A 4 million dollar reverse mortgage - really? A colleague of mine just completed a 4 million dollar jumbo reverse mortgage for a gentleman who only wanted to lock in a fixed rate, pay off his current mortgage and get no additional cash. He is a wealthy investor and didn't need … [Read more...] about A 4 Million Dollar Reverse Mortgage
Reverse Mortgages
A Reverse Mortgage for the Young and Comfortable
A Reverse Mortgage can serve a variety of needs. The following scenario is not that unusual these days. Dennis and Jill retired young. Their plan was to stop working at 55 and travel. They are both 57 years old now and their children are grown. A substantial part of their net … [Read more...] about A Reverse Mortgage for the Young and Comfortable
My Favorite Reverse Mortgage I’ve Done So Far
Maggie is widowed. She owns her home which is free and clear of a mortgage. We looked at the possibility of doing a reverse mortgage for her. Her retirement income wasn't enough for her to live comfortably each month and she was getting desperate. Her friends told her to get a … [Read more...] about My Favorite Reverse Mortgage I’ve Done So Far
Jumbo Reverse Mortgage
Because reverse mortgages are much misunderstood, and because there is a new type of jumbo reverse mortgage that most homeowners don't know about, I'm going to write a series of posts that give real-life stories. Reverse mortgages are much more versatile than most senior … [Read more...] about Jumbo Reverse Mortgage
