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#214597 - 01/09/11 04:14 AM Re: Another O/T question: old-growth cedar [Re: Yuccahead]
dougwalkabout Offline
Crazy Canuck
Carpal Tunnel

Registered: 02/03/07
Posts: 3225
Loc: Alberta, Canada
Originally Posted By: Yuccahead
A reverse mortgage is not a refinancing per se. A reverse mortgage makes payments to you every month and the loan balance increases with each payment. The loan is paid off when the house sells. It still may not be ideal but they were designed for seniors in exactly this position by allowing them get some liquidity from the equity in their house without having to sell it.


I was unfamiliar with that. Thanks for the explanation. I can see the value in it, as long as it's done carefully so the senior doesn't end up with the short end of the stick. Scoundrels abound, as we all know.

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#214628 - 01/09/11 05:48 PM Re: Another O/T question: old-growth cedar [Re: Susan]
Art_in_FL Offline
Pooh-Bah

Registered: 09/01/07
Posts: 2432
One thing to consider is that in a lot of settings a tree represents more money standing than cut down.

A mature and well placed tree can add many thousands of dollars to the selling price of a house.

A tree can also have a strong effect on energy use. In the summer the shade saves on air conditioning and in the winter a tree can help deflect the wind. Strategically placed a tree, more typically a line of trees, can drastically lower the amount of snow that collect on walk and driveways. This can be a substantial savings in time, effort, and expense. These savings recur every year and over the life of a tree can easily amount to hundreds of thousands of dollars.

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#214659 - 01/10/11 05:27 AM Re: Another O/T question: old-growth cedar [Re: Art_in_FL]
Susan Offline
Geezer

Registered: 01/21/04
Posts: 5163
Loc: W. WA
This particular tree has no special value to the property, which is up for sale and would most likely be totally cleared of trees to build a cluster of retirement homes or apartments.

Her home is an old mobile that has no value, and would be demolished. The land is the only value to her place. And its location.

Sue

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