Selling a house is a big undertaking. It requires a lot of planning and patience, but for those that need it, it is well worth it in order to find a more appropriate home. For those who already have a reverse mortgage on their home, selling is quite a bit more complicated. In today’s blog, Family Home Loan Texas discusses what to expect when selling a home with a reverse mortgage. (more…)
The Pros And Cons Of Reverse Mortgages
Reverse mortgages can be very helpful for those who need to free up spendable funds during their retirement. They also have a bad reputation in the minds of many. Because of this, it is important to educate yourself as much as possible in order to sift through common myths in the pursuit of facts. Once you are able to discern the truth and reality of these types of loans, you will be able to determine if one is right for you. Because of this, in today’s blog, Family Home Loan Texas goes through the pros and cons of reverse mortgages. (more…)
Why Reverse Mortgages Have A Bad Reputation
Although they can be exceedingly helpful tools, reverse mortgages have gotten a bad reputation over the years. While aspects of common criticisms are sometimes based on truth, many corrections have been made over recent years, and the vast majority of issues stem from miscommunications and poor optics. In today’s blog, Family Home Loan Texas discusses some reasons why reverse mortgages have a bad reputation and sheds the light on misconceptions. (more…)
Refinancing Your Reverse Mortgage
A reverse mortgage is an excellent way to free up funds by borrowing against the equity you have built up in your home. While it is a helpful tool and can allow you to cover large expenses, it is still a loan — one that you will eventually have to pay back with interest. Luckily, similar to traditional mortgages, you can refinance your reverse mortgage to take advantage of lower interest rates. In today’s blog, Family Home Loan Texas discusses what you need to know about refinancing your reverse mortgage. (more…)
What To Know Before Getting A Reverse Mortgage
A reverse mortgage can be a fantastic way to free up money once you become 62 years old. For those who have close to full equity in their home, receiving one can alleviate lots of anxiety about finances. That said, before starting the process, you should educate yourself on everything that it entails. In today’s blog, Family Home Loan Texas discusses the things you need to consider before getting a reverse mortgage.
Use A Reverse Mortgage To Buy Your Next Home
In a previous blog post, we discussed the various ways you can use reverse mortgages to help fund your retirement. In today’s blog, Family Home Loan Texas goes more in-depth describing how this type of mortgage can specifically help you buy your next home.
Am I Eligible For A Reverse Mortgage?
Life has a way of throwing unexpected things at us. While we do our best to adapt and remain flexible, we sometimes need some extra help. This is especially true for those who have retired, as many are working with a fixed income. Luckily, for those who qualify, a reverse mortgage is a great way to free up financial flexibility and live their lives how they want. In today’s blog, Family Home Loan Texas discusses eligibility requirements for individuals to receive a reverse mortgage. (more…)
What Is A Reverse Mortgage?
You’ve probably heard the term “reverse mortgage” quite a bit, but you might not fully understand what it is and how you can benefit from it. Don’t fret, though, because we have you covered. In today’s blog, Family Home Loan Texas discusses everything you need to know about this helpful loan. (more…)
Ways You Can Use a Reverse Mortgage
You have probably heard the term “reverse mortgage” quite a bit, but you might not have a full grasp of what it entails. Essentially, it is a way for you to free up spendable income by leveraging the equity you have in your house. If you are aged 62 years or older and have paid off most of your mortgage, you can take out this type of loan and receive a lump sum, monthly payments, a line of credit, or a combination of these. In today’s blog, Family Home Loan Texas explains the different ways you can utilize a reverse mortgage to make the most of your retirement and live on your own terms. (more…)
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