Are Reverse Mortgages Good in a Slumping Housing Market?

By
Real Estate Agent with Realty Direct

Top Ten Things to Know if You're Interested in a Reverse Mortgage


Reverse Mortgages are becoming popular in America. The U.S. Department of Housing and Urban Development (HUD) created one of the first. HUD's Reverse Mortgage is a federally-insured private loan, and it's a safe plan that can give older Americans greater financial security. Many seniors use it to supplement social security, meet unexpected medical expenses, make home improvements, and more. You can receive free information about reverse mortgages by calling AARP at: 1-800-209-8085, toll-free. Since your home is probably your largest single investment, it's smart to know more about reverse mortgages, and decide if one is right for you!

1. What is a reverse mortgage?

2. Can I qualify for a HUD reverse mortgage?

3. Can I apply if I didn't buy my present house with FHA mortgage insurance?

4. What types of homes are eligible?

5. What's the difference between a reverse mortgage and a bank home equity loan?

6. Can the lender take my home away if I outlive the loan?

7. Will I still have an estate that I can leave to my heirs?

8. How much money can I get from my home?

9. Should I use an estate planning service to find a reverse mortgage?

10. How do I receive my payments?

Click here: http://www.nowuknowonline.com/forum/topics/are-reverse-mortgages-good-in to get the answers to each question!



Source: HUD (Housing and Urban Development)



Source: HUD (Housing and Urban Development)

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