Reverse Mortgage pros and cons

Newsweek turns eye toward reverse mortgage pros and cons The new column examines potential strengths and weaknesses of reverse mortgages, according to a team judged to be financial experts A reverse mortgage has potential utility for a homeowner in the right situation, but loan terms must be observed closely to remain in good standing and…

How a Cash Stash Can Help Retirees Keep Peace of Mind, if Not Portfolio When the market crashed last spring amid coronavirus fears, retiree Tim McDermott didn’t fret. The 58-year-old, who retired in November 2019 after running a derivatives exchange, keeps more than 40% of his assets in cash and near-cash investments. “We could probably…

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**The owner(s) retain title to the property that is the subject of the reverse mortgage until the person sells or transfers the property and is therefore responsible for paying property taxes, insurance, maintenance and related taxes. Failing to pay these amounts or failure to maintain the condition of your property may cause the reverse mortgage to become due immediately. A reverse mortgage is a complex loan secured by your home. Whether such mortgage makes sense for you depends on your financial situation and needs. For these reasons, you are required to consult with a qualified independent housing counselor and include family members and other trusted advisers before making this decision. This information is not from HUD or FHA and was not approved by HUD or any government agency.

Reverse Mortgage pros and cons

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