Facility size and type 5. Age of residents 6. No one type of housing is recommended more than another. There are increases in home services as well as new options that allow you to choose. Some housing concepts are fairly new and are not available in every community If you own your home, you have equity.
Payments are usually the lowest.
Term - monthly income for a fixed period as mutually agreed upon by mortgagee and mortgagor. Line of Credit - mortgagor can make draws up to a maximum amount at times and in amounts of the mortgagor's choosing. While you may choose to sell your property at any time, you cannot be forced to sell your home to pay off the mortgage as long as you live there. In order to find out if you qualify, you must go to an approved HUD counseling agency. A comprehensive profile on senior housing providing information on subsidized, physically challenged, and private pay facilities in PSA 5.