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Read This Before Signing Your Reverse Mortgage Northern Va. Homeowners
There are many reasons Northern Virginia homeowners take out reverse mortgages.  However, this option is usually considered by cash-strapped seniors who own their homes and are looking to ease the burden of their golden years.
 

The beauty of reverse mortgages is that you'll receive money as long as you are current on property taxes and homeowners insurance.
While this seems like an appealing opportunity, it's a decision that should not be made lightly. Not only is the reverse mortgage complicated in itself, but homeowners make all sorts of mistakes when they're too quick to sign the dotted line.  So if you're considering one, be wary of the common pitfalls below.
Buying Into A Scam
With reverse mortgages becoming a more common option for those over 62, mischievous opportunists are searching for ways to solicit seniors in need of help.  Scammers will take advantage by charging high fees, funneling off parts of payments, creating fake loans or committing identity theft.  Ensure you use a lender approved by the Federal Housing Association.
Confusing Your Payment Options
Reverse mortgages come in many forms.  You can get the amount in one lump sum.  Tenure payments are another option that give you a certain ... more

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