Foreclosure in Pompano Beach>Question Details

Gabriel Palo…, Real Estate Pro in Pompano Beach, FL

Can a reverse mortgage provide safety and additional income?

Asked by Gabriel Palotas, Pompano Beach, FL Tue Mar 2, 2010

Many retirees are taking a second look at reverse mortgages? Is it practical?

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2
paul124’s answer
Second mortgage is an ideal solution only if you really need it. However, I still believe that before applying for a personal loan such as 2nd mortgage, you should be able to assess yourself if you have the resources to pay-off your debt.

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0 votes Thank Flag Link Sun Oct 27, 2013
Gabriel, it is practical and a practical necessity for many older (62+ of age qualifying) homeowners.

I wrote a 5 part blog on it - about the new FHA reverse mortgage program updates for September 2010.

Link below. Good luck!
0 votes Thank Flag Link Thu Oct 14, 2010
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