Why You May Need Power of Attorney to Obtain a Reverse Mortgage
Are you under the impression that you will easily be able to make all financial decisions for your spouse should he/she become incapacitated?
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Are you under the impression that you will easily be able to make all financial decisions for your spouse should he/she become incapacitated?
Non-borrowing spouse can remain in the property after the borrowing spouse has passed away, assuming they meet the requirements
As of April 27, 2015, the rules for obtaining a reverse mortgages require the applicant to pass a three-part qualification: credit history analysis, residual income test, review of extenuating circumstances, or compensating factors.
One of the first steps in determining whether you should take out a reverse mortgage is by taking a look at how your family views your home equity.
A reverse mortgage is a great idea for seniors who might be facing a financial shortfall in retirement.
When you can’t rely on retirement savings alone, a reverse mortgage can help bridge the gap between near-poverty and comfort.
Splitting your home equity as part of a divorce by using a reverse mortgage to make the fifty percent equity payment can be a low risk way of taking care of the spouse that will no longer occupy the property.
HUD/FHA allow you to refinance a reverse mortgage if there is a net tangible benefit to doing so.
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Premier Reverse Mortgage, LLC
1640 Powers Ferry Rd SE
Bldg. 28, Ste. 300
Marietta, GA 30067
(800) 996-5361
info@premierreverse.com