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2:25
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Kevin Walton Reverse Mortgages
What Is a Reverse Mortgage? | What Is a Reverse Mortgage Loan?
The most common question I get from people is what is a reverse mortgage? The answer is a reverse mortgage is a loan against your home where you can convert home equity into cash and have optional monthly mortgage payments to pay back the reverse mortgage. But it's not free. The monthly interest that accumulates that goes unpaid gets tacked on ...
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You can take up to 50% of the equity in your house out to live on with a reverse mortgage and remain in your home. You still pay property taxes and insurance and the interest on the loan keeps increasing but you can never owe more than what your house is worth.
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I’m joined by guest speaker Jerry Garner with Mutual of Omaha, who specializes in reverse mortgages! We’re breaking down what they are, how they work, and how some homeowners are even using them to purchase a second home. If your clients are 62 or older, this is a blog topic that can open real doors, literally. Use it to educate readers on how reverse mortgages fit into retirement planning, wealth strategies, or downsizing goals. Show your audience that you’re tuned in to every financial tool av
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