63 Comments
leave one →
Trackbacks
- Are You Confused on Whether to Use A Reverse Mortgage Broker, Bank Or Lender?Re « Beth's Reverse Mortgage Blog
- A Reverse Mortgage Should Be A Last Resort… To What? « Beth's Reverse Mortgage Blog
- We Are Not Chicken Littles – The Sky Is Not Falling In the Reverse Mortgage World! « Beth's Reverse Mortgage Blog
- Reverse Mortgages Are Expensive… Compared To What? « Beth's Reverse Mortgage Blog
- What Gives You A Sense of Independence? A Reverse Mortgage May Provide You These Freedoms! « Beth's Reverse Mortgage Blog
- Comparing Reverse Mortgage Closing Costs To A Conventional Mortgage – You’ll Be Surprised They Are Not That Different « Beth's Reverse Mortgage Blog
- Live in & cash Out, too – Thanks, MN Good Age « Beth's Reverse Mortgage Blog
- Questions About Reverse Mortgages Continue Receiving Misinformation As Responses « Beth's Reverse Mortgage Blog
- Facts Are Needed About The 101 year-old woman Who Did A HECM Reverse Mortgage And Was Evicted « Beth's Reverse Mortgage Blog
- “Our Reverse Mortgage Is Great. Gives Us Some Elbow Room.” And More Testimonies by Reverse Mortgage Borrowers « Beth's Reverse Mortgage Blog
- It May Be To Your Advantage To Do A Reverse Mortgage Now « Beth's Reverse Mortgage Blog
- You Need To Know That With A Reverse Mortgage You Remain in Control « Beth's Reverse Mortgage Blog
- Evaluating HECM Reverse Mortgage Payment Plan Options « Beth's Reverse Mortgage Blog
- Are you afraid to do a reverse mortgage? Twelve Reasons You Shouldn’t Be. « Beth's Reverse Mortgage Blog
- Where The Heart Is: Using Technology To Remain At Home « Beth's Reverse Mortgage Blog
- Eleven Statements To Listen For Indicating A Reverse Mortgage May Be Beneficial « Beth's Reverse Mortgage Blog
- Why Are People So Resistant to Reverse Mortgages? « Beth's Reverse Mortgage Blog
- Senior Loses Home After Listening to “Reverse Mortgages Are Bad” Advice « Beth's Reverse Mortgage Blog
- Reverse Mortgages Receive Some Good PR Coverage « Beth's Reverse Mortgage Blog
- Reverse Mortgages Provide Independence « Beth's Reverse Mortgage Blog
- America’s Freedoms and Independence Represented in Fireworks « Beth's Reverse Mortgage Blog
- A Reverse Mortgage Can Really Be Compared To Your Smart Phone « Beth's Reverse Mortgage Blog
- Be Cautious on Reverse Mortgages « Beth's Reverse Mortgage Blog
- You Don’t Need To Have A Mortgage To Do A Reverse Mortgage « Beth's Reverse Mortgage Blog
- “Own Your Future Minnesota” Campaign Launched – How are you personally preparing for your long-term care needs? « Beth's Reverse Mortgage Blog
- Are Reverse Mortgage Property Tax Defaults Really Due To The Reverse Mortgage? …They Are Not The Only Reason Seniors Lose Their Home « Beth's Reverse Mortgage Blog
- Have Senior Homeowners With Reverse Mortgages And Tax Defaults Really Gone Into Foreclosure and Lost Their Homes? You Are In For A Surprise! « Beth's Reverse Mortgage Blog
- FHA Lending Limit for Reverse Mortgages Extended « Beth's Reverse Mortgage Blog
- Reverse Mortgage Features and Terms Summary « Beth's Reverse Mortgage Blog
- Let Me Educate You On Adjustable Rate Reverse Mortgages « Beth's Reverse Mortgage Blog
- Reverse Mortgage Protects Retirement Funds « Beth's Reverse Mortgage Blog
- Reverse Mortgage Protects Retirement Plan « Beth's Reverse Mortgage Blog
- The answer to the common reverse mortgage tax question « Beth's Reverse Mortgage Blog
- Seniors, want to purchase your new home with no monthly mortgage payments? Use A Reverse Mortgage. | Beth's Reverse Mortgage Blog
- You’ve Decided To Do A Reverse Mortgage… Should You Do The HECM Standard or the HECM Saver? | Beth's Reverse Mortgage Blog
- Change Is Inevitable and They Are Coming To Reverse Mortgages Soon | Beth's Reverse Mortgage Blog
