martin county reverse mortgage: Reverse Mortgages on the Rise in Palm Beach County
- 10/22/15 11:51 PM
More and more baby boomers are finding out that their retirement strategies are falling short due to the rising costs of living expenses. Nowhere is this more evident than Palm Beach County. Luckily, with home values rising, baby boomers are finding that a HECM mortgage can help provide a safety net. Reverse Mortgages allow seniors 62 and older to use the equity in their home to set up an equity line for future expenses.
Reuters reports that every day, 10,000 baby boomers turn 65, the traditional retirement age in the United States. And 48 percent of them report they are not … (1 comments)
martin county reverse mortgage: Buying a House Using a Reverse Mortgage
- 02/03/14 02:40 AM
With all the changes in today’s lending guidelines, we are seeing more borrowers inquire about Reverse Mortgages. This product can be a very effective tool when dealing with seniors who qualify. The challenge is that most people are unaware that the product even exists. The majority of the loans I have done using this product, are from borrowers that applied for a more traditional loan. At first, most borrowers are skeptical. It seems unbelievable that you can get a loan buying a house that never needs to be paid back during your lifetime. But, after usually 45 minutes of bewilderment, most … (4 comments)
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