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Brenden Van
Joined: 18 May 2009
Posts: 3
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| Posted: Mon May 18, 2009 11:32 am Post subject: Reverse mortgage |
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Reverse mortgage is a funding option that gives senior citizens a payout now without a mortgage payment
Reverse cashes out home value now; leaves repayment to estate, or by sale of home after death of lender
Good; instant cash with no repayment worry
Bad; estate loses house as an asset or has to repay mortgage. |
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Josh Harmatz
Joined: 08 Sep 2009
Posts: 18
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| Posted: Fri Sep 11, 2009 9:31 pm Post subject: |
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| Reverse mortgages are good loans for people that qualify. |
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nmichalka
Joined: 24 Apr 2011
Posts: 8
Location: US
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| Posted: Sun Apr 24, 2011 2:27 pm Post subject: |
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| Its really good for persons with 63+ age limit. I have read an article in that says there are some problems while doing reverse mortgage. We a person won't visit the house for more that 364 days then that person can't stay in that house. |
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