reverse mortgage: The Pros and Cons of a Reverse Morgage - 08/25/23 10:37 AM
A reverse mortgage can provide both advantages and disadvantages to homeowners. On the positive side, it can increase retirement income, stay in your home for extended periods, and pay off debts.
However, it's essential to consider potential drawbacks such as reduced home equity, high upfront costs, and the risk of losing the property for non-payment of taxes and insurance. Sometimes homeowners have a change of heart and want to know how to get out of a reverse mortgage. It can be done, but educating yourself before terminating a loan you don't wish to is far better.
Understanding the pros and cons can help … (5 comments)

reverse mortgage: Things to Know About Reverse Mortgages - 01/28/20 07:25 AM
 
Should I Get a Reverse Mortgage?Are you interested in learning about reverse mortgages? When you get older, there are many advantages to reverse mortgaging your home. However, it is essential to understand what a reverse mortgage is and how this type of loan works. There are certainly pros and cons to this type of loan product.
Most importantly, it is essential to take out your reverse mortgage with an approved lender. Look out for a Home Equity Conversion Mortgage (HECM). This product is only offered by FHA-approved lenders and insured by the federal government. See what to know about reverse mortgages in … (1 comments)

 
Bill Gassett, Metrowest Massachusetts Real Estate (RE/MAX Executive Realty)

Bill Gassett

Metrowest Massachusetts Real Estate

Hopkinton, MA

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RE/MAX Executive Realty

Address: 22 South St #203, Hopkinton, MA, 01748

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Metrowest MA Real Estate - Realtor specializing in home sales in Hopkinton, Milford, Holliston, Ashland, Southboro, Westboro, Upton, Mendon, Hopedale, Grafton, Medway, Northbridge, Franklin, Framingham, Shrewsbury, Northboro, Bellingham, Sutton, and Uxbridge MA. Includes Real Estate home selling & buying tips, Homes for sale in and around Metrowest.



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