Switch to LED LED lighting is also much more energy-efficient and lasts much longer. At a minimum, look for Energy Star-rated appliances – this should cover everything from computers and TVs to kitchen appliances and water heaters. It is better for the environment, but it will also significantly reduce your energy bills, or let you run your home on renewable energy. Sustainable house design is also about filling your home with appliances that consume lower energy. ![]() We’ve included some ideas on making your home a little more eco-friendly. Īpril 22nd is Earth Day, but you can make your home sustainable 24/7, 365. Borrowers must continue to make property tax, insurance, and other maintenance payments in order to avoid risk of default. is not acting on behalf of or at the direction of HUD/FHA or the federal government. With a reverse mortgage loan, homeowners are required to pay property taxes and homeowners insurance, use the property as their principal residence, and keep their house in good condition.1 American Financial Network, Inc. Interest and fees are added to the loan balance each month and the balance grows. The loan is repaid when the borrower no longer lives in the home. However, unlike a traditional mortgage, with a reverse mortgage loan, borrowers don't make monthly mortgage payments. ![]() Also like a traditional mortgage, when you take out a reverse mortgage loan, the title to your home remains in your name. A Home Equity Conversion Mortgage (HECM), the most common type of reverse mortgage, is a special type of home loan only for homeowners who are 62 and older. A reverse mortgage loan, like a traditional mortgage, allows homeowners to borrow money using their home as security for the loan.
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