Saturday, January 5, 2013
Understanding reverse mortgage
Another great question came here asking wha is reverse mortgage, and how first thud help my debt? Reverse mortgages have been frequently targeted by commercials towards senior audience. A reverse mortgage is a method of avoiding foreclosure and bankruptcy. If you want to see if reverse mortgage is a potential route to financial freedom, consider the following. Be prepared to have a longer repayment term, as this is a contract renegotiation. Also, make sure your credit has no negative marks, as lenders who grant reverse mortgages want to see high credit scores. Before.considering reverse mortgages, be sure too look into consolidation or refinancing.