Wouldn’t it be nice to grab some quick cash from the equity in your home once you get into your later years? You might have some medical expenses coming up or you might even have a nice vacation that you have been planning for years. I’ve always said that if it is too good to be true then chances are it is. We want to talk about the risk involved in pulling out a reverse mortgage on your home: Moving out of the property Whether you are the one getting the reverse mortgage or the child assisting the parent getting the mortgage, there are some details to consider before you do so. Most loans require you to fully occupy the property while the debt is still outstanding. This means that if you or your parent must be put into a nursing home or an assisted living facility at any time, the debt is still...Read More
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