Top Ten Reverse Mortgage Misconceptions

1. Reverse Mortgages Are Only for Desperate Seniors
2. Your Home Must be Debt-Free to Obtain a Reverse Mortgage
3. You Lose the Title to Your House When You Sign a Reverse Mortgage
4. When You Get a Reverse Mortgage, You are Cheating Your Heirs
5. When the Reverse Mortgage Comes Due, The Bank Immediately Sells Your Home
6. You Could Owe More Than the Value of the House When You Sell it With a Reverse Mortgage
7. Reverse Mortgages Reduce Social Security and Medicare Benefits
8. You Have to Make Payments to Your Reverse Mortgage
9. Only One Borrower is Allowed to Sign for a Reverse Mortgage
10. You Have to Pay Taxes on Reverse Mortgage Proceeds

These are just a few of the misconceptions regarding reverse mortgages. Please contact a Reverse Mortgage Specialist at Mortgage Financial to learn more about these programs that can provide greater freedom and security to you during the years that you deserve them the most.