By Admin on Jan 27, 2012 in Financial Services
and what would cause you to lose your home from having a reverse mortgage? ty
What happens to your house when you have used up all the money from a reverse mortgage?
What is Reverse Mortgage, How does reverse mortgage work, Advantages & Disadvantages of reverse mortgage.
loss of value of the home, going upside down
LOTS of fees with reverse mortgage, not a great deal in most cases
when you use up the reverse mortgage, there is usually some equity left
when you use up everything, you sell the house and pay them back
chatsplas | Jan 27, 2012 | Reply
remember, a reverse mortgage normally pays out over 30 YEARS. I am guessing your
RM recipient has not received 30 yrs of payments.
when the 30 yrs is over, the house is re-financed and the lender paid off.
kemperk | Jan 27, 2012 | Reply