Can a Reverse Mortgage Can Help You Sell More Houses?

Mary, Very interesting that you wrote about reverse mortgages today. I just posted one about Home Safe Reverse Mortgage. Yes, many are taking advantage of this nice tool to purchase more homes.

Mary - I think we could all use more information to better understand reverse mortgages. I think in the right situation, this could benefit many.

Mary, I think we all need to learn more about reverse mortgages.  I didn't realize that with a big down payment, a buyer can avoid a mortage payment.  It's also going to make it more important for condos to obtain their FHA financing. 

I need a better understanding of reverse mortgages. I guess they have changed over the last few years. 

Thanks Mary.  Yes, this could be an excellent way to downsize for some seniors.

I must admit the  only things I have heard about reverse mortgages have been overwhelming negative

Mary,

Thanks for inviting me to join Active Rain and meeting with me Last Friday, to learn about the reverse mortgage purchase program.  I see some comments have been posted concerning the reverse mortgage/purchase program.  The RM program is only available for homeowners/purchasers 62 years of age or older, though spouses can be part of the transaction as young as 18 years old.  The simplest way to understand how the reverse purchase works is that a buyer can at least double their owner occupied 1 to 4 unit buying  power  with no monthly mortgage payment due. Reverse purchases can be utilized to downsize, rightsize, up size and move across the street or across the country.

Thanks Mary!!   

I attended a class on reverse mortgages and learned a lot. They have their place but there are also other alternatives that may suit the sellers needs.