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Should Your Older Clients Buy a House Without Having to Make Monthly Payments?

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Comments
  1. Great article! Thanks so much for sharing.

  2. Very insightful article. All realtors can really benefit by ensuring they understand the in’s and out’s of reverse mortgages especially if they are in fact set to be come more popular.

  3. The use of a Home Equity Conversion Mortgage can be an excellent way for folks over 62 to purchase a home. This can be especially useful when looking to downsize to a more managable home, or one with amenities better suited for aging in place. However, there can be drawbacks, such as high origination fees, and HECM for Purchase programs generally require a big commitment on the part of the borrower — about 50% of the total cost has to come from the borrower’s other assets.

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