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While a reverse mortgage isn’t right for everyone, every one should at least know the real facts to determine if a reverse mortgage is right for their situation. Don’t go the plumber for your health problems. And don’t go to the media, politicians, a real estate agent, your neighbor...
I reluctantly include this item on the list. Many experts don’t consider inheritance a reason NOT to get a reverse mortgage. This is because homeowners who obtain a growing HECM line-of-credit early in retirement are better equipped to decide how future expenses are paid – by the homeowner...
The media has focused on two primary issues – reverse mortgage costs, and widows losing their homes. Yet, when meeting with professionals who understand the strategic uses of home equity, I find that we share a different set of concerns. But let’s address the media’s concerns before we ...
"It's truly one of the thorniest issues I hear about from a growing number of attorneys," said Diane E. Thompson, a lawyer at the National Consumer Law Center. Reverse mortgage lenders say that they abide by federal rules, noting that their goal is to avert foreclosures, which can be co...
However, if they cannot afford to pay back the reverse mortgage, they most likely will have to sell the house to repay it. This could significantly reduce the money they could receive from the estate and could be a problem if they were counting on an inheritance for any reason. Reverse M...
the significance of including interactions and provide detailed observations to resolve several disputed issues and make policy recommendations, such as debt priority of mortgage and credit card, applying HECM as a personal or household decision, and the dominance of property tax over inheritance tax.do...
Having less funds available when the loan is due and payable or less of an inheritance is a negative of the reverse mortgage. But using the funds and creating the memories by spending time together or giving the gifts and seeing the difference it makes while one is still alive can be a ...
A Minnesota Reverse Mortgage Borrower Speaks Out On The Benefits With Her Reverse Mortgage Be Educated About Your Options of Care and Financing The Care Meet Our HECM Reverse Mortgage Borrowers Should you do a reverse mortgage or leave an inheritance?