Posted on: 19th Jul, 2010 03:50 am
i'm 60 years old and recently sold my house.now i have $300k cash which i intend to use it as a down payment and buy a house for my children where i would live as well.
what are my chances for reverse mortgage refinance after i turn 62 ?
what are my chances for reverse mortgage refinance after i turn 62 ?
Hi micotakis50
This could be a good move as far as liquidity is concerned but if you look out the returns part on reverse mortgage it is really not at par as far as inflation rate is concerned.
But still I will advice you to go for it because you (and your dependents) will have home to reside as well as cash in hand to use it for the business purpose.
DIPA
This could be a good move as far as liquidity is concerned but if you look out the returns part on reverse mortgage it is really not at par as far as inflation rate is concerned.
But still I will advice you to go for it because you (and your dependents) will have home to reside as well as cash in hand to use it for the business purpose.
DIPA