If you're a homeowner who is looking to tap in to the home equity that you've spent years building you may be interested in a "reverse mortgage" or "home equity conversion mortgage". Let's take a closer look at how reverse mortgages work, including how to qualify, what happens to your existing mortgage and what a reverse mortgage might cost.
Are you a senior or retired individual older than 62 who is looking to supplement their retirement income? If so, you may have heard about a unique financial product known as a reverse mortgage. In today's blog post we will explore three myths about reverse mortgages and share why they need to be debunked. Let's get started.
Are you a retired individual looking for ways to increase your financial security? If so, you may have heard of a home equity conversion mortgage, more commonly known as a reverse mortgage. Used correctly, this is one of the most effective financial products for retirees who own their home.
Are you and your spouse starting to move into your retirement years? If so, you already know that you are going to need a solid financial plan for when your primary sources of income are no longer bringing money in. If you have invested in your retirement, you might be all set. However, what if your house makes up the majority of your net worth?
If you are approaching your golden years and seeking a bit of financial flexibility, you might want to look at a reverse mortgage. Of course, a reverse mortgage isn't without its costs. Let's explore the fees that you will encounter when you take out a reverse mortgage loan.
There are many mortgage products on the market that work for all different kinds of homebuyers, but many people have not heard about reverse mortgages and how they can benefit their situation. If you're curious about this type of mortgage and want to know more, here are some questions that will get you on the road to understanding the ins-and-outs of this product.