Sentences with phrase «getting a reverse mortgage at»

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

When you own a home you can enjoy the value of your investment without selling it, by either continuing to live in it after you've paid off the mortgage (at which point you have no more mortgage payments), and optionally getting a reverse mortgage at any time after age 62, which allows you to extract cash value from your home in either a lump - sum or as monthly payments, and which you won't have to pay back as long as you live in the home.

Not exact matches

We still owe mortgage payments on our home to the tune of $ 13,500 a year, but by getting a reverse mortgage that $ 13.5 k will go away, and we'll have a $ 105,000 credit line making a bit over 5 % interest per year (which we don't need at this time, so it will accumulate at compound interest).

«For many clients, the problem is simply that they are house - rich and cash - poor,» notes Michael Kitces, director of research at Pinnacle Advisory Group in Columbia, Md. «So the choice is sell your house, move, leave your friends and give up your lifestyle — or get a reverse mortgage.»

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.

Getting a reverse mortgage with the potential to increase cash flow could be a viable alternative to selling at a loss.

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.

Under the Department of Housing and Urban Development's HECM program (Home Equity Conversion Mortgage)-- which is the program used most often by reverse mortgage lenders — a 65 - year - old who owns a house worth $ 250,000 with no outstanding mortgage might be able to borrow as much as $ 127,000, according to the Boston College Center For Retirement Research, although fees and other restrictions may reduce the amount of cash you can actually get your hands on at least inMortgage)-- which is the program used most often by reverse mortgage lenders — a 65 - year - old who owns a house worth $ 250,000 with no outstanding mortgage might be able to borrow as much as $ 127,000, according to the Boston College Center For Retirement Research, although fees and other restrictions may reduce the amount of cash you can actually get your hands on at least inmortgage lenders — a 65 - year - old who owns a house worth $ 250,000 with no outstanding mortgage might be able to borrow as much as $ 127,000, according to the Boston College Center For Retirement Research, although fees and other restrictions may reduce the amount of cash you can actually get your hands on at least inmortgage might be able to borrow as much as $ 127,000, according to the Boston College Center For Retirement Research, although fees and other restrictions may reduce the amount of cash you can actually get your hands on at least initially.

You have to be at least 55 to get a reverse mortgage, and your borrowing capacity is limited to 50 % of the home's appraised value, depending on age and location.

I don't know what's coming at me over the next 30 years, so it just makes sense to get a Reverse Mortgage, unless of course you are Bill Gates.

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

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.

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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.

Homeowners who obtain a fixed - rate reverse mortgage get the entire amount of the loan at settlement, with no restrictions on its use.

When you want to get honest and straightforward reverse mortgage info, consult the certified housing counselors at American Consumer Credit Counseling (ACCC).

Reverse mortgages amortize negatively, which is a fancy way of saying that the cash the borrower receives today gets tacked onto the balance owed at the end, including interest, which accrues deferred.

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].

You will have one Reverse Mortgage Professional assigned to help you throughout, and because you are not getting passed around to a different person each time, your Reverse Mortgage Professional will know exactly at what point in the process you are.

Homeowners must be at least 62 and own their own homes to get a reverse mortgage.

Having an attorney contact the lender may go a long way at getting something done, as opposed to having a reverse mortgage loan officer contact the lender.

What makes these loans potentially toxic for lenders and the government also makes them attractive for borrowers: a homeowner who is at least 62 years old gets a lump sum of money, a line of credit, or monthly income from their reverse mortgage, and potentially does not have to repay the loan for decades.