Cincinnati Reverse Mortgage: 6 Easy Pros To Getting a Reverse Mortgage

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6 Easy Pros To Getting a Reverse Mortgage

Closing costs and ongoing fees, such as the Federal Housing Administration (FHA) Mortgage Insurance Premium (MIP), can be financed with the reverse mortgage loan — so out-of-pocket expenses can be minimal.
You can choose to take your funds as a lump sum; line of credit that you can tap as needed; a steady stream of monthly advances for a set period of time, or as long as you live in the home; or a combination of these options.
After the loan is repaid, any remaining equity belongs to you or your heirs.
A reverse mortgage loan is a non-recourse loan. This means that neither your nor your heirs are personally liable for any amount of the mortgage that exceeds the value of your home.
You continue to live in your home and retain title to it.
A reverse mortgage loan is a non-recourse loan. This means that neither your nor your heirs are personally liable for any amount of the mortgage that exceeds the value of your home.

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Tuesday

6 Easy Pros To Getting a Reverse Mortgage

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