Creado por dylan_earl
hace más de 9 años
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Pregunta | Respuesta |
What is house rich cash poor? | Home value - Mortgage Balance Retirement = drop in income, all money is in equity of home |
Three forms of Home Equity Conversion | Reverse Mortgage Life Estate Sale Leaseback |
Why move into retirement housing? | Too much space in home, Want accommodations Don't want ownership chores Live with similar aged people |
Three Retirement options | Loan Stock Arrangement Shared Equity Arrangement Life Tenancy |
A loan stock arrangement is where the tenant pays an interest free loan to sponsor of house project. Then it is refunded upon Death. T/F | True |
Shared Equity is where the tenant buys a part of the dwelling and receives a portion of appreciation too. T/F | True |
Life Tenancy is where senior prepays rent on a unit in lumpsum. Price of tenancy is based on age, marital status etc. T/F | True |
What is a Life Lease? | Buying the right to live somewhere (not own it) and then you can sell rights to live there at market value |
What is good about life leases? | Sense of community with board/property management etc. |
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