quick and easy ham and bean soup recipe is ready in 15 minutes. loaded with cannellini or navy bean with tender leftover ham in every bite!
Ham and Bean Soup recipe is a fast and filling delicious weeknight dinner that smells heavenly. Perfect if you have any ham leftover from Christmas dinner!
California Reverse Mortgage Rules
A reverse mortgage offers homeowners 62 years or older a way to tap the value of their home without the burden of monthly interest payments. A homeowner taking out a reverse mortgage borrows against her home equity–the value of the home less any mortgages–and doesn’t have to pay the loan back until she moves out of the house.
Reverse Mortgage Requirements
California’s Reverse Mortgage Elder Protection Act of 2009 states that a reverse mortgage may have a fixed or adjustable rate of interest. The lender may charge fees and costs when the loan is taken out, periodically during the life of the loan, or when it matures. If the borrower receives his money in periodic payments, the lender can’t reduce the payments based on changes in the interest rate; a lender who fails to make the promised payments is liable for triple the amount of the default, plus interest. Lenders can’t penalize borrowers for paying off the loan early.
Under the California act, lenders must provide potential borrowers with a list of at least 10 federally approved nonprofit counseling agencies to consult about the risks and costs of a reverse mortgage; the counselors must not receive direct or indirect compensation from the lender or anyone else involved in originating or servicing the mortgage. The lender must provide the applicant with a checklist of issues to discuss–for example, that if a medical or family emergency forces the applicant to leave his home sooner than expected, the loan will come due immediately. Lenders can’t accept a finished application unless the borrower certifies he’s received counseling.
The act states that the lender must not make the reverse mortgage contingent on the borrower buying some other service, such as an annuity. If the lender is associated with businesses that provide annuities or insurance, the companies must have legal barriers set up to make sure that the lender has no incentive to push or recommend other financial services to the borrower. Recommending flood insurance, title insurance or hazard insurance would be an exception, since those are normal elements of a reverse-mortgage transaction.