Reverse Mortgage Myths vs Facts

 

MYTH # 7:
Your home must be debt free to qualify

 

FACT:
You may have a mortgage or other debt on your home. The mortgage or debt must be paid off first with the proceeds of the Reverse Mortgage.

 

MYTH # 8:
Only “cash poor” or desperate seniors can benefit

 

FACT:
Not so. Some seniors may have a greater need than others for the cash or monthly income. A Reverse Mortgage can serve them well — just as it serves as an excellent financial or estate planning tool for many others.

 

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