Reverse mortgage eligibility and its criteria

Reverse mortgage eligibility and its criteria
As you approach retirement, most of your money has been invested in your home. A reverse mortgage is an excellent way to tap into your home’s equity. If you have paid off a home loan or have only a small amount to be paid, it is a good option to meet various financial goals. Here are the criteria for reverse mortgage eligibility: Personal criteria Age You must be 62 years or older, to apply for a reverse mortgage. Generally, as you grow older the Home Equity Conversion Mortgage (HECM) amount increases. Property The home should be your primary residence, and you need to live there for the entire duration of the reverse mortgage. Rental properties and vacation homes do not qualify for such mortgages. Home equity You should be the owner of your home outright or possess a minimum of 50% home equity. There is a possibility that you may qualify for a reverse mortgage despite having some outstanding balance on your existing home loan. However, the criterion is that you must first pay off the remaining mortgage from the sanctioned amount and meet other liens. The balance funds may be used for any other purpose. Using a reverse mortgage to refinance existing debt is beneficial in reducing your monthly cash outflows.

4 factors to consider when buying exterior doors

4 factors to consider when buying exterior doors
An exterior door serves multiple functions—it keeps the home and its occupants safe from outsiders, acts as an inviting entrance for visitors, and adds to the curb appeal—helping homeowners create a strong first impression. So, choosing the right exterior door can require careful consideration of various available styles, suitable materials, and pricing. To help make this decision easier, here are a few key factors to consider when buying exterior doors: 1. Material One of the most important factors to consider when buying exterior doors is the material. Here are the common options: Wood: Wood is a popular choice here, and several different types of wood can be used. The cost of a single door would depend on the type of wood used, such as cherry, hickory, knotty pine, mahogany, maple, pine, and white oak. These doors typically require regular maintenance, as they are prone to moisture damage and cracking. Metal: Metal is the most durable material for doors. It is generally affordable and requires little-to-no maintenance. However, metal doors come in standard sizes and cannot usually be trimmed to meet unique requirements. The material is also prone to denting and rust damage. Fiberglass: Fiberglass has become an increasingly favored choice, being a low-maintenance, customizable material that is less likely to fade, dent, rust, crack, or scratch.

Pros and cons of commercial security systems

Pros and cons of commercial security systems
As a business owner, one invests a lot of time and resources to establish a good reputation in the market. Therefore, it is crucial to protect one’s valuable assets and employees by upgrading their commercial security cameras. However, before investing in a security camera system, it is essential to consider the pros and cons of these systems to ensure that one’s investment provides a good return. Read on to learn more. Pros Protect one’s assets Most people install commercial security cameras to avert crimes and criminals. Although security cameras are primarily used to protect assets from intruders, they also serve other important functions. For example, in the event of a fire, burst pipe, or roof leak, assets can be damaged, but having a camera installed can help detect these issues earlier and reduce or eliminate potential threats. Bag insurance premium discounts Installing commercial security cameras can help detect environmental threats and criminal behavior earlier, which can result in fewer insurance claims. Most insurance companies are aware of these benefits and offer discounts for such installations. Therefore, it’s important to speak with an insurance agent before purchasing any new equipment to determine which systems can provide maximum discounts on premiums. Peace of mind It may not always be possible for the business owner to spend every minute of the day on the premises.

5 baby products to avoid buying

5 baby products to avoid buying
Taking care of a newborn child is a full-time responsibility, right from when they wake up till bedtime. The good news is there are a number of innovative products designed for the baby’s comfort, safety, and even entertainment. So, parents don’t have to constantly worry about their child’s well-being. However, despite positive reviews about must-have baby products, here are five commonly used ones to avoid at all costs and for a good reason. Sleep positioners Babies struggle to maintain proper posture and can roll over into an uncomfortable position while sleeping in the crib. Sleep positioners prevent babies from rolling onto their stomachs and are also used to elevate the head and back of babies. However, if a baby rolls into their crib bedding or presses their faces against a sleep positioner, they risk suffocating. Crib bumpers and bedding Crib bumpers are bedding accessories to prevent the toddler from sliding and hitting the crib slats or rails. However, there is a potential risk of suffocation if the infant rolls over and presses his/her face into the crib bumper padding. It is also not advisable for parents to use excessive bedding inside the crib to cradle the child’s position properly. All the extra layers add to the rollover problems.

