Truth or Fiction
About Your Family
Truth or Fiction
Understanding what is true or what is fiction regarding reverse mortgage will give you the insight as how powerful it is and how it works.
How Does It Work
About Your Family
Truth or Fiction
Think of a reverse mortgage like a backwards traditional loan. No loan payment required = must live in the home. No payments = Balance Increase. *Must Maintain Home Responsibilities
About Your Family
About Your Family
Do I Still Own My Home?
Heirs have options regarding the home like: sell the home, Keep the Home or the can just walk away. The Lender will NOT just take the home.
Do I Still Own My Home?
Do I Have To Make Loan Payments?
Do I Still Own My Home?
Yes you still own your home. Title ownership stays in your name, you just refinance. It's just a type of loan type only senior's could qualify for.
Do I Have To Make Loan Payments?
Do I Have To Make Loan Payments?
Do I Have To Make Loan Payments?
Many reverse mortgages your not required to make loan payment but you must keep your responsibilities like property taxes, Homeowners Insurance, HOA Dues & Basic Maintenance
How Much Money Can I Get?
Do I Have To Make Loan Payments?
Do I Have To Make Loan Payments?
Now this really depends of some factors like: Age (older usually = more available), Home Value (higher value can increase availability), Interest Rate (rates affect how much you qualify for.