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Foreclosure of properties occurs when the homeowner evades or fails to pay the mortgage payments or
defaults on taxes imposed by the state and federal government. Foreclosure listings must contain the list of all
properties that are to be auctioned.
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Equity Release - Considerations
By Sean L Williams
When looking into equity release it is essential that you seek the advice of a specialist such as a
financial advisor. A financial advisor will be able to assist you in determining whether this step is the
right step for you. The first thing you should know is that equity release should be considered as a last
resort option.
Equity release is the process through which you can obtain cash. You do this through the value of
your home. Here is what you get, the right to retain the home until you die or move into care and you
do not have to repay the equity until you home is sold. Sounds like a great deal but is it really. For
some it may be the only option but because of the actual break down of expense it is one of the most
expensive ways you can raise cash.
What can the cash obtained through equity release be used for? The answer is just about anything
you can think of. It can help with Inheritance Tax planning or any other type of assistance you may
need. Here is how it works. There are two primary ways that equity release works. The first is
Reversion and the second is Lifetime mortgage.
Under the Reversion plan you could sell all or part of your home for tax free cash. Keep in mind
however that the percentage of the home that you sell will not equal the cash you will get. Normally,
you will get less than the percentage value of your home. Under the lifetime mortgage plan you are
granted what