Helpful Mortgage And Real Estate Advice

Infographic – Reverse Mortgage Factsheet

By on November 14, 2013 in Mortgage Infographics

The Reverse Mortgage Factsheet

A Reverse Mortgage may not be for everyone, but it definitely has its advantages and can be beneficial for the right person. Reverse Mortgage eligibility requirements are pretty specific as it is only for seniors ages 62 and older and currently occupying and owning the home. A Reverse Mortgage would only be suitable for the borrower if the loan actually enhances their lifestyle by providing the additional income needed to get by, such as: pay off medical debt, paying for housing expenses, or even perhaps take a much needed vacation.

Keep in mind that in order to make a final decision and to ensure the making of a good decision, it is best to speak with your heirs as the home may be important to them and counseling with a HECM counselor is also required for all Reverse Mortgage Loans.

About the Author

About the Author: Jessica Lucas is the managing editor for Mortgage Home Base, a top real estate finance blog dedicated to helping borrowers and home buyers understand the home loan process. Follow Jessica on Google +, and share your comments here. .
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