Myths about reverse mortgage

The Myths of Reverse Mortgage

Here you have the Myths about Reverse mortgage. what to expect and what are the real facts

Myths:

  • The bank owns the home.
  • People with a reverse mortgage will owe more than their house is worth.
  • Reverse Mortgages are too expensive because the rates are high.
  • A reverse mortgage is a solution of last resort.
  • A Home Equity Line of Credit (HELOC) is a better option.
  • The bank can force the homeowner to sell or foreclose at any time.
  • The homeowner cannot get a reverse mortgage if they have an existing mortgage.

Click here to get the facts

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