Sentences with phrase «reverse of buying a house»
This one works in the reverse of buying a house.
https://thecollegeinvestor.com/ Not exact matches
The reverse mortgage is supposed to be the last loan you will ever need and if you know this is not your forever home, consider using your reverse mortgage to buy the right house instead of as a temporary solution that is not a true solution at all.
The homeowner and his wife decided to sell their house, applied 50 % of the proceeds for a down payment on a smaller, low - maintenance condo, used the Purchase Reverse Mortgage to finance the rest, and bought a long - term care insurance policy with the leftover proceeds.
Since buying the house and acquiring a reverse mortgage are part of a single transaction, you only pay one set of closing costs.
The reverse mortgage is supposed to be the last loan you will ever need and if you know this is not your forever home, consider using your reverse mortgage to buy the right house instead of as a temporary solution that is not a true solution at all.
But did you know there's another kind of reverse mortgage, also insured by FHA, that lets seniors buy a house with the proceeds?