Mortgage Broker Company - What should you look for in a reverse mortgage?

Reverse mortgages have gained popularity for the answer to homeowner retiree’s.  However, be careful.

Make sure you shop around for this type of loan too.

Usually you must be at least 60 years old.  You can usually borrow between 10 and 45% of the value of your home. The interest charged is about 1% higher than a standard variable home loan rate.

Now watch out for property prices falling and your debt.  Keep watch of the economy.

 

    • No Comments »

    No comments yet.

    RSS feed for comments on this post. TrackBack URI

    Leave a comment

    If you want to leave a feedback to this post or to some other user´s comment, simply fill out the form below.

    (required)

    (required)