Should I Get a Reverse Mortgage or a Credit Line? What’s the difference between a home equity line of credit and reverse mortgages?

The number of financial products available to older homeowners is growing. Access to home loans, credit lines, and reverse mortgages appears to be improving. But which is the best option for you? Is it a reverse mortgage or a home equity line of credit? Rising Expenses & Uncertainty Many older homeowners are on fixed incomes.…

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Reverse Mortgage Financial Assessments Start April 27, 2015

Reverse Mortgage applicants will undergo financial assessments after April 27, 2015. For the first time since the start of reverse mortgages in 1989, reverse mortgage applicants will be asked to show willingness and means to meet their financial obligations. The application process will look like traditional mortgages. Borrowers will be asked to provide income documentation.…

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