Roseville Realtor Jen Klein and Liz Baeza discuss the myths of a Reverse Mortgage- As more and more baby boomers move towards retirement and are looking to downsize or just simply move into their retirement home, financing has become more of an obstacle. With fixed incomes and large down payments, they are stuck attempting to figure out how to purchase with fixed monthly incomes. A reverse mortgage is a powerful purchasing tool and should be considered in areas where it applies. There are several benefits involved as well. Here are some of the myths of a Reverse Mortgage:
MYTH – “The bank owns my home, I don’t own it?”
REALITY – The borrower owns the home and is on title.
MYTH – “The debt passes to my heirs and there is no inheritance left for them?”
REALITY – No debt passes to heirs, the loan is insured by FHA
Watch all 4 videos to become familiar with how they work and what the requirements are. For more information check out www.JenKlein.com or call Jen Klein (916)230-3880 or Liz Baeza at (916)223-8869 or firstname.lastname@example.org.
H.E.C.M. defined, Qualifications of a Reverse Mortgage, Benefits of a Reverse Mortgage, What’s going on in the City of Rocklin? Walmar/Target, Roseville And Rocklin Real Estate Scoop, Search for homes
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