Summary of European Banking and Reverse Mortgage
The European Guide on Banking and Reverse Mortgage Loans was written and developed to serve as a one stop reference guide for reverse mortgage information pertaining to Europe. The guide serves as a guide to both practitioners and intending practitioners of reverse mortgages. The book covers a bit of reverse mortgage history in several European history and the various forms it is being practiced in Europe. The European Guide on Banking and Reverse Mortgage Loans has become a valuable cant-do-without tool in the reverse mortgage industry in Europe.
Reverse mortgage concepts are basically the same across the world but some countries have unique features and variants in the way that they practice theirs. The standard qualifying age requirement is 62 years but some countries use an age a year or more above or below this. The European Guide on Banking and Reverse Mortgage Loans thus helps a mortgage practitioner in any country in Europe. It also has the listed requirements of various countries on how to qualify for reverse mortgage loans.
The first segment of the book covers general information on reverse mortgages. What it is, how to qualify, the types, how to access the funds, benefits, possible drawbacks and the usual laws used to govern its practices. This segment explains even to one without any prior mortgage knowledge all there is to know on reverse mortgage and its features. It also gives the dynamics behind running a reverse mortgage calculator. This segment is made up of 4 chapters.
The next segment addresses the unique features of reverse mortgages in various European countries. First it contrasts the European style with the American style pointing out similarities and differences and then it starts to examine each countries unique reverse mortgage program features. The book is a valuable tool to mortgage experts, practitioners, educators and customers.