Reverse Mortgage for Home Purchase
Reverse mortgage for home purchase: Effective early 2009 realtors now use a reverse mortgage to help seniors purchase a home with a down payment of just 30% to 50% and the client never has to make a mortgage payment - for life.
1.) consider increasing standard of living by purchasing a nicer home using a reverse mortgage
2.) The Realtor can assist by selling the current (older) home and help their client move into a more modern home, condo or even a maintenance-free townhouse.
Realtors are eager to help as they get two-for-one;
1.) The listing and
2.) The sale of the newer home.
Also remember that there is no income or credit requirement for the client (age 62+).