Detail The in’s and out’s of the reverse mortgage   Oleh:  Cortese-Danile, Teresa ; McCarthy, Irene N. Jenis: Article from Proceeding Dalam koleksi: American Society of Business and Behavioral Sciences (ASBBS) Proceedings: Feb 2014; Vol. 21 (1), page 1-9. Fulltext: 18 - ASBBS 2014 - p197.pdf (460.87KB) Isi artikel An increasing number of elderly Americans owning their own homes are opting for reverse mortgages. The primary motivation for this trend is out of need, rather than choice. Many have lost the better part of their savings as a result of the economic downturn of 2008, impacting their expectations for a desired lifestyle. There are many requirements when applying for a reverse mortgage and the process can be daunting for many. The homeowner should be aware of many issues associated with reverse mortgages. The outcome, including the fees involved, payment options, and restrictions are discussed. We also examine the government’s role in the reverse mortgage market and what it means to the applicant. This article examines the advantages and disadvantages, especially the potential surprises that await the homeowner if they do not carefully read the related documentation. Reverse mortgages are not appropriate for all seniors. A careful examination of the costs versus benefits will provide more transparent information for potential applicants. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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