Posts Tagged ‘reverse mortgage information’
Reverse Mortgage Facts
Wednesday, November 26th, 2008by Byron Warnken
Many people believe that a reverse mortgage is a good way to obtain cash if you have your home paid off.This is absolutely true. However, a reverse mortgage is also an excellent way to pay off your existing mortgage. A reverse mortgage has the power to not only provide cash for uses such as home improvements, vacations, healthcare, taxes, and gifts, but it can, in fact, save you thousands of dollars a month by eliminating your current mortgage payments.
by Byron Warnken
Many people believe that a reverse mortgage is a good way to obtain cash if you have your home paid off.This is absolutely true. However, a reverse mortgage is also an excellent way to pay off your existing mortgage. A reverse mortgage has the power to not only provide cash for uses such as home improvements, vacations, healthcare, taxes, and gifts, but it can, in fact, save you thousands of dollars a month by eliminating your current mortgage payments.
by Byron Warnken
Many people believe that a reverse mortgage is a good way to obtain cash if you have your home paid off.This is absolutely true. However, a reverse mortgage is also an excellent way to pay off your existing mortgage. A reverse mortgage has the power to not only provide cash for uses such as home improvements, vacations, healthcare, taxes, and gifts, but it can, in fact, save you thousands of dollars a month by eliminating your current mortgage payments.
What if one spouse is under 62?
Wednesday, November 26th, 2008The short answer is that this means a reverse mortgage is not available on the property. Both husband and wife must be 62 or over. This is only true, of course, if the property is titled in both names, typically called a joint tenancy when between a husband and wife.
The short answer is that this means a reverse mortgage is not available on the property. Both husband and wife must be 62 or over. This is only true, of course, if the property is titled in both names, typically called a joint tenancy when between a husband and wife.
The short answer is that this means a reverse mortgage is not available on the property. Both husband and wife must be 62 or over. This is only true, of course, if the property is titled in both names, typically called a joint tenancy when between a husband and wife.
Not Enough Equity For a Reverse Mortgage?
Wednesday, November 26th, 2008Qualifying for a reverse mortgage is based on a number of factors. These factors include age, home value, amount owed on your home, and where you live. Ultimately, a reverse mortgage allows you to access equity in your home. If the equity is not there, a reverse mortgage is often not going to be an option.
Qualifying for a reverse mortgage is based on a number of factors. These factors include age, home value, amount owed on your home, and where you live. Ultimately, a reverse mortgage allows you to access equity in your home. If the equity is not there, a reverse mortgage is often not going to be an option.
Qualifying for a reverse mortgage is based on a number of factors. These factors include age, home value, amount owed on your home, and where you live. Ultimately, a reverse mortgage allows you to access equity in your home. If the equity is not there, a reverse mortgage is often not going to be an option.
What is a Reverse Mortgage?
Wednesday, November 26th, 2008First, what a reverse mortgage is NOT
- A reverse mortgage is not “a way for the bank to get your house”
- It is not a traditional home equity loan
- It is not based on income or credit levels
- It is not available to homeowners under the age of 62
- It is not free money
- It is not a cure-all
- It is not a decision to be taken lightly
First, what a reverse mortgage is NOT
- A reverse mortgage is not “a way for the bank to get your house”
- It is not a traditional home equity loan
- It is not based on income or credit levels
- It is not available to homeowners under the age of 62
- It is not free money
- It is not a cure-all
- It is not a decision to be taken lightly
First, what a reverse mortgage is NOT
- A reverse mortgage is not “a way for the bank to get your house”
- It is not a traditional home equity loan
- It is not based on income or credit levels
- It is not available to homeowners under the age of 62
- It is not free money
- It is not a cure-all
- It is not a decision to be taken lightly
The Ins and Outs of Reverse Mortgages
Friday, November 7th, 2008By Jeffrey D. Voudrie, CFP
Reverse mortgages have been around since 1989, but they are rapidly gaining in popularity. The complexity of reverse mortgages makes it difficult for the average senior to separate myth from reality. Let me help you decide if one is right for you.
By Jeffrey D. Voudrie, CFP
Reverse mortgages have been around since 1989, but they are rapidly gaining in popularity. The complexity of reverse mortgages makes it difficult for the average senior to separate myth from reality. Let me help you decide if one is right for you.
By Jeffrey D. Voudrie, CFP
Reverse mortgages have been around since 1989, but they are rapidly gaining in popularity. The complexity of reverse mortgages makes it difficult for the average senior to separate myth from reality. Let me help you decide if one is right for you.
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