Reverse Mortgage
The Complete Guide to Reverse Mortgages: Turn Your Home Equity into Instant Income!
by Tyler Kraemer

This book was so helpful in informing myself and my parents as to the options available for them. It was easy to read and easy to understand. It gave many helpful hints and helped us figure out if a reverse mortgage was approriate for them.

It is essential if you or someone in your family is considering, or wants to learn more about, a reverse mortgage loan. It walks you through the process from borrowing to repayment in a conversational, easy-to-read format. You can read about real life situations that are very helpful for you to see how a reverse mortgage can work for you.

The book provides precise information on each of the types of reverse mortgages that are available. You will find information about the ways in which you can receive your payments, and all of the incumbent fees and costs that may come with this kind of loan are revealed. It outlines how to protect yourself and how you are already protected. Checklists are provided covering all the points to consider before making each decision, such as how to choose a lender.

     

Reverse Mortgage - Disadvantages Of A Reverse Mortgage

Reverse Mortgage * Disadvantages Of A Reverse Mortgage

How To Turn Disadvantages Of A Reverse Mortgage To Your Advantage   
Keith Choy

When it comes to a reverse mortgage, wise consumers weigh the advantages and disadvantages prior to signing on the dotted line.


Let's start on a positive note, you could do what most borrowers do and opt for the reverse mortgage line of credit. Just think about how you would then be able to draw on the loan whenever money is required for daily living expenses, medical bills, prescription costs, home repairs, etc. This could really enhance your retirement years including in-home care expenses in later years.

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Changing The Consumerâs Online Home Search Game (RISMedia Real Estate News)
RISMEDIA, March 8, 2010—IDX MLS Internet home searching technology has come a long way since first introduced in 1999. This is when the National Association of Realtors first embraced the Internet...

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Furthermore, your new found income does not affect regular Social Security payments or Medicare benefits. And lenders cannot foreclose on the loan for the life of the borrower.


Okay, that's all well and good but how do you turn the major disadvantages of a reverse mortgage into a positive one? It's all in the perspective. For every negative there is a positive to obtaining this loan.

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Some Social Security Taxable (Fox News)
If you collect Social Security, some of it might be taxable, depending on your total income and marital status.

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It's true a reverse mortgage loan may affect your eligibility for state and federal government assistance programs such as Medicaid but it also gives you an important financial cushion and does not (as mentioned above) affect your regular Social Security payments or Medicare benefits.


You also have no monthly payments to make. Granted, the amount you owe continues to grow larger over time but you also have more cash on hand to enhance the quality of your current lifestyle. Look at it this way, you will now have all the money you need (and want). After all, it's your money. True, you won't have the full selling price of your home to leave your loved ones but if they're financially sound in their own right, do they really need a substantial inheritance?


Furthermore with the new found cash, you could re-invest into other income-generating streams such as stock and option trading. But that would be another story with its own pros and cons.


It all comes down to what's important to you, what your current financial needs are and if leaving money to heirs is something you feel you need or want to do.


To take a look at the basics of a reverse mortgage tips and info, get more details from http://www.wealthmountains.com/finance/reverse-mortgage-tips-info.htm


This article is part of the resources, guides and tools dedicated to your financial successes found on Keith Choy's WealthMountains Site. Visit his site at http://www.wealthmountains.com/finance

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Index of Articles about Reverse Mortgage

What Other Authors say about Reverse Mortgage

Mortgage Tips for AZ and FL by Ajeet Khurana

Americans waste much of their working lives thinking about, planning for, and dreaming of their years of retirement. These dreams often include fantasies of settling into a life minus all worries and looking...

The Disadvantages of Reverse Mortgages by Charles Kirkendall

A reverse mortgage can be an attractive option for many home-owning seniors that are having a hard time making ends meet. With a reverse mortgage, a senior homeowner will receive money for their home equity...

Reverse Mortgage Calculators - To Lend You a Hand by Bart Rutherford

Let's take a look at what the defination of a reverse mortgage is before talking about what a reverse mortgage calculator does. Reverse mortgage is what banks can offer to their clients above the age of...

How A Reverse Mortgage Works by Brad Stroh

Ever wonder how a reverse mortgage works? For folks that have lived in their home for a long time, they may very well be sitting on a gold mine. Home prices have increased greatly over the last thirty...

Reverse Mortgage Loans by Tony Robinson

If you were to ask the average consumer to define the reverse mortgage concept, you would find very few able to do so. Many consumers, especially those who aren't up on their mortgage products and their...