Zillow Shows Average Cost to Sell a Home.
for the past 2 days I cannot get your video to play? what’s up. I love watching you every morning and have for the last 5 years. we did change anything on our with our computers. Please advise
Try updating your browser or updating your flash maybe?
“Every Deal in Real Estate Is Different.”
I was told that in my first months in Real Estate…
and this could not be any truer
Reverse mortgages are actually a great way for seniors to live better and still have something to pass on to their heirs. It just might not be a good thing for our society (and the environment) when a reverse mortgage helps a lone senior keep their four bed, three and a half bath colonial, especially when they can’t do stairs.
The ‘heirs’ or ‘remaining partner’ have 60 days to perform. If they don’t they lose the property. I recently had a reverse mortgage referral person turn down a ref-reverse mortgage due to ‘not enough equity FOR THE HOMEOWNER’S AGE! Yes, it’s age-determined equity-based as well. The $13,000 to sell the ‘average home?’ That amount is nothing compared to the points made on a reverse mortgage.
Don’t recommend reverse mortgages and won’t do them myself.
Please Anne, stop spreading misinformation about Reverse Mortgages. Like any estate situation, the Reverse Mortgage balance is paid when the home is sold and that is only after the owner(s) moves or has passed away. The estate/heir is entitled to any profit from the sale and, in the event the debt is higher than the sale price, the FHA insurance pool (these are FHA loans) pays off the balance. And yes, sometimes there’s not enough equity to get a Reverse. Sorry you feel that way about these loans, but you’re sadly uneducated and misinformed about them.
Your email address will not be published. Required fields are marked *