Reverse Mortgage Purchase Options in Portland Oregon
Are you waiting for the market to correct before you list your property so you can sell it for top dollar? Don't! There is no better time to list and sell your property than right now, this is the time that you can sell low and more importantly BUY LOW. Here is another example of how you can come out ahead in today's market. Consider a Reverse Mortgage Purchase Option in Portland Oregon or anywhere else for that matter. Financial Advisers and other professionals today have a much better understanding how to utilize this financing option to create a more efficient plan that will increase the likelihood of having a successful Retirement. Click here for more information
Here are the qualifications: Each borrower must be 62, purchased property is principle place of residence, continue to pay your property tax, insurance and upkeep on the home just like you would anyway. With a Reverse Mortgage for Purchase you are putting a larger down payment but do not have monthly principle and interest payments to make every month. Even if you are thinking of paying cash for your next home take the time to educate yourself on how Reverse Mortgage for Purchase works because you can set up a line of credit that can't be cancelled (like so many of us saw in 2007 and 2008), it has a growth factor that is independent of the home value (so even if the value of your home goes down that value of your unused line of credit continues to grow. If you choose to pay it off early you can do so with out a pre payment penalty or when you are ready to sell it the remaining equity goes to your heirs. One of the beauties of this loan is that if you live in the home long enough to owe more on the loan that what the property is worth your heirs and your estate will not have to pay the difference.
If you are downsizing or right sizing you can create an investment account if you use this financing option. Your Financial Planner will be able to manage your funds instead of selling at today's low values meaning your portfolio will perform longer for you. You can have peace of mind! Don't call one of those numbers on TV and talk to someone in a call center: find someone local that will meet with you and your professional adviser face to face. Please feel free to visit my website for more information as well as the calculator for Reverse Mortgage for Purchase. You do have options!
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