Reverse Mortgages for Dummies
For seniors who live on a fixed income, owning a home--and keeping it--can be financially challenging. Rather than face the choice of selling your ... Show synopsis For seniors who live on a fixed income, owning a home--and keeping it--can be financially challenging. Rather than face the choice of selling your home and moving or becoming a home-owning pauper, reverse mortgage products let seniors convert part of their equity into tax-free income that can be used for anything--even mortgage payments, living expenses, or medical costs. "Reverse Mortgages For Dummies" covers all the basics of reverse mortgage products so you and your adult children can understand and take full advantage of these handy loans--and keep the home you love. Covering a full range of reverse mortgage options and topics, you'll discover how to: Decide if a reverse mortgage is right for youShop for the best reverse mortgage productsFind out if your home is eligibleFind a counselor who can help you Written by Sarah Lyons, an Assistant Editor at "Mortgage Originator" magazine, and John Lucas, an experienced reverse mortgage specialist, "Reverse Mortgages For Dummies" explains these helpful loan products in simple, easy-to-understand language free of all the jargon. Once you understand how reverse mortgages differ from other loans--and what you could do with your reverse mortgage--the book covers the specifics you need to find the right loan for you, including: Special advice for adult children helping their senior parents secure a loanHow to get a reverse mortgage and keep your second home legallyProperty requirements and financing feesSelecting among a multitude of lendersSpending and estimating leftover equitySharing the decision-making process with family and loved ones If you're a senior wondering whether a reverse mortgage can help you keep your home, this book gives you the information you need to make smart, informed decisions that are vital to you, and your family's, security. "Reverse Mortgages For Dummies" will help you keep your home and live the life you want.