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Gaithersburg, MD Real Estate News

Can you save that senior from a foreclosure?  A reverse mortgage solution. A referral turned our attention to the needs of a widow that owns a home in an affluent section of Montgomery County, Maryland. Since the death of her husband, she has struggled with her personal finances. Real estate taxes have increased. The cost of medications has her paying out of pocket for the portion not covered by Medicare. Home maintenance costs have been a burden and now the home needs a new heating system that she can not afford. Fortunately, the mortgage balance is low but she is now late on her mortgage payments. Her credit is now damaged and she faces a foreclosure if she does not do something. The answer is yes.  She can avoid foreclosure. The obvious option is the sale of her home to pay off the m...
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By Roy Kelley
(Retired)
Good Saturday Morning In Kentlands It is a very cold morning in Kentlands and predicted to be the coldest day of the year. We are fortunate that it is not snowing. As you walk through your community this weekend, have your camera in hand to capture the colors of the season. Watch carefully and you will notice the daily changes. Double check that list of resolutions to make sure you are on track for your diet and exercise program as all of us strive for good health this year. The photographs were taken with my Canon PowerShot G11 camera. The location is the Kentlands community in Gaithersburg, Maryland. Life is very good in Montgomery County. Have an outstanding weekend! Some may think it is silly to take pictures of dead leaves. I enjoy the colors of winter. Some greenery may still be f...
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Could a reverse mortgage help this buyer? The growing senior population has greatly increased the number of real estate transactions and the opportunities for real estate professionals in the senior market. The youngest buyer in case is 73 years old and owns a home that should net $700,000. There is no mortgage. They want to sell their present property and purchase a home with a more suitable floor plan as a new primary residence. The issue that bothers them is to have an adequate retirement income that will support their planned activities. Fortunately, they live is a highly marketable area and the sale of their present home should not be difficult. The have found a less expensive home that they like at $500,000. They want to know if a reverse mortgage will help them maximize their ret...
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