Sentences with phrase «mortgage at any time they choose»
Therefore, the answer is yes: a borrower can sell a home with a reverse mortgage at any time they choose, just like a traditional mortgage.
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Therefore, the answer is yes: a borrower can sell a home with a reverse mortgage at any time they choose, just like a traditional mortgage.
Not exact matches
However, you don't get the liberty of choosing the shortest possible mortgage rate lock, then extending 15 days at a time, as needed.
California first - time home buyers often feel overwhelmed and intimidated at the prospect of choosing a mortgage loan.
Now one of the reasons we chose to do a second mortgage at that time was there was at least two years left on his mortgage.
Reverse Mortgage Loans are not subject to prepayment penalties and therefore you can repay any portion of the excess proceeds you received at closing at any time to lower your balance, or you can choose a line of credit and only advance the portion of funds that you wish at closing.
Finally, the third and most popular option for Florida reverse mortgages is a line of credit, where the borrower chooses how much money is paid to them at any particular time.
At that time, the estate can either repay the balance of the reverse mortgage loan and keep the home or choose to sell the home to pay off the outstanding balance.