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"The month of August had turned into a griddle where the days just lay there and sizzled." ~Sue Monk Kidd

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Today's Community Review:

August 1, 2020

The Cloister at St. Henry

Nashville, Tennessee

Nashville is in north central Tennessee and is the site of The Cloister at St. Henry, an established 55+ community with single level duplexes, a small clubhouse, a heated swimming pool, neighborhood events and more.

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Previous Daily Reviews (More Below):

Tara Woods, North Fort Myers, Florida

North Fort Myers is on the southwestern Florida coast and is the location of Tara Woods, a gated 55+ community with three lakes, two heated swimming pools, tennis courts, a putting green, RV storage and good-looking manufactured homes, many with designer features.

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Best Mortgage Lenders

Homeowners approaching retirement often have enough equity to sell their current home and buy a less expensive one outright. Some people, though, want to keep the cash from their home sale and finance a new home, while others might need a small or short-term mortgage to cover the gap between their available cash and a home's purchase price. If you do need a mortgage, it is important to choose the right one. Here are three of the best lenders.

Better Mortgage - According to Nerd Wallet, this mortgage company charges no commission fees and has no application, underwriting or origination fees. They also close most loans within 21 days, two times faster than the national average.

Quicken Loans - This mortgage company has a five star rating in the 2019 J.D. Power U.S. Primary Mortgage Origination Satisfaction Study and an A+ rating with the BBB. Quicken Loans has processed more than two million mortgages.

Vylla Loan - This mortgage lender has multiple loan programs for people with less than steller credit and considers alternative credit data, such as bank statements and rent payments.

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Encore at Briar Chapel, Chapel Hill, North Carolina

Lovely Chapel Hill is in central North Carolina and is the site of Briar Chapel, a "green," master planned community with Encore, a 55+ neighborhood, plus 900 acres of open space, miles of trails, a community garden, a dog park and more.

Sunland Springs Village, Mesa, Arizona

Outside of Phoenix in sunny southern Arizona, Mesa is the setting for Sunland Springs Village, a large 55+ community with single family homes, town homes, condos, 27 holes of golf, a recreation center, a pet park, RV storage and more.

Clearwater Point, Clearwater, Florida

Clearwater is on Florida's mid-Gulf Coast and is the site of Clearwater Point, a partly 55+ condominium community nearly surrounded by the Intracoastal Waterway and the Gulf of Mexico. Amenities include swimming pools, tennis courts, a hot tub and a private beach.

Gainsborough, Eugene, Oregon

Eugene, leafy and green, is in west central Oregon and is the location of Gainsborough, a cozy, gated 55+ manufactured home community with a creek, waterfalls, a clubhouse and friendly neighbors.

Diamondhead Resort, Hot Springs, Arkansas

In lush central Arkansas, Hot Springs is the setting for Diamondhead Resort, a lakeside community popular with empty nesters and baby boomers. Amenities include a golf course, tennis courts, a marina and more. Home prices span a wide range.

Barefoot Resort and Golf, North Myrtle Beach, South Carolina

On the northern South Carolina coast, North Myrtle Beach is the setting for Barefoot Resort and Golf, a large, lush community with single family homes, town homes and condominiums, four championship golf courses, a marina, three miles of waterways, a beach cabana, a next-door shopping venue and more. Many homeowners are baby boomers.

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Communities by State

Alabama   Arizona   California   Colorado   Florida   Georgia   Nevada   North Carolina   Oregon   South Carolina   Tennessee   Texas   Virginia   Washington  

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How to Qualify for a Reverse Mortgage

All borrowers must be at least 62 years old. The older you are, the more funds you can receive from a reverse mortgage.

You must live in your home as your primary residence for the length of the reverse mortgage. You must own your home outright or have at least 50% equity.

You must meet with a HUD-approved reverse mortgage counselor prior to applying for a reverse mortgage to learn exactly how a reverse mortgage works and how much it costs (fees, etc.). The counseling session is to ensure that the borrow completely understands how a reverse mortgage works.

Single family homes, manufactured homes built after 1976, condominiums that are FHA-approved and town homes are all eligible for a reverse mortgage.

You must show the financial ability to meet your loan obligations, including paying property taxes, insurance and HOA fees if applicable. You must also maintain the home.

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