Reverse Annuity Reverse Mortgage. Should She Get An Annuity?
Reverse Mortgage. Should she get an annuity? - reverse annuity
My mother has a line type of reverse mortgage. I could not live without him, but now that I have, you can receive a pension, which a wise decision. She took the loan for 1 year.
|
3 comments:
What kind of pension?
not a fixed term of years annuity, long, perhaps for a life annuity
What kind of pension?
not a fixed term of years annuity, long, perhaps for a life annuity
The reverse mortgage has to move a "last resort" to.
The problem is that lenders make a huge amt to. Interests --
a bit like a "normal" mortgage, which will pay in the early years ..
Example: In a normal mortgage. If your payment in the first year is $ 700 - $ 550 more than the fact that the payment can go to (and interest) not to pay the debt!
Thus, a reverse mortgage. You lose a lot of equity in the house he built - because the same interest rate made by the lender is.
As I recall, there are several options how you want the dead hand. paid - monthly, annually or "as needed".
And I think that only 3 of these options have an interest, derived by the death which. Owner's Option 3
I think the best choice is - the 3rd Option to leave "to
Funds earn little interest, and for the removal of large sums of money than necessary. (especially if you do not need the money for normal expenditures) So, unless this "re-earn" some inteMoney.
Reverse mortgage programs vary from lender l '. Of course it would be nice if you could speak, informs a loan officer.
Post a Comment