reverse mortgages Archives | Jamie Hopkins Retirement https://hopkinsretirement.com/tag/reverse-mortgages/ Retirement Income Solutions Wed, 13 Dec 2017 18:13:16 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 Common Reverse Mortgage Misconceptions https://hopkinsretirement.com/common-reverse-mortgage-misconceptions/ Wed, 13 Dec 2017 18:12:23 +0000 https://hopkinsretirement.com/?p=2890 Common Reverse Mortgage Misconceptions Professor Jamie Hopkins and Columbia University Professor Chris Mayer, CEO of Longbridge Financial, discuss some common misconceptions about…

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Common Reverse Mortgage Misconceptions

Professor Jamie Hopkins and Columbia University Professor Chris Mayer, CEO of Longbridge Financial, discuss some common misconceptions about reverse mortgages. Many people do not know that a reverse mortgage is a government insured program. Additionally, when a homeowner gets a reverse mortgage they maintain title of the home. This is actually a requirement of the program. In essence, a homeowner uses a reverse mortgage to borrow money from the bank by securing the loan with the home. Instead of making monthly payments like with a normal mortgage no monthly payments are required. With a reverse mortgage is repaid when the homeowner stops using the home as the principal residence.

Watch the video below to learn more about common reverse mortgage misconceptions.

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