This means that the interest rate you are charged can change periodically. This does not affect the amount of money you receive. You pay the interest at the time the loan is repaid. You also incur closing costs and fees when you obtain a reverse mortgage. These items can be included in your loan, so you don't have to pay cash for them .
Reverse mortgages are very safe.
They also guarantee that you can stay in your home as long as you like, and you will never owe more than you house is worth. W. BEST of Ohio. To learn more, contact you local Unity Mortgage representative. If you decide to apply, you will be required to attend a free counseling session with an independent third party counselor, to make sure a reverse mortgage is appropriate for your situation. Unity Mortgage Corp. wants to help you make an informed decision.