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Google it. You'll find plenty of places that explain it and plenty of places that offer it.
I checked it out for myself a while back and found that you don't get much of a loan after fees, costs, limitations, and under-appraising of the property.
I own my house free and clear and I intend to keep it that way.
I suggest that your parents consider doing the same.
Google it. You'll find plenty of places that explain it and plenty of places that offer it.
I checked it out for myself a while back and found that you don't get much of a loan after fees, costs, limitations, and under-appraising of the property.
I own my house free and clear and I intend to keep it that way.
I suggest that your parents consider doing the same.
Once I looked into reverse mortgages and saw past the hype, I wondered why one couldn’t just do a cash-out refi if you needed cash.