From: "$cott" 
Newsgroups: alt.invest.real-estate
Subject: Re: Structure Mortgage letter
Date: 17 Apr 2006 00:46:57 -0700
   posting-account=k3VBhw0AAAAqyRyNDLcMVc8wJ9OlvlQz

If you are retired and over the age of 62, you might want to consider a
reverse mortgage.

A total household income of 45K per year could be qualified for a loan
amount between 155K-160K if using a 30 year fixed loan @ 6.25%.
Conversely, a total household income of approx. 65K would be required
to support a 228K @ 6.25%.

If you are both retired living on a fixed income, this type of loan
with a scheduled payment shock in either 5 to 10 years and not
advisable unless you either expect an increase in income, intend to
refinance before the adjustment period or intend to sell the property
before the loan adjusts.

Regards,

Scott Miller
National Commercial and Residential Lender/Broker
1.877.716.6495
EZMortgageLoanz@aol.com

www.RealEstate-IQ.com
www.EZMortgageLoanz.com

Dazzler wrote:
> Well I just have to figure out the right payment we need to pay in
> order to pay these off in 30 years or whatever.  I mean whatever money
> we don't spend at the end of the month could always be paid on this
> super mortgage loan.  Since we only bring in about 45k a year since
> they are retired.