If you are at least 62 years of age or quickly approaching that age, you may be looking forward to or just starting to enjoy your retirement. On the other hand, you may be struggling to figure out how to support yourself on a reduced retirement income. A reverse mortgage may help you, but you may not understand exactly how it works. Figuring out such reverse loans can be difficult due to all the unusual definitions and procedures associated with them. Here is what you need to know when wading through the unique reverse mortgage application process.
Reverse Mortgages Versus Home Equity Conversion Mortgages
One thing that may confuse you is the phrase “home equity conversion mortgage.” What makes it different from a reverse mortgage? The answer is not much. The big difference is an HECM, as it is more commonly called, is offered by a government organization, like the Federal Housing Authority (FHA). Such a loan is government ensured, while a loan offered by a public reverse mortgage lender is only government regulated.
Total Reverse Mortgage Home Equity Versus Available Home Equity
The next thing you need to understand is the difference between total reverse mortgage home equity and available home equity. The total home equity is what your home is currently worth. A reverse mortgage calculator is used to determine the available home equity you can borrow, which is only a certain portion of the total. The reason for the difference is government regulations designed to protect you and your reverse mortgage lender.
Reverse Mortgage Borrowing Terms to Pick From
There are many ways to borrow reverse mortgage money. They all begin with using the reverse mortgage calculator to see how much equity is accessible. Once you have that figure, you can set the terms by which you want to receive it. One common choice is long-term regular installment payments. Receiving those payments at scheduled times can help you pay predictable ongoing bills, such as utility costs.
Another reverse mortgage borrowing term you can select is one large payment. Often, such a choice is best when you have a sudden large expense to pay. For example, if a medical bill puts you in debt during retirement, a lump sum can relieve that financial pressure. Alternatively, you can choose a third borrowing option, which is a home equity line of credit. Similar to a credit card, it allows you to borrow money up to a certain amount only when retirement expenses pop up that your fixed income cannot cover.
What Makes a Reverse Mortgage Great for Retirees
A reverse mortgage is a retiree-only loan you cannot get until you reach the retirement age of 62. It is perfect when you retire because you do not have to pay any part of it back for an extended period. A standard home mortgage requires ongoing partial repayments starting almost from the moment you borrow the money. Without that stress, you can spend reverse mortgage funds as you see fit to make your retirement more comfortable, or even more fun.
Ways to Spend Reverse Mortgage Funds
You have to spend part of your reverse mortgage funds paying the fees associated with the loan, but those fees are typically taken off the top before your lender gives you the rest of the money. Similarly, the funds needed to pay any existing home loan you have are immediately designated for that purpose. After such fees are removed, the funds left over are yours to spend. You can use them for bills, essential purposes or non-essentials. You can even use such funds to pay for vacations or home repairs. There are no limitations on the purposes for which you may use the money.
How to Make the Most of a Home Movie Night
Movie nights are so popular these days, especially now that the days of paying for every film you watch are gone and instead you now have a choice of hundreds at your fingertips for a small monthly payment, with services like Netflix or even free films on apps like BBC iPlayer. Nights like this are a great way to unwind and have fun with family and friends, or even just with a partner or by yourself. Whoever you’re sharing your movie night with, make sure it’s one to remember by following these few simple steps.
The key to a great movie night is creating the perfect environment. First things first, make sure there is plenty of comfortable seating as you and your guests are going to be sitting for a couple of hours; bring in some extra cushions and footrests from elsewhere in the house. Light some scented candles too add to the atmosphere, and you need to make sure the temperature is just right too. You can also provide blankets just in case anyone gets cold. If you’re having a few people over, crack a window so it doesn’t get too stuffy.
When it comes to snacks and drinks, a glass of wine or a beer are perfect for relaxing but make sure you provide non-alcoholic options too. There are so many easy movie night recipes you could try. Most people will go for the traditional popcorn, but you could also try some savoury options like garlic dough balls or pretzels. Try to avoid snacks that make a mess as it’s easy to not pay attention when you’re engrossed in a brilliant film. For the ultimate in convenience, invest in a mini fridge to keep your drinks cool, as it also means you don’t have to miss any of the film.
The right technology is crucial when it comes to movie night. You will of course need a screen big enough for everyone to see and if you really want to go all out, take a look at this Home Cinema Design. Your lights need to be dimmed to create an exciting atmosphere and to enable everyone to be able to see the screen clearly, so make sure you have a few lamps dotted around the room if you don’t have a dimmer switch. Try to make sure there is no light directed onto the screen too. The position of your speakers needs to create a balanced stereo sound experience to enhance viewing pleasure, so make sure they are placed on each side of the room and close to where people will be sitting. And lastly, choose your film wisely. Think carefully about your audience and read reviews first to make sure you don’t end up disappointed.
To ensure a relaxing, disruption free movie night, try to avoid inviting chatter boxes or young children (unless you’re having a child-friendly evening). You’ll probably need to stick to a certain age group in order to be able to choose a film that suits everyone, and to avoid people becoming restless and distracted. Depending on the film and the company, you may want to take regular breaks from the film to discuss certain scenes but clarify this before the film starts to avoid breaking the flow of the film for those who prefer to watch it all the way through. And lastly, have a designated remote-control operator to avoid arguing over things like pausing and volume, which can disrupt the atmosphere.
