For seniors who live on a fixed income, owning a home andkeeping it can be financially challenging. Rather than facethe choice of selling your home and moving or becoming ahome-owning pauper, reverse mortgage products let seniors convertpart of their equity into tax-free income that can be used foranything even mortgage payments, living expenses, or medicalcosts.
Reverse Mortgages For Dummies covers all the basics ofreverse mortgage products so you and your adult children canunderstand and take full advantage of these handy loans andkeep the home you love. Covering a full range of reverse mortgageoptions and topics, you ll discover how to:
- Decide if a reverse mortgage is right for you
- Shop for the best reverse mortgage products
- Find out if your home is eligible
- Find a counselor who can help you
Written by Sarah Lyons, an Assistant Editor at MortgageOriginator magazine, and John Lucas, an experienced reversemortgage specialist, Reverse Mortgages For Dummies explainsthese helpful loan products in simple, easy-to-understand languagefree of all the jargon. Once you understand how reverse mortgagesdiffer from other loans and what you could do with yourreverse mortgage the book covers the specifics you need tofind the right loan for you, including:
- Special advice for adult children helping their senior parentssecure a loan
- How to get a reverse mortgage and keep your second homelegally
- Property requirements and financing fees
- Selecting among a multitude of lenders
- Spending and estimating leftover equity
- Sharing the decision-making process with family and lovedones
If you re a senior wondering whether a reverse mortgagecan help you keep your home, this book gives you the informationyou need to make smart, informed decisions that are vital to you,and your family s, security. Reverse Mortgages ForDummies will help you keep your home and live the life youwant.
