Your Best Friend...
Not good or bad in themselves, a reverse mortgage could be your best friend...
Chapter One: These financial and lifestyle wealth management tools can be the best or the worst solution to a problem or response to an opportunity depending on how and when the reverse mortgage is used:
• Best Friend: When a reverse mortgage is the best solution, it will also be the only solution completely acceptable to the homeowner. This makes a reverse mortgage a “best friend” since nothing else will allow the homeowner to achieve that specific set of financial and lifestyle goals, one of which is to keep the property and release equity at the same time.
• Worst Enemy: When a reverse mortgage is the wrong fit, there will be at least one solution, if not more, that would suit the homeowner’s needs more completely or less expensively. This makes the reverse mortgage a “worst enemy” since it will erode or erase the accumulated home equity that probably took decades of mortgage repayment and real estate appreciation to create.
Usually, a reverse mortgage is either a best friend or a worst enemy but nothing in between.
The balance of Chapter 1 provides important and often overlooked context for your evaluation of reverse mortgages, their applications, possible drawbacks and your decision making process.
Chapter 2 delves into exactly what a reverse mortgage is and how it works.
Chapter 3 outlines the various types of reverse mortgages.
Chapter One: These financial and lifestyle wealth management tools can be the best or the worst solution to a problem or response to an opportunity depending on how and when the reverse mortgage is used:
• Best Friend: When a reverse mortgage is the best solution, it will also be the only solution completely acceptable to the homeowner. This makes a reverse mortgage a “best friend” since nothing else will allow the homeowner to achieve that specific set of financial and lifestyle goals, one of which is to keep the property and release equity at the same time.
• Worst Enemy: When a reverse mortgage is the wrong fit, there will be at least one solution, if not more, that would suit the homeowner’s needs more completely or less expensively. This makes the reverse mortgage a “worst enemy” since it will erode or erase the accumulated home equity that probably took decades of mortgage repayment and real estate appreciation to create.
Usually, a reverse mortgage is either a best friend or a worst enemy but nothing in between.
The balance of Chapter 1 provides important and often overlooked context for your evaluation of reverse mortgages, their applications, possible drawbacks and your decision making process.
Chapter 2 delves into exactly what a reverse mortgage is and how it works.
Chapter 3 outlines the various types of reverse mortgages.
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