Christine Reilly
ERA Key Realty Services | 508-615-1526 | [email protected]


Posted by Christine Reilly on 5/14/2019

You got a reverse mortgage on your home to help with your retirement, but now, you want to move out. Maybe its because your kids want the house, or it just doesn't work for you anymore due to the climate or just how far away your family lives. Makes sense, when you were younger your life changed all the time, that doesn’t stop after retirement. So, are you stuck? Or can you sell it?

First, what is a Reverse Mortgage? 

A "reverse mortgage" is a special form of home financing that pays out based on the equity of your home. While you continue living in the home, the loan pays either a single lump sum, as a line of credit, monthly payments, or in some combination thereof to help cover the cost of your retirement. In the United States, the home must be the primary residence, and the homeowner must be over the age of 62 to qualify. While originally started to allow seniors to keep a more stable income, the IRS doesn't see it that way and instead looks at the income as a "loan advance" and taxes it accordingly.

Paying off Your Reverse Mortgage

Typically, the point of a reverse mortgage is for the income. That means you defer payment of the loan until you die, though it comes due when you sell the home or if you live elsewhere for a whole year. That means it usually falls to your heirs to handle it. They can pay it off, refinance it or sell the home. As a last resort, they can give up the property to the lender in place of repayment, but they give up all the rights of ownership to the property. Its possible to get a Home Equity Conversion Mortgage (HECM) from the FHA restricted to the value of your home. This type of loan protects your heirs since the mortgage can't be more than the value of the house, which means all they have to do is hand over the property and they are free and clear.

Selling Your Home Under the Reverse Mortgage

Selling your reverse mortgaged home can be complicated. Your reverse mortgage compounds interest over its whole life on both the owed interested and the borrowed amount. That means the mortgage could be substantially higher than the original borrowed amount. If you want to sell the home, no matter if its family or open market, first start by figuring out just how much remains on the mortgage. Include the whole borrowed amount, owed interest, compounded interest and any fees your lender may charge. Double check that number by requesting a payoff amount from the lender. They will send you an estimated payoff amount based on your current status and will only apply for a specific date range. Keep in mind that regardless if you sell the home for the original amount, if it takes longer than you originally planned, those numbers could go up.

Want to know if your home is a good candidate for a reverse mortgage sale? Refer to your local real estate agent to find out if the market value of your home is high enough to make it a good idea.





Posted by Christine Reilly on 5/11/2019


0000 Brookline Street, Worcester, MA 01603

Land

$45,000
Price

0.24
Acres
Residential
Land Type
Build your dream house in the City that you Love! Rare single family building lot approx 10.394 sq. ft. available now in this established neighborhood. Great location close to schools, shopping, and beautiful views of the city. Main St to Gates Ln to Tallawanda to Brookline. Lot is behind 47 Gates Lane with frontage on Brookline. Buy Now, Build Now!
Open House
No scheduled Open Houses

Similar Properties





Tags: Worcester   Real Estate   01603   Land  
Categories: Price Change  


Posted by Christine Reilly on 5/7/2019

Technologies for home theater audio are rapidly changing. At one time if you wanted a good listening experience in your living room you have to spend hundreds on surround sound speakers, subwoofers, and receivers. Then, you had to run wires throughout the room and try programming your remote to make it all work.

While surround sound speakers are still a good option, there are other ways to experience quality audio in your home. In this article, we’re giving you a guide to choosing a home audio system that fits your needs and, more importantly, your budget.

Sound bars 

The latest addition to home theater audio is the sound bar. These are slim, sleek speakers that usually come with a small subwoofer.

Sound bars come in several varieties. Some are plug-and-play, meaning you don’t need to worry about purchasing amplifiers or devices, you just plug them into your television via an HDMI cable or connect to your TV through Bluetooth and you’re done.

Other sound bars are more like bases that your TV sits on top of. Sound bases aren’t as popular as they once were, so there are limited options. Furthermore, they typically don’t include a separate subwoofer so they can lack deep bass.

The other benefit of sound bars is just how simple they are to use. Even the cheapest sound bars often come with Bluetooth, so you only have to worry about one outlet spot for the power cord.

For most homeowners who want sound quality far better than their television’s internal speakers can provide, sound bars are an easy way to vastly improve your audio experience without breaking your wallet.

Before buying a sound bar, try them out at a local electronics store to gauge what quality you need. You also might want to measure your television to find one that matches its width.

