Guide (Page 12)
Who Could Benefit From A Reverse Mortgage?
What is a "Reverse Mortgage?" Also known as a Home Equity Conversion Mortgage (HECM)a reverse mortgage,is a popular way older homeowners (62+) can convert part of the equity in their homes into tax-free income without having to sell the home, give up title, or take on a new monthly mortgage payments. Before explaining a reverse mortgage, let's review the features of a Standard Mortgage: With a... ❯❯❯
Home Equity Loan Considerations
In other words, the benefit of the loan must outlast the loan period. Taking a loan for financing that elusive vacation is a strict no-no. Moreover, home equity loans must also never be taken for day-to-day expenditures. This option should be saved for emergency needs only. When applying for a home loan, all credentials of the lender must be keenly checked. The local consumer protection agency... ❯❯❯
