MONEYHOUSE REVERSE MORTGAGE FULL
MONEYHOUSE REVERSE MORTGAGE FREE

There are no additional income, asset or credit requirements to qualify for a reverse mortgage.Īs a general rule, the older you are and the greater your equity, the larger the reverse mortgage monetization.

MONEYHOUSE REVERSE MORTGAGE FREE

The property does not have to be owned free and clear (although the reverse mortgage must pay off any outstanding liens against your property before you can withdraw additional funds). Applicants must be at least 62 years old, and the property in question must be the owner’s primary residence.

MONEYHOUSE REVERSE MORTGAGE FULL

But while the house serves as collateral in a reverse mortgage, the lender has no recourse to demand additional repayment from any family member if there is not enough equity in the property to pay the loan in full i.e., the borrower’s estate cannot be forced to pay the difference if the property’s value declines during the reverse mortgage.īecause the qualifications for entering into a reverse mortgage agreement are minimal, a reverse mortgage is one of the easiest monetizing strategies to execute. If there is any additional equity in the property, it remains with the homeowner or his/her beneficiaries. Hence, the “reverse” mortgage.Ī reverse mortgage loan is not due and payable until the borrower ceases to occupy the home (i.e., the borrower sells, moves out permanently or passes away), at which time the balance of borrowed funds (including the accrued interest) is due. Unlike a typical loan agreement, the cash flow is reversed – the bank is sending money to the homeowner, instead of the other way around. Along with several other unique advantages, a reverse mortgage can be a very attractive asset for older individuals to monetize.Ī reverse mortgage is a loan against the equity in a principal residence that provides you cash advances, but requires no mandatory monthly repayments during the life of the loan.

A reverse mortgage is a unique monetization-by-borrowing agreement that offers flexible and deferred repayment options.

But most monetizing strategies that involve conventional borrowing come with the obligation of regular scheduled repayments. A typical method of monetizing real estate assets is taking a loan against the equity.

Moneyhouse reverse mortgage