Surround sound

The classic home theater experience is a bit more complicated. However, you can often buy a “home theater in a box” which includes everything you need for an audio system.

Most commonly, you’ll find 5.1-channel surround sound. This means there are five speakers and one subwoofer included in the box. These systems have one central speaker, two speakers that are placed to the left and right side of the television, and two rear speakers. However, you can also find 7.1-channel systems which include two extra speakers.

Many “home theater in a box” packages include an audio receiver. However, if you already have one, your money will be better spent on buying a higher quality speaker system than replacing your receiver.

The downfall of buying a speaker/receiver package is that their quality is often only marginally better than a (much simpler and easier to set up) sound bar. To get the optimal experience out of a surround sound system, you’ll need to spend more and do your research.

So, if you have a high budget and want a dynamic, high-quality surround sound system, your best bet is to buy a quality receiver (usually somewhere in the $600 range) and then spend the bulk of your budget on speakers.




Categories: Uncategorized  


Posted by Christine Reilly on 5/1/2019

This Single-Family in Rutland, MA recently sold for $330,000. This Colonial style home was sold by Christine Reilly - ERA Key Realty Services.


43 Central Tree Road, Rutland, MA 01543

Single-Family

$325,000
Price
$330,000
Sale Price

6
Rooms
3
Beds
2/1
Full/Half Baths
Your Dream Home is for Sale! Beautiful young Colonial located in a private setting yet minutes to Holden & Worcester is packed with popular features like a large Eat-In Kitchen with tons of cabinet space and stainless steel appliances, first floor 1/2 bath with Laundry, spacious family room and dining room or office just off of the kitchen.The Second Story features a comfy Master Suite with walk-in closet and private full bath. Two large bedrooms and a second full bath complete this level with stunning views of Mount Wachusett. Plenty of space for large or growing family. The back yard offers plenty of room for endless outdoor enjoyment and adventures, deck off of the kitchen, Farmer's porch in front, two car garage, and plenty of extra parking for all your family and friends. All appliances, window blinds, and kitchen island are included! Town Water and Sewer is the icing on the cake!! MULTIPLE OFFERS RECEIVED. HIGHEST AND BEST DUE BY TUESDAY 03/05/19 5:00PM.

Similar Properties





Categories: Sold Homes  


Posted by Christine Reilly on 4/30/2019

Having a bird in your home is almost similar to having a toddler around – they love to check new things out by putting them in their mouths. Birds are also very social creatures that seem to enjoy sharing meal times with their companions, wither other birds or human owners. And while you may not necessarily have what you consider to be poisonous around you, some common foods that are safe for you may be toxic for your winged pets.

  1. Apple Seeds - Seeds from apples, cherries, peaches, and pears contain elements of cyanide in them which may be harmful to the human digestive system but are very toxic for birds. This residue is in addition to any pesticides that may be present on the fruit's skin. Always make sure you wash any fruits you want to feed them with while keeping them away from the seeds.
  2. Alcohol - No responsible bird owner would ever attempt to give their birds alcohol. However, birds have been known to take a sip from unattended alcohol drinks. Alcohol intake is fatal for birds as it can cause a loss of functions in their organs.
  3. Chocolate - Chocolate causes vomiting and diarrhea in birds, as it reacts terribly with their digestive system, leading to seizures of the central nervous system that may often result in death. Always make sure to keep your birds in their cages when opened chocolate bars are available in your home.
  4. Avocado - The leaves of avocados contain a fatty substance that is very toxic for birds, and when ingested in significant measures, causes heart failure and respiratory damage. However, it is not entirely possible to know what amount is safe enough for consumption and so makes sense that avocados and foods that contain avocados be off-limits for your birds.
  5. Salt - Salt should be kept far from the reach of your birds as much as possible because it can significantly upset the electrolytes balance in their system and lead to dehydration, excessive thirst, kidney damage and ultimately death. Always avoid feeding your birds chips or pretzels that contain salt and opt for unsalted foods instead.
  6. Onions and Garlic - While these vegetables may be healthy for humans like you, they are toxic for many animals including birds. Onions and garlic contain deadly compounds that can cause inflammations of the lining of the mouth and esophagus of a bird causing ulcers.

If it's possible your bird may have ingested a substance that may be poisonous for them, then you should seek out a vet as soon as possible.




Tags: pets   bird feeding   food  
Categories: Uncategorized  




Tags