I’ve written, or been quoted in, numerous articles about reverse mortgages, which have
appeared in national publications. I hope you find the information in them beneficial.
With Health Concerns, is a Reverse Mortgage Loan a Good Idea?
The cost for medical treatment continues to rise, especially during the decades of retirement.
A 65-year-old couple retiring in 2016 can expect to need approximately $260,000 to cover health care costs in their nonworking years, according to Fidelity, a financial services company.
If you currently live in your own home and are at least 62 years old, a reverse mortgage loan provides an option to cover ongoing expenses, including medical fees.
Read more: http://www.bankrate.com/finance/mortgages/reverse-mortgage-loan-health-concerns-1.aspx
5 Myths About Reverse Mortgages
When seniors need to free up cash, they often look to their retirement plans. Many don’t even consider tapping into the value of their homes – a feat easily achieved through the use of a reverse mortgage.
A reverse mortgage is a loan that allows homeowners aged 62 and older to convert part of the equity in their homes into cash. But it’s not an incredibly common type of loan, making it easy for misinformation and myths to spread.
Here are a few of the most common myths about reverse mortgages.
Read more: https://www.lendingtree.com/reverse-mortgage/myths-about-reverse-mortgages-article
Reverse Mortgage or Downsize My Home?
For seniors who are house-rich but cash-poor, finding a way to make ends meet can be difficult. There’s not much more frustrating than having significant equity – but no foreseeable way to tap into it.
Thankfully, seniors in this situation have a couple viable options to free up some of that value. Typically, they should look to either downsize their home or enter into a reverse mortgage. A reverse mortgage is a type of home loan for older homeowners (62 years or older) that allows them to convert part of the equity in their homes into cash.
But which option is better? Does it depend on the individual situation of the senior in question? Read on to find out which route is best for you or your loved ones.
Read More: https://www.lendingtree.com/reverse-mortgage/reverse-mortgage-or-downsize-my-home
Can I Get a Reverse Mortgage If I’m In Foreclosure?
If you’re in foreclosure, you might still be able to get a reverse mortgage. If you qualify we don’t just pay off your mortgage. We’ll also set up an escrow account to pay your property taxes and homeowners insurance for your entire lifetime expectancy. See if you can qualify below…
Read More: http://www.reversemortgagereality.com/can-i-get-a-reverse-mortgage-if/
How to Apply for a Reverse Mortgage?
Applying for a reverse mortgage is normally a quick and easy task; in fact the majority of reverse mortgages go from counseling to completion in 20-45 days. Here’s exactly how the reverse mortgage process works…
Read More: http://www.reversemortgagereality.com/how-to-apply-for-a-reverse-mortgage/