20 October 2008

Are Reverse Mortgages A Good Idea?

We have been hearing a lot about mortgages these days, should we have one and if so, what kind? Well there are many to choose from that is for sure, and one that does not really get a lot of attention lately from the news media is reverse mortgages.

I have older parents and when this became a possibility last year I mentioned it to my Mom. She did not seem to understand it well enough to make an informed decision and I think that a lot of people may be in the same boat. Now you can go right to a website that will give you all reverse mortgage information you will need to help make the choice. Information is available at MyReverseMortgagePro.com that will walk you through the entire process, from how it works to typical costs.

Some of the reverse mortgage benefits include being able to get to the equity you have built into your home over the years, no monthly payments until you move or the owners are no longer living. The payments are made each month right to you and the most important benefit in this entire process that they provide is Loan Counseling so that you the homeowner understand each part of the reverse mortgage process before you even begin the process. I wish that someone had that when I got my school loans!









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