Sentences with phrase «get a reverse mortgage later»
Of course, you could always purchase the home with cash and get a reverse mortgage later, but it can be convenient to do both at the same time.
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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 appraisal.
Still, if you wanted to follow that route, it would not interfere with getting a reverse mortgage at a later date.
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The sector got another boost six years later when Fannie Mae launched its own reverse mortgage product, the Home Keeper.