Home Reverse Mortgage money concept as gold house symbol
107 – Reverse Mortgages – Using Home Equity to Pay for Home Care Needs
January 18, 2019
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109 – What’s the Difference Between a Power of Attorney, an Agent and an Attorney in Fact?
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108 – Reverse Mortgages – Walking Away From a Home – What Does It Mean and When Does It Happen?

Text Sign Showing Reverse Mortgage. Conceptual Photo Loan For Se

Text sign showing Reverse Mortgage. Conceptual photo loan for seniors age above sixties and older to be returned

What happens if you can’t pay the money you owe from a reverse mortgage back to the lender?  The answer is you are going to walk away from your house and not owe anything.  Yes, they will get the house but you will have gotten the equity – it’s as though you sold it back to the bank.  Listen to this episode and I will explain this situation and how you still benefit.

You get the money and they get the house – just like a sale – except you got to live in the house and use the proceeds from the sale before they got the house.  It’s a pretty good deal.

Thanks and all the best.

Casey

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