Sentences with phrase «get a reverse mortgage if»

That's an issue in some families, and if that's the case then perhaps tell the children you won't get a reverse mortgage if they'll chip in every month to support you.

Not exact matches

Alternative options for increasing your cash flow include getting a home equity line of credit, a home equity loan, or a reverse mortgage if you're age 62 or older.

If someone already has or plans to get a reverse mortgage, their home equity is not included as part of their wealth

If you are looking for a way to pay off your existing mortgage to free up cash, you may be eligible to get a reverse mortgage loan to leverage your home's equity and pay off your existing mortgage.2 Reverse mortgages, unlike forward mortgages, do not require monthly mortgage payments for as long as you live in the home as your primary residence, maintain it in accordance with HUD guidelines, and pay your property taxes and homeowner's insureverse mortgage loan to leverage your home's equity and pay off your existing mortgage.2 Reverse mortgages, unlike forward mortgages, do not require monthly mortgage payments for as long as you live in the home as your primary residence, maintain it in accordance with HUD guidelines, and pay your property taxes and homeowner's insuReverse mortgages, unlike forward mortgages, do not require monthly mortgage payments for as long as you live in the home as your primary residence, maintain it in accordance with HUD guidelines, and pay your property taxes and homeowner's insurance.1

The good news is, if this is the case for you, then your reverse mortgage lender can arrange to set aside some of your loan proceeds to pay these recurring expenses so you can still get the loan and meet your financial obligations.

Under the proposed changes to the HECM program, the upfront cost of getting a reverse home mortgage would be reduced if borrowers applied for the HECM Saver.

This comprehensive guide offers information about reverse mortgages, the process of getting a reverse mortgage, misconceptions about reverse mortgages, and how to determine if a reverse mortgage is right for you.

The bottom line: If you want an FHA - insured reverse mortgage it might be best to get one before October 1st, the start of the new fiscal year.

Now one might ask «Why would I get a Reverse Mortgage loan if I am just going to make payments?»

HUD Changed their rules in 2014 so that if your spouse is not 62 at the time you obtain a reverse mortgage, you can still get the loan in the name of the older spouse only.

The loan becomes due and payable as soon as the borrower moves from the home or passes away, so if you have plans to move in the next few years, you may want to also wait on getting the reverse mortgage.

Though at first this advantage may make it seem as if there is no repayment of the loan at all, the truth is that a reverse mortgage is simply another kind of home equity loan and does eventually get repaid.

Those who have been waiting to get their reverse mortgage for one reason or another may be in for a big surprise if the rates rise later this year as economists for the MBA, Fannie Mae and Freddie Mac predict (economists predict rates increase as soon as September 2015).

Firstly, If you are counting on the reverse mortgage later, the only way you will know for sure if you and the property both qualify is by applying for the loan and getting an appraisaIf you are counting on the reverse mortgage later, the only way you will know for sure if you and the property both qualify is by applying for the loan and getting an appraisaif you and the property both qualify is by applying for the loan and getting an appraisal.

This reverse mortgage solutions guide will help you get the facts you need to determine if a reverse mortgage may be able to help you achieve financial stability.

If you fall into any of the above categories or are curious about state - specific information regarding reverse mortgages and the requirements of getting approved, continue reading for more loan information.

If you were looking for $ 100,000, the reverse mortgage will not get you access to that amount of money.

If you can't understand these on your own but can get a grasp on them with the help of a trusted financial planner who doesn't stand to make money off your decision to get a reverse mortgage, then that works too.

As an example, if the lending limit is 50 percent of the home's value, in the first year of a reverse mortgage the homeowner could get 60 percent times 50 percent, or 30 percent of the home's value.

Originators have been coming up with an approach to financial planners and that's to provide them with enough evidence, not all of the information, especially since they don't have all of the answers; simply presenting them with the benefits that their clients could receive if they decided to get reverse mortgage loans.

