9 Alternatives To A Reverse Mortgage
Published
Jan 24 2020 at 3:00 PM GMT
Key
Points
Points
- MoneyTipsA reverse mortgage allows you to convert the equity in your home to cash that you can use for other purposes.
- Essentially, you're selling your home back to a lender in increments.
- It's a popular method for seniors to supplement living expenses.
- Repayments don't begin until the owner permanently moves out of the home, passes away, or transfers ownership " as long as the home is maintained and property-related bills (taxes and insurance) are paid.
- However, reverse mortgages have downsides, including.
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- Published Jan 24, 2020 3:00 PM GMT