Retirees are often house rich but cash poor, their homes being their largest assets. There used to be just three significant ways to get equity from a home: - Sell it
- Rent it
- Borrow against it using either a cash-out refinance or a home-equity loan
- Reverse mortgages present a fourth option, allowing homeowners to receive some of the home’s equity without moving or making regular loan repayments. Reverse mortgages provide an alternative financing method (though an expensive one) that can help homeowners maintain their independence as well as an adequate standard of living.
No comments:
Post a Comment