Reverse Mortgage Guide

When we think about home loans we’re usually talking about “forward” mortgages, loans where you get cash up front and then pay off the loan over a set term.

But what if you don’t want a forward mortgage? Suppose you’re age 62 or above and have no desire to pay $2,000 a month, or whatever, for principal and interest?

A reverse mortgage is a great way to improve retirement cashflow. Yes, there’s the pesky debt that it will create, but you want to live for today and, besides, think how retirement finances would be bettered if you had a property that was payment free.

A reverse mortgage is not for everyone and it pays to let lenders compete for your business, but in some circumstances it can represent a serious lifestyle improvement.

This entry was posted on Monday, August 20th, 2007 at 7:55 pm and is filed under Reverse Mortgage . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.