Are you thinking of taking out a Reverse Mortgage? It works well for seniors that already own their home and need a little cash flow. Rather than keeping the equity in your home for your beneficiaries, you can enjoy the money while you are still alive. Since you don’t need to make payments on the Read more
How Much Home Equity Do You Need for a Reverse Mortgage?
A reverse mortgage can help retired or soon-to-be retired homeowners have a larger cash flow than their retirement income provides. Just how much of your home’s equity can you tap into though? We help you understand the factors below.Looking for Current Mortgage Interest Rates? Click Here. The Read more
Watch out for These Reverse Mortgage Pitfalls
When you are hard up for money, a reverse mortgage can seem like a great idea. You get to take equity out of your home and you don’t have to repay it until you move out the home (or pass away). What’s not to love?Get Matched with a Lender, Click Here.Before you jump right into the reverse Read more
How Does a Reverse Mortgage Work?
If you are over the age of 62 and have equity in your home, you may be eligible for a reverse mortgage. While it is a ‘mortgage’ since you borrow money from the bank, it’s not your traditional mortgage. In other words, you don’t make monthly payments to the bank to pay the loan down. Instead, you Read more
Senior Homeowners Gain $121 Billion in Home Equity in Q3 2017
As 2017 is drawing to a close, homeowners aged 62 and above may be able to draw more from their home equity. They were $121 billion in home equity richer during the third quarter of 2017 per Reverse Mortgage Market Index (RMMI) by the National Reverse Mortgage Lenders Association and Read more
