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How to qualify for a reverse mortgage

How to qualify for a reverse mortgage

A reverse mortgage provides the elderly access to equity in their homes and supplements their income. With its flexible repayment option, it gives homeowners more control over their money. However, the government has laid out strict rules and guidelines concerning reverse mortgage eligibility criteria. So, if you’re considering a reverse mortgage, read on to know the reverse mortgage eligibility criteria and the types of reverse mortgages. Reverse mortgage eligibility criteria The first criterion for a reverse mortgage is that the primary homeowner must be at least 62 years of age. If your spouse is under the age of 62, you might still be eligible if you meet other reverse mortgage eligibility criteria. If you’re not 62 or older than 62, then you won’t qualify for a reverse mortgage even if you satisfy the criteria mentioned below. You must be the primary resident of the home you’re seeking a reverse mortgage for. Note that vacation homes or rental properties do not qualify. You must either entirely own the house or have at least 50% equity in it. If you have any mortgage balance remaining while applying for a reverse mortgage, you must be in a financial position to pay off that balance.
5 benefits of opting for debt settlement

5 benefits of opting for debt settlement

Debt settlement can be a financial lifesaver for many. Managing debt is quite a difficult task. With every advancing payment due date, one may feel their finances getting tighter and tighter. Between paying for a house mortgage, student loans, credit card debt, personal loans, and many other debts, it is quite common to miss out on paying one payment. Although it may not seem like a big problem initially, this is not good for financial health in the long term. This is where debt settlement comes in. There are multiple benefits to availing debt settlement offered by some of the top 10 debt settlement companies. No more bills With debt settlement, no more bills will be incoming in the mailbox. Debt settlement results in the closure of a debt account by the creditor. In such cases, one will not be able to use their credit cards again. However, this can be beneficial since it will prevent further debt in the future. With debt settlement, there is a permanent erasure of debt. No more collection calls With mounting debt, the calls of creditors are always incessant. If one if falling behind on too many bills, they are bound to be subjected to creditor calls throughout the day.
3 indicators of dehydraion in kids

3 indicators of dehydraion in kids

Dehydration is a condition in which the body loses more fluids than normal. It can affect infants, young children, adults, and seniors. You can experience mild to severe symptoms depending on how much fluids the body loses and what is being done to replenish the supply. However, children and infants are at a higher risk of getting dehydrated due to many underlying causes. Herein, we explain in detail the common visual indicators of a developing condition. Upon prompt diagnosis, you can immediately contact your primary care provider. Here are a few signs to look out for; Dry mouth Saliva is a natural lubricant that the body produces to moisten and clean your mouth. It also helps digest food better and prevents the risk of contracting a fungal or bacterial infection in the mouth. The body needs to stay hydrated to produce enough saliva during the day and at night. One of the visible signs in children and infants includes parched dry lips and a dry mouth. Understand that dry mouth is a mild stage of dehydration and can be controlled early on. So you must ensure the child drinks plenty of water. You must also replenish electrolyte levels in their body after an active day.