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Started By
Message
re: IS A REVERSE MORTGAGE A GOOD IDEA? Need Help deciding
Posted on 9/27/23 at 7:33 am to LatinTiger30
Posted on 9/27/23 at 7:33 am to LatinTiger30
quote:
Never! If the lender default and they do a lot, you'll lose it all.
What? The loan is insured and guaranteed by HUD
So this cannot happen
1
Posted on 9/27/23 at 8:00 am to SDVTiger
I think if you have no family and you want to use up the equity to help retire, is should work. Some people say it's good.
I had my parents refi at 3% with a big cash out to help with living cost for the next 8-10 years. They are older than you though.
At that time we figure out another plan.
I had my parents refi at 3% with a big cash out to help with living cost for the next 8-10 years. They are older than you though.
At that time we figure out another plan.
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