Thinking of getting a reverse mortgage? Bad idea. Reverse mortgages sound like a good plan—after all, who wouldn’t want a dream retirement funded entirely by their house! But here’s the truth: Reverse mortgages are major rip-offs. And you don’t have to take our word for it, ...
Reverse mortgages are a good idea if you plan on remaining in your house long term and/or do not intend to leave it to your heirs. Also, a reverse mortgage is a good decision if you know you’ll be able to continuously meet the requirements established by the program. Leaving the home...
Reverse mortgages offer many payment plans because senior homeowners have different financial needs. No particular option is universally good or bad. For some, the ability to tap a line of credit as needed might work, while others might prefer a fixed stream of monthly income payments. Still, a...
While using a reverse mortgage can be a good idea for some older homeowners, there are risks and drawbacks that may make it unfavorable for others. Let’s take a look at the pros and cons of this retirement strategy, who is likely to benefit from a reverse mortgage, and who may be bet...
And it's true: Some form of a reverse mortgage could be a good choice for you, but it might not be the government-backed type Selleck is hawking. New options open for homeowners seeking a reverse mortgage The company completed the sale of its Financial Freedom reverse mortgage servicing busi...
In this article, we’ll explain your options when a reverse mortgage becomes due. We’ll also discuss common ways to repay a reverse mortgage early. Read on to find out what you need to know about paying back a reverse mortgage and whether or not areverse mortgage is a good ideafor ...
The Good Brigade / Getty Images What Is a Reverse Mortgage Net Principal Limit? A reverse mortgage net principal limit is the amount of money that a reverse mortgage borrower can receive from a loan once it closes after accounting for closing costs. The net principal limit can depend on ...
reverse mortgage and if it makes sense for you and your family. Reverse mortgages have changed a lot. I would be happy to talk with you to explain how they really work, and why it may be a good choice for yoShow More About Good Friend Mortgage Inc. Good Friend Mortgage is a residen...
Is a reverse mortgage a good idea? A reverse mortgage can be a life-changing decision — for better or for worse. If your cash flow has dried up and you have no other way to cover the cost of either major, one-time expenses or minor, daily expenses, a reverse mortgage is an effecti...
Is a reverse mortgage worth it? Assuming you qualify, a reverse mortgage could be a good solution if: You have a long-term need for additional income or credit, not a one-time expense you could easily pay off, and you’ve already taken advantage of benefits that are available to you, ...