When is a Reverse Mortgage a Good Idea? – Five Cent Nickel – I am a HUD-certified reverse mortgage counselor. I really enjoyed reading this article. I get tired of reading negative articles about reverse mortgages. I’m not going to say that everyone should get a reverse mortgage, it’s not for everybody, but it is nice to hear someone talk about the good points of a reverse mortgage.
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Forbes: Good Reasons for Taking Early Social Security Benefits Are Few – “There are really only a few good financial reasons to start Social Security retirement benefits at age 62, the earliest.
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Is a reverse mortgage good for elderly homeowners? – A reverse mortgage is an increasingly popular option for older Americans to convert home equity into cash. Money can then be used to cover home repairs, everyday living expenses, and medical bills..
A reverse mortgage is a type of mortgage loan that’s secured against a residential property, that can give retirees added income, by giving them access to the unencumbered value of their.
The Pros and Cons of a Reverse Mortgage – dummies – A reverse mortgage can be a valuable retirement planning tool that can greatly increase retirees income streams by using their largest assets: their homes. A reverse mortgage allows homeowners to borrow against their home’s equity, while still maintaining ownership of the home.
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Reverse Mortgages | Consumer Information – Most reverse mortgages have variable rates, which are tied to a financial index and change with the market. Variable rate loans tend to give you more options on how you get your money through the reverse mortgage. Some reverse mortgages – mostly HECMs – offer fixed rates, but they tend to require you to take your loan as a lump sum at closing.
4 times a Reverse Mortgages makes for a bad idea: #1 – You intend to move closer to family a few years down the road. If you have any desire to move in the near term, whether it be closer to family or to a residence that is better equipped for aging, taking out a reverse mortgage today may not be the best idea.
Low mortgage rates bring surge in refinancing, prepayments – As the Federal Reserve moves closer to easing monetary policy, there’s no immediate sign that the near-record low rates will.
Honestly, is a Reverse Mortgage a Good Deal? – The reverse mortgage CAN be a REALLY good deal. But it will require the assistance of an informed reverse mortgage professional and ideally, a good Financial Advisor. I am helping to spearhead an effort to educate the industry and the public on a better understanding of reverse mortgages.