Learn the most important reverse mortgage tips before you apply!
Did you know that based on your age and your home equity, you can get a reverse mortgage that pays YOU every month?
A reverse mortgage is a type of loan that allows homeowners ages 62 and older, typically who’ve paid off their mortgage, to borrow part of their home’s equity as tax-free income. Here are 5 reverse mortgage tips to consider.
Reverse Mortgage Must-Know Info A reverse mortgage was originally designed so that seniors who own their homes or have considerable equity in their homes can free up cash for living expenses without selling their homes. To qualify for a reverse mortgage, you must: Occupy the home as a principal residence for more than six months […]
In 2013, a federal court has ruled in the past that a surviving spouse can’t be evicted from the home when there’s a reverse mortgage in place. Let’s look at a realistic case scenario where this would be vital to know.