Avoid Foreclosure By Taking Out A Reverse Mortgage

Reblogger Monique Hailer
Real Estate Agent with Schooner Bay Realty., Inc. & CENTURY 21 New Millenniun 3290764


Original content by Eric J

With foreclosures on the rise, baby boomers and senior citizens are falling behind on their monthly mortgage payments. There are also those who are not in danger of foreclosing, but their current monthly mortgage payments are significant leaving them little to live on each month.

A reverse mortgage can end the payment nightmares for them AND they will never have to make another mortgage payment ever again! You can use reverse mortgages to end your current forward mortgage and since you will not have any more payments, that will help with your monthly cash flow problems.

In summary, this move eliminates your current mortgage payment forever without having to sell your home.

Many people think their homes are at risk with a reverse mortgage but that is far from the truth. You can never lose your home and you can pass it on to your heirs. It is federally insured by the FHA so you can never get upside down with a reverse mortgage.

It is a great way to live through a tax-free no payment vehicle like a reverse mortgage and does not have any impact on social security benefits, your pension, or medicare.



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Charles Stallions Real Estate Services
Charles Stallions Real Estate Services Inc - Gulf Breeze, FL
Buyers Agent 800-309-3414 Pace and Gulf Breeze,Fl.

So true and we are even selling a few new homes using the reverse.

Dec 01, 2009 02:39 PM #1
Monique Hailer
Schooner Bay Realty., Inc. & CENTURY 21 New Millenniun - Cape Coral, FL
South West Florida & Southern Maryland Homes

Wow Joyce that's a bit amazing since alot of homeowners are upside down. The sellers must have bought in 2003 or earlier. Normal appreciation is 3-4% a year. I am hapy for those that can,

Dec 02, 2009 11:48 AM #2
Susan Thompson-Solomons
Berkshire Hathaway Home Services McNelis Group Properties - Solomons, MD
Southern MD Real Estate-Solomons Specialist

Monique, there is good information here. There is a lot of misunderstanding about reverse mortgages and this is very helpful.

Dec 03, 2009 12:15 AM #3
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Monique Hailer

South West Florida & Southern Maryland Homes
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