Comments on: Weakon 331: Reverse Mortgages http://weakonomics.com/2010/07/09/weakon-331-reverse-mortgages/ Everything That's Wrong With You And Your Money Wed, 08 Feb 2012 22:32:00 +0000 hourly 1 http://wordpress.org/?v=3.0.3 By: Hattie http://weakonomics.com/2010/07/09/weakon-331-reverse-mortgages/comment-page-1/#comment-4375 Hattie Sat, 10 Jul 2010 22:29:45 +0000 http://weakonomics.com/?p=4553#comment-4375 The reverse mortgage lends you a PERCENTAGE of the value of the house and the older you are, the greater the percentage you can get. If that amount is enough to pay off an existing mortgage, then you can get the reverse, You will have a new mortgage with no payments required for as long as you live in the home, pay taxes and insurance and keep it up. Any proceeds money left after paying the old mortgage goes to you. The reverse mortgage lends you a PERCENTAGE of the value of the house and the older you are, the greater the percentage you can get. If that amount is enough to pay off an existing mortgage, then you can get the reverse, You will have a new mortgage with no payments required for as long as you live in the home, pay taxes and insurance and keep it up. Any proceeds money left after paying the old mortgage goes to you.

]]> By: Alley Hastings http://weakonomics.com/2010/07/09/weakon-331-reverse-mortgages/comment-page-1/#comment-4373 Alley Hastings Sat, 10 Jul 2010 12:16:36 +0000 http://weakonomics.com/?p=4553#comment-4373 having a good cash flow will help us get out of that what we call "rat race" I plan all my purchases because I dont want to work and get paid just to pay other bills... hate that happen. thanks for your ideas. having a good cash flow will help us get out of that what we call “rat race”

I plan all my purchases because I dont want to work and get paid just to pay other bills… hate that happen.

thanks for your ideas.

]]> By: Lindsay http://weakonomics.com/2010/07/09/weakon-331-reverse-mortgages/comment-page-1/#comment-4368 Lindsay Fri, 09 Jul 2010 16:05:56 +0000 http://weakonomics.com/?p=4553#comment-4368 This may be a dumb question, but is the reverse mortgage option only available on a house that's been paid for? What if you still have a regular mortgage? Could you still get a reverse mortgage with a difference in your favor, if say your home value has gone up since the original mortgage was written? This may be a dumb question, but is the reverse mortgage option only available on a house that’s been paid for? What if you still have a regular mortgage? Could you still get a reverse mortgage with a difference in your favor, if say your home value has gone up since the original mortgage was written?

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