How are you going to pay off your Montana Mortgage?

Keep making payments until you’re old and broke.

Or worse yet, keep making payments when you are old and broke. Sounds like a gas, right? It’s not. It’s tough business. As we get older and the fixed income kicks in, it gets tough to continue to make the payments on the home. But it’s either make the payments, move out, or get creative. This brings up another point – who are we paying off the house for? The estate? Sure, the kids, grandkids, etc. would love a little something, but do they really want to see your quality of life decline so that they can get – and maybe pay tax on – your house. No.

Downsize

It might be right for some, but if you’re anything like me, you like your house. You want to stay there. Let’s move on.

Keep cashing out

Make some payments. Refinance or take a home equity loan. Make some more payments. Refi again, or take another loan. Make some more payments … You get the picture. It is a nasty cycle that is perpetuated by the lenders. What’s more – it is expensive.

How about a reverse mortgage?

Click: Montana Reverse Mortgage to learn about reverse mortgages and speak with a respected, trusted Montana reverse mortgage lender.