I’m a loan officer for a Mortgage Banking firm. These loans although not for everyone are lifesavers for many Seniors. I have been doing them for about 5 years and have never had a client that has come back and told me that they were sorry for their decision.
More information is available at americashrm.com
We have a house and land in another state we’re no longer interested in. Both are paid off. I’m listing it as my primary residence for tax purposes. My wife is a resident of a different state for business purposes. Right now we’re traveling around looking for a home in another state.
I wouldn’t mind dumping the house and land on a bank or investor and receive a monthly alotment in exchange, until the equity is all used up.
Can a reverse mortgage accomplish something like that?