Posted on March 30, 2015 - 03:12 PM
by Peggy Fuenning
#Reverse #mortgage is a great product that is for people who are 62yrs or older.
It allows for the #borrower that has paid down their #home to pull equity out of it or use a line of credit against it. The advantage for the borrower is that they don’t have any mortgage payments till they die.
There is a little known option that the borrower can bring in about 45% of the new #home purchase price and can also buy with a reverse mortgage.
They again would not have any #mortgage payments until they die and they don’t have to currently income or credit qualify.
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