- Changes Are Inevitable and They Are Coming To Reverse Mortgages Soon | Beth's Reverse Mortgage Blog
- Caregiver Blog |
- Veterans Who Have Served Our Country Have Found The Reverse Mortgage Has Served Their Needs | Beth's Reverse Mortgage Blog
- Without The Reverse Mortgage Money I Would Have Been “Up The Creek Without A Paddle.” | Beth's Reverse Mortgage Blog
- Surprise! Reverse Mortgage Closing Costs Actually Compare to Conventional Mortgage Costs | Beth's Reverse Mortgage Blog
- Think you don’t need a reverse mortgage? Think again… Maybe you’ll WANT one. | Beth's Reverse Mortgage Blog
- Know a Senior Who Wants Security, Independence, Dignity, and Control? A Reverse Mortgage May Be The Answer! | Beth's Reverse Mortgage Blog
- Reverse Mortgages Provide Security, Independence, Dignity And Control | Beth's Reverse Mortgage Blog
- Reverse Mortgage Borrowers Remain in Control | Beth's Reverse Mortgage Blog
- Reverse Mortgage Features and Terms Summary | Minnesota Reverse Mortgages SIDAC
- Think you don’t need a reverse mortgage? Think again… Maybe you’ll WANT one. | Minnesota Reverse Mortgages SIDAC
- Reverse Mortgage Protects Retirement Plan | Minnesota Reverse Mortgages SIDAC
- Veterans Who Have Served Our Country Have Found The Reverse Mortgage Has Served Their Needs | Minnesota Reverse Mortgages SIDAC
- You’ve Decided To Do A Reverse Mortgage… Should You Do The HECM Standard or The HECM Saver? | Minnesota Reverse Mortgages SIDAC
- Seniors, want to purchase your new home with no monthly mortgage payments? Use A Reverse Mortgage. | Minnesota Reverse Mortgages SIDAC
- The answer to the common reverse mortgage tax question | Minnesota Reverse Mortgages SIDAC
- FHA Lending Limit for Reverse Mortgages Extended | Minnesota Reverse Mortgages SIDAC
- Have Senior Homeowners With Reverse Mortgages And Tax Defaults Really Gone Into Foreclosure and Lost Their Homes? You Are In For A Surprise! | Minnesota Reverse Mortgages SIDAC
- Be Cautious on Reverse Mortgages… And From Whom You Are Getting Your Reverse Mortgage Information | Minnesota Reverse Mortgages SIDAC
- Are you afraid to do a reverse mortgage? Twelve Reasons You Shouldn’t Be. | Minnesota Reverse Mortgages SIDAC
- Questions About Reverse Mortgages Continue Receiving Misinformation As Responses | Minnesota Reverse Mortgages SIDAC
- Senior Loses Home After Listening to “Reverse Mortgages Are Bad” Advice | Minnesota Reverse Mortgages SIDAC
Is it true that I can buy a house with 40% down and qualify for a reverse morgage? If true, can I resell the home if necessary?
Yes, you can use a reverse mortgage to purchase a home. The amount of funds available from the reverse mortgage (based on one’s age, appraised home value, and expected interest rate) will determine how much down is needed. A reverse mortgage expert licensed in your state can run calculations for you and assist you. Being the title remains in the borrower’s name, they can sell the home at any time they choose.
This is great information. As a home care owner I see this as a true option for people to be able to remain at home where they almost always want to be. I realize that reverse mortgages are not for everyone, but through misinformation, many clients choose to sell the house outright and move into assisted living or some other living arrangement. The problem there is not the other arrangement per se, but eliminating ‘going home’ as an option. Selling the home is so final.
What does primary residence mean, I have a summer home wher I spend 4 or 5 months a year, would I qualify
Primary residence is where you live the majority of the year, where your drivers license is registered, it is homesteaded vs a vacation home. HUD does allow for one to be out of their home, for example in your situation where you spend time in a summer home.