6 lesser-known benefits for veterans

6 lesser-known benefits for veterans
Veterans are distinguished individuals who have previously served in the military, naval, or air services. Consequently, they have earned a range of benefits to support them in leading civilian lives. These benefits could come in handy in the long run by helping with finances. However, not everyone may be aware of the available benefits that they are entitled to receive, thereby missing out on essential support. So, here are a few lesser-known veteran benefits: 1. Life insurance Securing life insurance is an essential step that assures financial stability for loved ones. Veterans can get life insurance from the Department of Veteran Affairs or VA. A few options include the Servicemembers’ Group Life Insurance (SGLI), Veterans Group Life Insurance (VGLI), and Family Servicemembers’ Group Life Insurance (FSGLI). 2. Mortgage assistance Veterans can avail of the VA’s Home Loan Guaranty Benefit. Although provided by private lenders, the VA guarantees a portion of the loan, which allows lenders to offer veterans more favorable terms for the loan. This benefit can be reused for purchases of primary residences and even for refinancing existing home loans. 3. Free tax preparation As a veteran, one has access to certain resources that could simplify the tax preparation process and help them maximize their returns free of charge.

10 hacks to make the most of Cyber Monday

10 hacks to make the most of Cyber Monday
November is around the corner, and so is the season of countless sales and deals. However, venturing into Cyber Monday shopping without being adequately informed and preparing a proper plan is not a good idea. On the contrary, it can lead to unnecessary expenditure dampening one’s extensively chalked-out holiday plans. To avert such situations, here are ten hacks to follow this holiday season for having the best Cyber Monday ever: Go through previous years’ sales data for guidance Due to the ever-changing trends and moods of the season, and the short life span of the products, retailers usually do not recycle Cyber Monday offers. However, through previous years’ sales data, customers can predict what items will yield the best bargains. Generally, products like cosmetics, apparel, clothing, and electronics have emerged as the stalwarts of Cyber Monday sales. Prepare a well-chalked-out budget Preparing a budget plan is one of the most crucial things one must take care of before venturing into Cyber Monday shopping. According to experts, a well-chalked-out budget plan tends to reserve 20 percent on personal expenses, 50 percent on home essentials, like groceries, and the remaining 30 percent for costs related to recreation, including holiday shopping. Also, get a grip on your temptations and stick to the budget plan.

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5 early Black Friday deals to expect this year

5 early Black Friday deals to expect this year

Black Friday might be a couple of months away, but you need not wait until then to begin your annual shopping. Many retailers start advertising discounts weeks before and pick up the pace around Thanksgiving. To help you save time and money, here are five early-bird Black Friday deals that might be available sooner based on last year’s trends. Start shopping early to enjoy faster shipping and lesser supply issues! Save big on tablets, phones, and smartwatches Smartphones, tablets, and smartwatches are great items to gift loved ones during the holiday season. With Black Friday approaching, get ready for some exciting deals on these products from the top brands and retailers like Amazon, Best Buy, Target, and Walmart. You will find never-seen-before deals in stores and online that you can check out. Brands like Motorola, Samsung, and Apple offered over $100 off their best-selling phones last year, and you can expect better deals for 2022! But remember that the items on sale change regularly, so check the sites frequently to avoid missing out. Incredible deals on games, gaming laptops, and accessories Get the best savings on gaming accessories when some fantastic deals go live in a few weeks. There might be a massive price drop on games for PC, Xbox, and PS5.
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50 Black Friday 2022 sales to check out

50 Black Friday 2022 sales to check out

This year’s biggest Black Friday specials will likely offer some of the most substantial cuts ever across a wide range of popular businesses and brands. Stores are working hard to offer seasonal items and avoid supply chain problems. While major shops are expected to offer great bargains, it is essential to buy with local businesses, especially in the post-pandemic era. Based on the discounts offered last year, here’s a look at what you can expect this year. Nordstrom Nordstrom could offer up to 50% off hundreds of selected goods from leading brands, as was the case last year. Longchamp items, such as the Le Pliage Cuir Leather Shoulder Bag, were discounted by 20-30%. Kiehl’s skincare sets The Daily Hydrating Skincare Gift Set was discounted at $48 (original value $66), which includes full-sized versions of two Kiehl’s classics: Ultra Facial Cream with Squalane and the renowned Avocado Eye Cream, suitable for everyone. Home Depot Refrigerators Home Depot previously offered up to $900 off refrigerators. Refrigerator discounts of up to $900 are available at Home Depot on some of the greatest brands in large appliances. Shop for Black Friday deals on Samsung, LG, and Whirlpool appliances. Amazon Amazon has some of the best discounts, and the Black Friday sales are chock-full of must-haves!
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