Reverse Mortgage Advantages

Richard142 By Richard142, 24th Feb 2013 | Follow this author | RSS Feed | Short URL http://nut.bz/7n5st0ug/
Posted in Wikinut>Money>Mortgages

A reverse mortgage is a powerful financial tool for seniors looking to take advantage of some of the locked-up equity in their homes.

Advantages of Reverse Mortgages

Lenders are mainly focused on explaining the positives of the program – since we are not a lender we can explain to you in detail all the negatives and how the affect your financial situation – this way you can really understand if the disadvantages should stop you from considering a reverse – after reading the above you should have realized that while there are negatives to the program it is a viable solution for many seniors.

Advantages of a Reverse Mortgage

1. Allows you to stay in your home and retain the title
2. Eliminates all mortgage payments
3. Enables you to use the cash any way you want
4. Funds home repairs
5. Helps pay off existing debt
6. Funds medical expenses and/or long-term care insurance
7. Helps you to enjoy additional leisure activities
8. Provides easy access to the equity you have built in your home
9. Provides funds to improve your quality of life

Tags

Reverse Mortgage, Reverse Mortgage Lenders Direct

Meet the author

author avatar Richard142
Im new to write a blog. I am looking to learn about reverse mortgages which is helpful for seniors. I want to write about this.

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Comments

author avatar Reni Sentana-Ries
24th Feb 2013 (#)

The reverse mortgage system offered to seniors is a fail-safe way for banks to regain control of paid-off assets and thereby deprive children and grandchildren of ever inheriting what their parents have worked for for decades. For that reason I would never recommend it to anyone.

Since banks are in the money-creating business, they essentially get the houses given to them for free - that is by the mere "stroke of a pen." One of the many reasons why the b

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author avatar Reni Sentana-Ries
24th Feb 2013 (#)

Sorry, my screen jumped and posted before I was finished.

That is why the banker is fat while the public becomes anorexic.

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8th Sep 2017 (#)

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