Similarly, if you've got equity in your home, you may be able to tap it by downsizing or taking out a reverse mortgage.

If waiting eight years sounds like too long of a period to go without any supplemental income from Social Security, consider getting a reverse mortgage to lessen your financial burdens while waiting for Social Security or other assets to come to fruition.

If you are ready to find out how much money you may be able to get from a reverse mortgage and learn more about this flexible retirement planning tool, call American Advisors Group at [phone].

If the value of your house drops substantially, the reverse mortgage lender wants protection that he will get his money back.

Learn the most common pros and cons of getting a reverse mortgage and figure out if the loan is right for you.

If you don't have a mortgage, getting a reverse mortgage line of credit as an «emergency fund» is worth considering.

So if you're not concerned about leaving your home to anyone, getting a reverse mortgage might be a good way to get cash.

If you and your spouse are each at least 62, getting a reverse mortgage might be a good choice.

If you're married and your spouse isn't yet 62, getting a reverse mortgage is not ideal.

If the reverse mortgage is not large enough to cover your existing loan, you can still get the reverse mortgage by bringing in the additional funds from another account and still never have to make another house payment!

I would suggest visiting http://www.reversemortgage-facts.com one of our channel partners at, and get more information to determine if a Reverse Mortgage is right for your situation.

If you want to know how much you personally are eligible to borrow, you can get an estimate with a good reverse mortgage calculator.

WARNING: if you are getting a reverse mortgage you must do the work to determine if a reverse mortgage is «right» suitable for your unique circumstances.

If you or a family member is considering a reverse mortgage, contact GreenPath to learn the pros and cons and get all of your questions answered.

You can use a HELOC (home equity line of credit) or reverse mortgage if you want to get out of a Canadian residential property.

If you are seriously considering a reverse mortgage, call 1-888-998-3147 to speak to an American Advisors Group Reverse Mortgage Professional and to get an Informatireverse mortgage, call 1-888-998-3147 to speak to an American Advisors Group Reverse Mortgage Professional and to get an Informatmortgage, call 1-888-998-3147 to speak to an American Advisors Group Reverse Mortgage Professional and to get an InformatiReverse Mortgage Professional and to get an InformatMortgage Professional and to get an Information Kit.

If you are age 62 or older, you can get a reverse mortgage, and choose a disbursement option of line of credit, lump sum, monthly income, or a combination of any of the three.

Still, if you wanted to follow that route, it would not interfere with getting a reverse mortgage at a later date.

If you sell your old home and have the cash to purchase a new home, why would you want to get a reverse mortgage?

Fortunately, your fees are capped if you get an FHA - backed Home Equity Conversion Mortgage (HECM), which is the most common type of reverse mMortgage (HECM), which is the most common type of reverse mortgagemortgage.

If you have a traditional mortgage on your house you need to get enough from the reverse mortgage to pay it off.

If you have decided that you want to get a reverse mortgage the first step is to find a lender.

When you use the NewRetirement retirement calculator, you can see what happens if you pay off your mortgage, downsize or get a reverse mortgage.

If you are concerned about getting scammed, be sure to work with a reverse mortgage lender who is approved by the Federal Housing Administration (FHA).

If the reverse mortgage is not large enough to cover your existing loan, you can still get the reverse mortgage by bringing in the additional funds from another account and still never have to make another house payment!

The most important thing most borrowers want to know if how much money they can get with a reverse mortgage.

This reverse mortgage solutions guide will help you get the facts you need to determine if a reverse mortgage may be able to help you achieve financial stability.

• The counselor will review home repairs that may be required for your home in order for you to get a reverse mortgage, if this is applicable to you.

If you are ready to find out how much money you may be able to get from a reverse mortgage and learn more about this flexible retirement planning tool, call American Advisors Group at [phone].

The good news is, if this is the case for you, then your reverse mortgage lender can arrange to set aside some of your loan proceeds to pay these recurring expenses so you can still get the loan and meet your financial obligations.