Sentences with phrase «still get a reverse mortgage»
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!
https://reverse.mortgage/
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!
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).
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.
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.
Sure, you could get a reverse mortgage but the fees are high and you are still living in a house that you can't afford.
Reverse mortgage — A financial plan for homeowners age 62 + that allows them to get payments for their home each month while still retaining equity until they pass away.
«With the reverse mortgage purchase, effectively, you still can get the house with no monthly mortgage payments, and you can stay liquid,» he says.
Still, if you wanted to follow that route, it would not interfere with getting a reverse mortgage at a later date.
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.