What is a Reverse Mortgage?

A reverse mortgage is a mortgage possibility available to retirees ages sixty-two and up that are in need of additional income. This loan works much differently than a traditional mortgage. As you look to spend your retirement years in Redding,CA–read below to find if a reverse mortgage works for you.

Pros and Cons of Reverse Mortgages in Redding Real Estate

A reverse mortgage could be a key component to your retirement planning, providing funds now and for the future. But it’s not the right choice for everyone’s financial situation. Take a moment to understand the pros and cons of getting a reverse mortgage on your Redding real estate and determine if it’s a wise decision …

Rates vs. APR

Interest rates, and the fees required to obtain that rate from a given lender can be confusing especially when comparing one lender to another. In order to reduce this confusion, lenders are required to provide borrowers with a document called a TIL or Truth in Lending statement. This document lists the interest rate and fees …