, TX 77024
713-641-6458
Ivan @ GoldQuestGroup.com
www.GoldQuetsGroup.com

 

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Gold Quest Group: New Web Site! Houston’s Home Loans, Refinance Loans, Hard Money Loans and more!

Posted by Ivan Sanchez
Ivan Sanchez
Ivan Sanchez has not set their biography yet
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on Saturday, 14 January 2012
in Gold Quest Group

Gold Quest Group, on January 13, 2012, released a renovated and totally improved website. The site aims to make the process of obtaining home loans, refinance loans and hard money loans to be as easy as possible! The website showcases the various services offered by the company. Gold Quest Group specializes in Houston mortgages, debt consolidation, mortgage credit, and other type of financial services.

Gold Quest Group is one of the top Houston Mortgage based companies and through its online venture it plans to expand its customer base. Though expanding, Gold Quest would never sacrifice its customer care as they have a 12 year record to treat any multi-million deals, the same way as a fifty-thousand dollar one. We have enjoyed a long, successful history of originating FHA, VA, Fannie Mae, Freddie Mac, Ginnie Mae, USDA, SBA, Hard Money, Super Jumbo and Reverse Mortgage loans since 2001. We are an award-winning company with thousands of satisfied residential and commercial clients.

Check out our recent deals and testimonials on our new website to see some of our THOUSANDS of satisfied customers that helped us achieve an A+ with the better business bureau! We commit ourselves to Houston and surrounding areas borrowers and brokers without scarifying customer service!

Gold Quest Group understands the difficulty of choosing the right mortgage company to work with; it's important to partner with someone that has a track record. We take pride on our integrity and knowledge to assist you in your real estate financial needs. Gold Quest Group is customer service-oriented, trustworthy and easy to contact!

“The product sales itself, Gold Quest is well known for their clean ethical standards in the mortgage industry, and that is their source of success!” –Ivan Sanchez, GQG Director of Marketing.

Gold Quest Group is located in Houston near the galleria at 701 N Post Oak Rd, Suite 204, Houston, Texas 77024. To apply for a real estate loan, please contact 713-621-6458. For support, general questions and checkups, please call 713-621-6466.

Please visit the brand new www.goldquestgroup.com for additional details! 

 
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Whether you are considering a purchase, refinance or equity cash out, Gold Quest Group, LLC highly considers superior knowledge and integrity to suit all types of financial needs. Indeed, we have a wide variety of mortgage products with great rates: FHA, VA, Fannie Mae, Freddie Mac, USDA, SBA, Hard Money and Reverse Mortgages. We have most types of grant or loan programs, take SBA and USDA for example, and down payment assistance programs offered by institutions such as the Federal Housing Administration, the City of Houston, Harris County and more. We can offer every kind of residential and commercial mortgage, investor, rehab, swing or bridge, home equity, construction and reverse mortgage loans among many others.


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