Reverse Mortgages Five Reasons You Should Think Twice Before Getting a Reverse Mortgage

A verse of a mortgage loan is secured by a house, but unlike a conventional mortgage that decreases over time, a reverse mortgage increases over time.

Reverse mortgages are designed for older buildings that have a home with equity, and they want to unlock equity and turn it into money so they can use it for other purposes such as home repairs or to pay off other debts.

With a reverse mortgage the property borrows money, but has no obligation to repay, from living in your home, so it can be used as a way of consolidating debt.

Each months interest is added to the principal amount of the loan, and when the property moves, they want to repay the loan, or the house is sold and the proceeds will revert to the mortgage lender.

While a reverse mortgage may be a good idea for some people, here are five reasons a reverse mortgage may not be a good idea for debt consolidation loan:

First, reverse mortgages are much more expensive than traditional mortgages , Traditional form of a mortgage may be a better method of consolidating debt.

Second, reverse mortgages are a form of debt, many elderly people want to avoid debts, especially as the age, so repayment of the debt may be a better option than debt consolidation.

Third, reverse mortgages must be paid off by the death of the property, or if the borrower has not lived at home for 12 months. This could be a problem if the borrower is placed in a home, and then recovers, only to find the house sold.

Fourth, while the regular Social Security and Medicare benefits are not made, other programs such as Medicaid and Supplemental Security Income (SSI) may be affected.

Finally, there are significant costs up front, so reverse mortgage is usually only a good idea for people who want to live in their homes at least, five years

In general, reverse mortgages have advantages and disadvantages, and need a proper investigation before determining whether a reverse mortgage makes sense for you. A good source of information is reverse mortgage http://www.debt-consolidation-loans-information.com/reverse-mortgage-debt-consolidation.htm and more information about the consolidation of debt can be found at http:// www.debt --consolidation loans-information.com



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Business in China Advice

When you are doing any kind of business in China such as trading with China and you are having appointments in China, you should pay attention to the following: China is a highly regulated economy, make sure you know the proper procedures, rules, regulations and protocols. Personal relationships or "Guanxi" are crucial to business success in China. Introductions should be arranged through the right channels. Chinese business people are unlikely to meet with "strangers". It is assumed that you will be punctual to meetings, if not early. Custom dictates formality in business meetings. The senior member of the group should enter the room first and sit at the center of the table. The senior member of each group usually guides the discussions. A significant component of business is conducted after hours through banquets and entertaining. Small gifts are welcomed as mementos of your visit. Helpful Advices in Mainland China Some joint ventures in the People s Republic of China collapse because the two sides fail to understand one another. Even basic assumptions in international business circles such as the finality of a signed contract are subject to differing interpretations by people from China . All parties expecting to do business in China should secure the services of skilled translators and negotiators. Business is conducted at a slow pace. People from China value patience more than punctuality, so negotiators should allow more time than they normally would in most other countries. Social activities, particularly banquets and sightseeing excursions, are part of the business day. Accepting this hospitality may not enhance your business position, but rejecting it will certainly harm it. Personal contact is an integral part of business negotiations in China. Be extremely cautious when commenting on the country or government, even though there may be changes taking place. And despite relaxing attitudes, never refer to Taiwan as a country (both governments in China and Taiwan regard Taiwan as an integral part of China ). Ignore apparent rudeness in the streets and markets as most people from China do; it is a mark of disinterest more than anything else. Patience and grace will win respect faster than showing irritation or arguing. Chinese traditionally list their surnames first. In China , where the pinyin system of Romanization is used, the given name is written as one word: for example, Zhou Enlai. The polite form of address follows the surname: for a man it is Xiansheng (Mr.); for a woman it is Furen (Mrs.) or Xiaojie (Miss). Ordinary Chinese often address one another as Tongzhi (comrade). Hong Kong Courtesy and civility may be in short supply on the streets, but it is an essential commodity when dealing with educated people in Hong Kong. Avoid visiting Hong Kong during the China New Year, when shops and restaurants close for family celebrations. Be aware that asking how much someone earns of weighs is not considered impertinent; do not be offended. Due to crowded living quarters, most social life and business entertaining revolves around restaurants. Even at casual meals, splitting the bill is considered very bad form. Chinese traditionally list their surnames first, but many Hong Kong people have adopted Western given names and use surnames last for business.
This article was researched and produced by Posicionarte for China Trading Company , 2007 Author Bio:
Eric Castro Mattas, is chief editor of Posicionarte researching and producing articles for China Trading Company. If you need products from China please visit www.chinatrading-company.com



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