Posted on: 25th Dec, 2013 10:41 pm
I am confused. I do not know whether or not it will be a good to sign on the deed to help my parents pay off the mortgage or should they refinance or take out a reverse mortgage. Please help.
Hi Guest,
If they are senior citizens, i.e. 62 years or more of age, then they can opt for a reverse mortgage. If they go for this option, they will not be liable for paying monthly mortgage payments.
Thanks
If they are senior citizens, i.e. 62 years or more of age, then they can opt for a reverse mortgage. If they go for this option, they will not be liable for paying monthly mortgage payments.
Thanks
Well, if you want, you can always help your parents in the mortgage payments. In case your parents are senior people, then they can easily choose reverse mortgage since then they will not have to pay off the mortgage.