While home equity products offer lower interest rates and more tax deductions, people haven't reduced their credit card spending, resulting in greater debt. More Reverse mortgages Each reverse mortgage plan has different strengths and potential fee pitfalls. When you look at a reverse mortgage, ask what you'll get today, what it costs in rates and fees, and what you will have left in the end. The reverse mortgage is best thought of as a tool for financial planning. Circumstances may require the senior to need a steady income.
Reverse mortgages can supply a steady stream of monthly payments.
More Sold loans Today your loan will most likely be sold. To reduce the stress of working with a new lender, you need to carefully evaluate the lender's practices and fees charged for performing certain tasks. Bankrate Inc. All rights reserved.