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

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Rainmaker
1,539,091
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

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!

Aug 20, 2012 03:39 PM #1
Rainmaker
410,586
Shannon Milligan, Richmond VA Real Estate Agent
RVA Home Team - Richmond, VA
RVA Home Team - Winning with Integrity.

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!

Aug 20, 2012 04:41 PM #2
Ambassador
935,776
John McCormack
Albuquerque Homes Realty * www.AlbuquerqueHomes.com - Albuquerque, NM
AlbuquerqueHomes.com, Albuquerque Homes Realty

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.

 

Aug 20, 2012 04:48 PM #3
Rainmaker
532,593
David Burrows
Classic Realty - Fairfax, VA
No Pressure, Just Seriously Devoted to Real Estate

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!

Aug 21, 2012 04:01 AM #4
Rainmaker
673,625
Patricia Feager, MBA, GRI, Cert Negotiations Expert, Military Relo Prof
Keller Williams Realty - Flower Mound, TX
The Little REALTOR® That Could

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!

Aug 22, 2012 07:22 AM #5
Rainmaker
790,704
Will Nesbitt
Nesbitt Realty at Condo Alexandria - Alexandria, VA
Nesbitt Realty is a family-run brokerage.

Great reblog David! Have a nice week!

Aug 22, 2012 01:05 PM #6
Rainmaker
1,028,229
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

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.

Aug 25, 2012 01:39 AM #7
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Rainmaker
532,593

David Burrows

No Pressure, Just Seriously Devoted to Real Estate
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