That might be another valid option for us in a few years. Would like to do more research on the differences between a cash out refi, reverse mortgage and HECM. I wouldn't view it as much as being taken advantage of as much as being able to use the value out of it while still alive.Cash out refi?One of the more interesting things that I will look at doing later in life is a reverse mortgage. My thought is that I will have an asset that is not going to any heirs, and me and my wife should be able to utilize the value of it at some point regardless of the fees.
Just not sure there would be any other way to get the value out of a house without doing a reverse mortgage or selling it (a regular HELOC probably wouldn't be approved with no income).
Statistics: Posted by texas lawdog — Sat Aug 24, 2024 7:25 am