There are various options available to homeowners who decide to get out of their reverse mortgages. Aside from dying or selling the home, borrowers can exercise their right of recission, repay the loan balance, refinance with a conventional mortgage, tap into their savings, or choose another reverse mortgage. When deciding which option to choose, the length of time since the money was borrowed and the consumer's overall financial situation play an important role. Indicators that a Reverse … [Read more...]
3 Alternatives to a Reverse Mortgage
Reverse mortgages are not the only option for retirees looking to enhance their cash flow. Alternatives, like refinancing the existing… READ MORE
