Reverse Mortgage Loan Blog

Q. I am 70, still working, and have an interest-only loan at 5% which expires in September of 2009. I am looking to get a reverse mortgage by then so as to not have a house payment and/or realize some cash as well. My loan is $305,000 and the house’s approximate value is $780,000. What are my options?

A. Reverse mortgages are in a field unto themselves and are unlike regular mortgages. You need to talk with an expert in that field, but there is a great website that is the best place to get many of your questions answered. See it HERE.

Found here.

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