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Reverse Mortgage Offers Fresh Approach To Income From Real Estate

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If you owe 40 percent or less of your original mortgage, there is a great program that is available to you that will generate extra monthly income. It's called a reverse mortgage. The reverse mortgage is similar to a home equity loan, only in the fact that it pays you the equity you have in your house. The differences, though, are many. If you have a large amount of equity in your home, you'll want to consider a reverse mortgage.

The reverse mortgage does exactly what the phrase says. Instead of the homeowner making monthly mortgage payments, the bank literally reverses the action and pays the homeowner. Sound too good to be true? It's not, and it's a completely legitimate program. Banks like it, because at the end of the term of the loan (usually when the homeowner dies), the bank acquires the house and may resell it.

Here's how it works. Let's say you own a home with a mortgage balance of $30,000 and it's worth $100,000. The bank will put a loan on some or all of the remaining balance, amortize it over 30 years and send you a check for this amount monthly. Sometimes, they'll use enough of the remaining equity to pay off your balance, so you owe nothing. Then, you get payments each month, and when you die, the house belongs to the bank.

This program is great for elderly people, who need to supplement their incomes. Check out seniorjobbank.org, as well as the wealth-building system, Winning the Mortgage Game to learn more about this interesting mortgage program.

Mark Barnes is an investment real estate and real estate finance expert. Get his free mortgage finance course at http://www.winningthemortgagegame.com and learn more about his wealth-building system. Mark is also the author of the new novel, The League, a shocking, sports-related conspiracy. Learn more about his suspense thriller at http://www.sportsnovels.com

Izzy's Bistro is Brigitte Krause's (Gregory's Steak and Seafood Grille) newest fine dining spot in Cape Canaveral. Her daughter Jutta is the manager and this elegant restaurant is named after her daughter, Isabella. They offer fine wines from around the world and a variety of draft beers. The menu array is unique - ranging from seafood appetizers, homemade soups, salads and entrees of delectable seafood, pasta, chicken and, of course, steak.

Gregory's Steak & Seafood Grille décor exhibits attractive looking rustic bookshelves that line the walls at the entrance, coquina walls are the cocktail bar's backdrop, and elegantly set tables and comfortable booths dressed with nice linen tablecloths and napkins finish off the dimmed Tiffany-lit dining area. Even though the atmosphere is quite elegant, the dress code is very casual and very relaxed. You're just going to love this place!

The Dove Restaurant has been in business since July of 1989 and serves only the finest in gourmet Italian cuisine. The restaurant is operated by Jean Zana who keeps a close eye on the food and service offered. Over the years, The Dove has grown from a modest start in the Parkside Plaza to an award winning restaurant. Business has steadily increased year after year as word of mouth about The Dove Restaurant has spread through town.

Coconuts On The Beach features an awesome oceanfront party deck where you can gaze at the ocean, enjoy your favorite drink and order some delicious food. COCONUTS serves everything from award-winning clam chowder to full meals including fresh Florida seafood caught by local fishermen. COCONUTS is the area's #1 place to party, meet people and be entertained by the area's best live performers.

The Surf has served astronauts since the Apollo days. It is not unusual to be having dinner and have an astronaut and their family dining at the next table.

Bacco Wine Cafe is definitely not your average "Italian" restaurant. The Barsiola's add their special touch to their wonderful cuisine. Everything is made fresh-to-order.

The Chili Pepper Supper Club was started in 2004 by world renowned chef and party expert Robert Deuterman - a Cocoa Beach resident who, as a kid, would tear up the local waves on his shortboard (boogie board). Clearly, this love for the beach ignited him to want to combine his professional expertise and local atmosphere to create the perfect environment for day and night life.