Reverse Mortgage Advantage: The Tax-Free, House Rich Way to Retire Wealthy!Ken Austin
A reverse mortgage calculator can help you better understand how much you could borrow. You'll need to input details like your home's value, expected interest rate and the years you plan to live there. After you input this information, you'll be given an estimated loan amount and interest...
Is a reverse mortgage right for you? For many homeowners, a reverse mortgage makes it possible to stay in their homes as they age while receiving tax-free income. Many use the funds to supplement Social Security, cover medical expenses, pay for in-home care or make home improvements or mod...
as it is completely asset backed, with a guaranteed payout. In the US, the funds derived from a reverse mortgage are not considered income for tax purposes. However, the interest costs from the mortgage payment cannot be deducted until the house is sold, which is the point when the actual...
Literally anything would be better than taking out a reverse mortgage. (Okay, maybe not robbing a bank or committing tax fraud.) But seriously, if you’re strapped for cash, there are better options than these horrible programs. First, you can get a job if you need money and you’re ...
A reverse mortgage gives you access to the equity in your home, much like a traditional mortgage refinance. The downside is that you’ll have less equity in the future if you need it for other purposes. For example, let’s say that you decide to move to a different home later. The re...
Generally speaking, there are three criteria to meet for benefitting from a reverse mortgage: You intend to stay put and can afford the taxes and upkeep on your current home.1 You’re married and your spouse is also age 62 or older. If that’s the case, then you can put both your ...
A reverse mortgage is a loan that exchanges home equity for cash. Using a reverse mortgage, a homeowner borrows money based on the amount of equity they currently have and pays that amount back once the home is eventually sold. It’s called a “reverse” mortgage because it eats into you...
In a single-use reverse mortgage, borrowers must use these payments for a specific purpose that the lender approves. A single-use reverse mortgage can help pay property taxes, maintenance and upkeep of the home, home insurance premiums, or common payments that fall within the lender’s interest...
Attain financial security by using the equity in your home as a way to retire with ease. We can explain if a reverse mortgage is the right decision for you.