Are there any disadvantages to a reverse mortgage i should know about

Hello,There are many advantages to reverse mortgages. I would love to discuss the pros and the cons with you. When you have a free moment please feel free to contact me and I can send you some basic literature and review it with you. Thank you!Brad Miller 267-296-9185 bmiller@ahmcloans.com

Yes, If you don't call me to give you the best rate the disadvantage will be a higher interest rate. I may be able to get you the best rate in the entire country if you qualify. Thank you

The reverse mortgage is a great program for the right person, it's not for everyone. It's intended to help people afford to remain in their home and maintain their independence. If you are over the age of 62 (A requirement for the program) and you have a strong equity position or you're purchasing a new home and intend on putting a large deposit down it may be a good option. The front end cost are steep so it's important that you intend on keeping the mortgage for a long time for it to make sense.. If I can assist any farther I'm happy to help. You can reach me at 561-373-0371 or by email at tayloredmortgages@gmail.com..

oh yes.. but there are a lot of advantages as well.. with a RM, your responsible to pay your annual taxes and home owners insurance. You also have to pay for any upkeep or repairs. And because the mortgage is a reverse amortizing loan, your balance gets greater and greater each month.. if rates are low, then your home's value should keep pace and you should still have equity, however if the market declines again, it's possible your home could be worth less.. if you want to move and your home is not worth what is owed, you are responsible for the difference.. However if you no longer able to take care of yourself and you move to a care facility, then you could sell the home and you would not be liable for any deficiencies.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

The only disadvantage is, you trade income or debt relief now, for less equity in the future. The nice part of that is, you can pay back some of the principal and interest any time you choose, so you can treat it as a line of credit. I am a specialist in reverse mortgages, and that is all I do. The guidelines changed today, so contact me for up to date information, and the best possible service. Dave Metsker