If you prepare the perfect environment, organise your technology, prepare food and drink and choose your company carefully, you can have the perfect move night. For more entertainment ideas, whether it’s for you and the kids or just you, take a look at chaosandkiddos.com.
5 Interior Design Themes You can Feature the Le Corbusier Sofa Lc3 in
You can appreciate the beauty of a furniture piece in an individual fashion, but its true colors are only apparent when it becomes a permanent fixture in an interior design style. Here are 5 themes that you can feature the Le Corbusier Sofa Lc3 in quite successfully:
1. Be bold and eclectic
Bold and eclectic go hand in hand, but if you’re thinking that the Le Corbusier Sofa Lc3 is too modish to be able to emulate properly within such a vibrant style, than think again. Just take a look at this image – the colorful upholstery of the sofa couples really well with its artful surroundings and makes the whole space feel really vivacious and colorful.
2. So you are a traditionalist
Just because the design of the Le Corbusier Sofa Lc3 leans more towards the modern side does not mean that you cannot feature it in a traditional style interior design. In fact, this image proves just the opposite. The tall barrel arched windows coupled with the transitional ambiance make an amazing backdrop for the placement of the Lc3 sofa and its accompaniment. In fact, the modern looks of the sofa help add beautiful contrast within the ambiance that is enhanced even more by the juxtaposed color scheme and nature-based accessories.
3. Getting on your conteporary
The contemporary style of interior design is extremely dynamic and the Le Corbusier Sofa Lc3 is timeless enough to be featured in it beautifully. Just take a look at this image – the Lc3 stakes a charismatic presence within the whole ambiance, which is enhanced even more by the beautiful accompanying furniture, the statement art, and the backlit background. All of these things work together to enhance the overall look of the sofa within the contemporary atmosphere.
4. As minimal as they come
A minimal aesthetic is pretty easy to accomplish in theory, but in reality it makes a lot of effort to not make it seem incomplete. The casual visuals of the Le Corbusier Sofa Lc3 would be a great addition within such a look and you can use this image as an inspiration on how to do it right. The use of large accompanying furniture and flotaki rug at the base add stunning visual contrast within the whole set-up.
5. A modern ambiance
If you’d like to create a starkly modern ambiance around your Le Corbusier Sofa Lc3, then this image is an excellent example. The austere white backdrop is as modern as they come and is enhanced even more by the stunning texture of the floor. However, it’s the way the Lc3 sofas have been set up within this atmosphere that really makes an impact. Their red upholstery and chrome frame add a bold touch to the whole set-up that adds a stunning contrast to the whiteness of the background.
So, these are some of the themes that you can set up your Le Corbusier Sofa Lc3 in. Of course, there are more, but these basic ones help set the trend towards the more obscure ones.
What Is The Difference Between Rats And Mice?
When it comes to dealing with rodents in your home, there are two main types and you must first know which one you are dealing with. What may work for rats, may not be as effective for mice, so ascertaining what you are dealing with is the first step to getting rid of rodents in your home.
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There are many different types of mice that may invade your home, the average mouse has a small head and feet and a pointed snout with large ears. Mice come in array of different colours including white, brown, and grey. There are different types which you may find in your home including house mice, field mice, deer mice, or dormice. They can weigh anywhere between 0.5 ounces up to 15 grams. One way to tell if you have mice in your home is to look at the droppings, which are usually in the shape of a rod.
Image Source: Pixabay
Rats are much larger than mice and come in a variety of different colours also, including black, white, brown, and grey. Rats can weigh up to 300 grams, and like mice, there are many different varieties including the roof rat, black rat, and the Norway rat. If you find any droppings, rat droppings are in the shape of a capsule, which is one way to distinguish what type of rodent you are dealing with in your home.
Dealing With Rodents In Your Home
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Although they differ in size by quite a lot, both rats and mice can fit through small openings, which is usually how they get into your home in the first place. Both rodents have preferred foods, but at the end of the day, they will eat almost anything. They are both extremely intelligent and will sometimes avoid any traps which are set for them, which can frustrate homeowners a lot. There are various ways that you can deal with these rodents invading your home, including traps, poisons, and the electromagnetic devices that you can find on the https://gopestfree.com/ website. Traps and poisons can be harmful to both children and pets, so if you are looking to deal with rodents in your home, an electromagnetic device may be the perfect answer. These devices plug into an electrical socket in your home and use the wires running through your walls to create an electromagnetic field, which produces and non-hospitable environment for the rodents. These devices are also completely safe for both your children and pets.
How Quickly They Breed
At the first signs of rodents in your home, it is essential that you deal with the problem as quickly as you can. The average mouse can have up to 10 litters a year of up to six offspring, which means that within a year you could have a further 60 mice in your home. As well as that, mice can be ready to breed after only six weeks, which means a few mice can quickly turn into a massive problem. Rats can reproduce just as quick and can have up to six litters a year, and each litter can have up to 12 offspring. The offspring are then usually able to breed after around three months, although they do traditionally breed only in the spring.
For more information on telling the difference between rats and mice, you can look for articles and videos online.