A home loan is the largest loan that most of us will ever take out. A home purchase represents the biggest purchase that a person can make. Most home loans are either 30 or 15 years. But the average is about 30 years on a fixed rate. After a few years have gone by, it makes sense to wonder how you can pay off your loan faster. These tips can help you get ahead.
Over the last decade, reverse mortgages have been aggressively pitched in TV ads as an easy way for seniors to cash in their home equity to pay for living expenses. However, for many, improper use of the product -- such as pulling all their cash out at one time -- has led to significant financial problems later, including foreclosure.