Thinking About A Reverse Mortgage?

By
Real Estate Agent with Classic Realty Realtor

I am not a Lender or a Mortgage Loan Officer. For sure, I am a Real Estate Agent - A Realtor®.  As a Real Estate Agent, I always want my clients/readers to be informed in ALL areas of finance and re-finance when it comes to Mortgage.

I came across an interesting article this morning on 3 Must Knows Before Taking Out A Reverse Mortgage. I found it so interesting that I decided to post it today. Hopefully you will find it helpful. Simply follow the link above to view. By the way, the Author is Bernice Ross.

Thinking About A Reverse Mortgage? The above article might just help to provide you with some answers. By all means, never hesitate to contact your attorney when facing any kind of legal documents/decisions you need to care for.


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Topic:
Lending / Financial
Location:
Virginia
Tags:
haymarket mls
fairfax mls
haymarket homes for sale
fairfax homes for sale
reverse mortgage

Comments 7 New Comment

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Rainmaker
1,372,796
Joan Cox
Denver Real Estate - Selling One Home at a Time
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373

David, they are popular with the homeowners, just not the kids!    This year I did a reverse mortgage purchase with some buyers --- never knew you could!

August 20, 2012 03:39 PM
Rainmaker
342,799
Shannon Milligan, Richmond VA Real Estate Agent
RVA Home Team - Winning with Integrity.
RVA Home Team with Jefferson Properties

Great information for those thinking about a reverse mortgage. It isn't something I have worked with yet, but I have a feeling that will be changing!

August 20, 2012 04:41 PM
Ambassador
829,425
John McCormack
AlbuquerqueHomes.com
Albuquerque Homes Realty * www.AlbuquerqueHomes.com

David, So far I have not had to deal with a reverse mortgage.  I have no doubt it's coming.  I home I personally never have to resort to a reverse mortgage.  One just never knows what the future holds.  I know several in their late 70's that are utilizing the process in order to maintain the lifestyle they have been accustom to before retirement.

 

August 20, 2012 04:48 PM
Rainmaker
528,891
David Burrows
No Pressure, Just Seriously Devoted to Real Estate
Classic Realty

Joan, you are correct that this approach to finance is NOT popular with the kids. Thanks for visiting my post today.

Shannon, I have a feeling you are right - the tide seems to be changing. Thanks for coming by.

John, I hope I don't have to utilize this means of finance, too. Enjoy a great day!

August 21, 2012 04:01 AM
Rainmaker
576,324
Patricia Feager, MBA, GRI, Cert Negotiations Expert, Military Relo Prof
The Little REALTOR® That Could
Keller Williams Realty

David,

Reverse Mortage is an interesting topic. I like how you tackled the subject matter and provided a source of information.

When it comes to Real Estate, you're the best at what you do because you do everything so well and you know how to get answers. I don't know a lot about reverse mortgage, but I know one thing for sure, neither do the advertisers after midnight on television.

David Burrows is the man of the hour!

August 22, 2012 07:22 AM
Rainmaker
711,122
Will Nesbitt
Nesbitt Realty is a family-run brokerage.
Nesbitt Realty at Condo Alexandria

Great reblog David! Have a nice week!

August 22, 2012 01:05 PM
Rainmaker
868,363
Joe Petrowsky
Your Mortgage Consultant for Life
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709

Reverse mortgages are not for everyone. We have one person in my office that handles them and I often hear him talking folks out of considering that option. It is really important to consult with someone knowledgeable, as these descions are extremely important.

August 25, 2012 01:39 AM
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Rainmaker
528,891

David Burrows

No Pressure, Just Seriously Devoted to Real Estate
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