are reverse mortgages a good idea

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A reverse mortgage could be a good idea for a homeowner looking to refinance and pay off a second mortgage, but there are some drawbacks. Q: In your recent column in the Oregonian, you attempted to help a retiree’s attempt to refinance. You gave him many ways to contort himself in order to become a.

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Is a reverse mortgage a good idea? There are so many factors when it comes to getting a reverse mortgage, that we can’t answer yes or no for you. Consider the reverse mortgage pros and cons, get multiple quotes, and talk to friends and family before making a decision.

A reveres mortgage will be a bad idea if you need cash for a short period of time and then repay the full amount,in such case reverse mortgage is a not a good option for you. The Minimum recommended time is for five years.

Now is a particularly good time for [reverse mortgages], with interest rates so low. Edelman, however, is still not sold on the idea. "I’ve seen [Salter’s analysis], and I don’t agree with his.

Is a Reverse Mortgage a Good or Bad Idea – Advantages & Disadvantages Compared Is a reverse mortgage right for you? It’s important to understand all of the factors involved with taking out one of these loans.

Jim Losito of Retirement Funding Solutions in the Greater Atlanta Area, says reverse mortgages can be a great option for any homeowner over.

Is a Reverse Mortgage a Good Idea for You?. Getting a reverse mortgage can be advantageous for many seniors looking for some additional capital. But just because you are 62 years of age or older doesn’t mean you would automatically benefit from obtaining a reverse mortgage loan. Before you.

While they may seem like a great idea on the surface, reverse mortgages are not ideal for everyone. Learn the benefits and risks of these.

In order to determine whether or not a reverse mortgage is a good idea for your specific situation, it is important to understand reverse mortgage benefits and learn everything that you can pertaining to the truth about reverse mortgages. Then, with your newfound knowledge, you can compare the best options.