debt consolidation

if someone wants to get out of debt today it is pretty simple with a debt consolidation plot
but it may get a bit tough at times, I suggest you get as much information as possible online on this first,

a excellent place to start in my humble opinion is:

http://umgarticles.atspace.com/debt-consolidation.htm

Bag-Ten,

The reverse mortgage equity reserves or lines of credits grow at the same rate as the interest being charged against the borrower including the FHA mortgage insurance payment of .5% a year. So to figure out what someones line of credit growth rate was at any time you have to know what the current interest rate is being charged. FHA reverse mortgage interest rates are tied to the 1 year Treasury Bill plus 1.5%. In 03 the average T-Bill was around 1.25%. So to figure out what the return was in 03 for a reverse mortgage line of credit you would figure 1.25%(T-Bill) + 1.5%(Interest rate) + .5 (FHA mortgage Insurance) = 3.25% Growth rate for the Line of Credit. This return fluctuates accordingly so as the rate goes up it goes up or just the opposite. For example today that growth rate is 7.22%.

You can look at the history of the T-Bill here and calculate what the return was at any time with the above formula.

http://www.erate.com/1_year_t-bill_index_adjustable_rate_mortgage_arm.htm

I hope that helps. This is all I specialize in so if you have any other questions please feel free to contact me.

Thanks,
Brandon

bburns@griffinloans.com