I thought I might write a couple of blogs on Reverse Mortgages Myths…sort of like a mini series!! Great idea, right? 😉
And I will start with what I believe is Number 1.
I Will No Longer Own My Home
False. You always maintain title, ownership and control of your home.
I Will Owe More Than My Home Is Worth
False. Most reverse mortgages come with a “No Negative Equity Guarantee”. As long as you, the homeowner have met the required obligations, the amount you will have to pay if you move or sell will not exceed the fair market value of your home.
Stay tuned for the next exciting episode! 🙂