reverse mortgage myths - z reverse mortgage
TRANSCRIPT
Unfortunately, there are many misconceptions
and myths out there about Reverse
Mortgages. It seems like uneducated
individuals are spreading around the wrong
facts about reverse mortgages. Remember
not to listen to anyone and do you own
research before making a conscientious
decision about a reverse mortgage.
There are a few myths that I would like to point out
The lender will own my home after I pass away. (This is a Myth as you are
the sole owner of your property and your heirs will inherit your home and
they will have time to sell refinance or buy the home).
www.ZReverseMortgage.com
There are a few myths that I would like to point out
I must have no mortgage to qualify for a
Reverse Mortgage. (This is a myth as the
reverse mortgage formula is based on your
age, interest rate and the amount of equity
in your home. It is true that the mortgage
lien would have to get paid off, but it doesn’t mean that you won’t qualify for the
program).
I don’t have to make any payments. (This is
true, but remember that you still must pay
your own property taxes and home owners
insurance on a consistent basis).
www.ZReverseMortgage.com
I need a good credit score in order to qualify. (This is a myth as the Reverse
Mortgage doesn’t factor in any credit score requirement or income).
www.ZReverseMortgage.com
