Reach out to a reverse mortgage professional at American Advisors Group, and take advantage of the free personal consultation they offer. You can then examine your specific situation, identify the right reverse mortgage questions and answers, and determine if a reverse mortgage is truly right for you.
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Overall, a reverse mortgage can be a great way f you have any questions about whether or not a reverse mortgage is a good choice for you, it’s in your best interest to speak with a financial advisor.
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“The best choice depends on how the reverse mortgage is used.” For instance, an earlier extraction of funds may lend itself to an arrangement with higher upfront fees that come with a lower margin.
A reverse mortgage is a loan program designed to enable homeowners 62 years and older to convert part of the equity in their homes into tax-free cash flow* without having to sell the home, give up title, or take on a new monthly mortgage payment.
Those considering a reverse mortgage should work with reverse mortgage lenders who are experienced in the field and who are willing to explain other options if they feel a reverse mortgage is not right for you. Good lenders will answer questions about potential drawbacks of reverse mortgages in a candid manner.
Is a Reverse Mortgage Right for You? Select rating Give it 1/5 Give it 2/5 Give it 3/5 Give it 4/5 Give it 5/5 When you own a home and need additional cash flow, a reverse mortgage is one way to get it.
Instead of paying typical mortgage payments, a HECM for Purchase requires you to pay a down payment – this cost is calculated as the difference between the available reverse mortgage loan proceeds and the purchase price of the new home.
W. hether you want to sell your home and move to a community or keep it in the family, Elderlife’s Real Estate Team can help you understand your options and learn how to best use the equity in your home.. Get help paying for care, funding repairs, and even using the home as a long-term investment. And of course, the Real Estate team is committed to understanding your needs and helping you.