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'Pros & Cons' Category Archives

Reverse Mortgage Pros and Cons? Know the Facts! (Updated 2019)

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Reverse Mortgage PROS 1. No Monthly Mortgage Payments A reverse mortgage allows eligible borrowers to live for life in their home with no monthly mortgage payments. The loan balance is repaid when you permanently vacate the home (when you sell the home or if you leave the home for care including for 12 months or more).  You do not have to...
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Common Myths Surrounding Reverse Mortgages Expelled

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Reverse mortgages are a financial product that have gotten a lot of bad press over the years, leaving many people who could potentially benefit from this type of loan with negative or problematic associations. What’s the real problem with the Reverse Mortgage? Is it really as bad as some media outlets would have you believe? The short answer is no, but don’t just...
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4 Reasons When a Reverse Mortgage is a Good Idea

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It's funny when you hear someone with a definite opinion, one way or the other about reverse mortgages that is the same no matter who you're talking about or what the circumstances are. The choice of whether or not to get this loan isn’t universally a “good idea” or “bad decision"...
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3 Ways to Get Out of a Reverse Mortgage Loan

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Margaret has sent the following question in the ask ARLO! blog I have a reverse mortgage and I'm having problems with it. Was it legal for me to get a reverse mortgage without my own lawyer to explain the situation to me? I never knew the pros and cons of a reverse mortgage. I think it's a legal way to Swindle...
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What is the Downside of Getting a Reverse Mortgage?

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A reverse mortgage is a loan, and as with any type of loan there are benefits and there can be downsides. What is the downside to reverse mortgages?  A reverse mortgage is a loan, and as with any type of loan there are benefits and there can be downsides. Here, we will address some of the pros and cons associated...
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Considering a Reverse Mortgage? Avoid These 3 Common Mistakes

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Reverse mortgage can be valuable retirement tools, but they need to be used responsibly. Like many other financial products, the effectiveness of reverse mortgages is only as good as the judgement of the borrowers who use them. For homeowners age 62 and older, a reverse mortgage can provide an additional source of cash flow to supplement retirement savings....
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Is the Reverse Mortgage the Best Choice For You?

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Comment: my partner is 71, I am 75, We own our condo in CA  the balance on the mortgage is 52,000 and the approx value is 150,000-160,000.  is this program the best choice for us? Hi Rudy, You know, you used the magic words in there, "..the best thing for us".  We are of the opinion that reverse mortgages...
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