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Mobile: 778-246-2547 | Email: win@winonareinsma.com
Blog Post
Myths about Reverse Mortgages
Winona Reinsma • Apr 04, 2024
Reverse Mortgage Myths
You don't have to abandon your home!
Let's debunk some of the most common myths surrounding Reverse Mortgages.
Myth #1 - "Loss of Homeownership":
You retain ownership as long as you live there and meet the loan requirements. Live in your home for as long as you want.
Myth #2 - "High Monthly Payments":
Contrary to popular belief, you don't make monthly payments with a reverse mortgage. No payment requirements, ever!
Myth #3 - "Debt to Heirs":
The loan is a non-recourse loan, meaning that the borrower will never owe more than the home is worth. In our market it has very rarely happened that the mortgage debt exceeds the sale proceeds of the subject property. However, you can reassure your kids that they will never have to pay for you to enjoy your life!
Call for a free consultation to see if a Reverse Mortgage can you help you live life on your terms!
Winona, Certified Reverse Mortgage Expert, 778.246.2547