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3 years ago

How old do you have to be to get a reverse mortgage

Business

1 answer:

Murljashka [212]3 years ago

6 0

Answer: Minimum 62 years

Explanation: As per the rules, the youngest borrower must have attained the age of 62 years to qualify for reverse mortgage loan. There are several other requirements as well.

HUD financial criteria also needs to be fulfilled by the borrower. The home in which borrowers be living must be their prime residence and the required home equity will also be required.

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At the time of Carol's 10 year high school reunion she was making $30,000 and the CPI was 90. Now that is is time for her to att

Klio2033 [76]

No, Carol's real income fell during that 10-year period.

[(30,000 ÷ 90 × 100) is > (65,000 ÷ 200 × 100)].

<h3><u>How Does the Consumer Price Index (CPI) Work?</u></h3>

The change in prices that American consumers pay each month is tracked by the Consumer Price Index (CPI). The CPI is calculated by the Bureau of Labor Statistics (BLS) as a weighted average of prices for a selection of goods and services that are indicative of overall consumer spending in the United States.

A common indicator of inflation and deflation is the CPI. The CPI report employs a different survey methodology, price sample, and index weights than the producer price index (PPI), which gauges changes in the prices paid by American producers of products and services.

<u>What Purposes Does the CPI Serve?</u>

Policymakers and the financial markets carefully monitor the CPI Index as an indicator of inflation. The cost of living adjustments for federal benefit payments is computed using a linked CPI metric.

<u>How is the CPI determined?</u>

When calculating the CPI, the Bureau of Labor Statistics takes a monthly sample of 94,000 prices and weights each index according to its share of recent consumer spending to determine the total change in prices. In the computation, the substitution impact is also taken into account, which occurs when customers divert their spending away from goods whose prices are rising relative to other goods.

Learn more about CPI with the help of the given link:

brainly.com/question/26682248

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8 0

1 year ago

How do price ceilings and price floors restrict the free exchange of prices?

Yuki888 [10]

Price ceilings are the limit of the prices to go high above the given ceiling while the price floor limit the prices to go below the given amount. The two restrict the free exchange of prices by putting a range of prices allowable only for a certain product. The prices are already limited between the price floor and the price ceiling.

8 0

3 years ago

Economists distinguish among the immediate market period, the short run, and the long run by noting that

Greeley [361]

Based on the principle of economics, the correct answer goes thus:

Economists distinguish among the immediate market period, the short run, and the long run by noting that:

Elasticity of supply will increase when the number of producers selling a product decreases.

<h3>Immediate market run</h3>

Economists distinguish among the immediate market period, the short run, and the long run by noting that there will be increase in elasticity of supply.

In conclusion, we can conclude that the correct answer is the increase in elasticity of supply.

Learn more about elasticity of supply here: brainly.com/question/4467460

6 0

2 years ago

some countries' governments do not put any limits on the purchase of foreign currency for residents and nonresidents. these coun

max2010maxim [7]

Some countries' governments do not put any limits on the purchase of foreign currency for residents and nonresidents. these countries have a freely convertible currency.

Currency is the unit of price of money that is agreed upon by the government and its people in a country. A country has its own currency, although there are several countries that have the same type of currency. For example, in Indonesia, the currency is Rupiah, while in Japan the currency is Yen. Meanwhile, countries that use the same currency include America, Ecuador, Cambodia, Panama, and the British Indian Ocean Region.

In addition, currency can also be defined as a medium of exchange for goods and services. The party or institution that has the absolute right to issue currency is the government and its central bank.

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4 0

1 year ago

For greater holding power crossing the securement straps is acceptable?

Drupady [299]

Yes it is acceptable

4 0

3 years ago