Reverse Mortgages For Dummies by Sarah Glendon Lyons (PDF)

Description

For seniors who live on a fixed income, owning a home—and keeping it—can be financially challenging. Rather than face the choice of selling your home and moving or becoming a home-owning pauper, reverse mortgage products let seniors convert part of their equity into tax-free income that can be used for anything—even mortgage payments, living expenses, or medical costs. Reverse Mortgages For Dummies covers all the basics of reverse mortgage products so you and your adult children can understand and take full advantage of these handy loans—and keep the home you love. Covering a full range of reverse mortgage options and topics, you’ll discover how to:Decide if a reverse mortgage is right for youShop for the best reverse mortgage productsFind out if your home is eligibleFind a counselor who can help youWritten by Sarah Lyons, an Assistant Editor at Mortgage Originator magazine, and John Lucas, an experienced reverse mortgage specialist, Reverse Mortgages For Dummies explains these helpful loan products in simple, easy-to-understand language free of all the jargon. Once you understand how reverse mortgages differ from other loans—and what you could do with your reverse mortgage—the book covers the specifics you need to find the right loan for you, including:Special advice for adult children helping their senior parents secure a loanHow to get a reverse mortgage and keep your second home legallyProperty requirements and financing feesSelecting among a multitude of lendersSpending and estimating leftover equitySharing the decision-making process with family and loved onesIf you’re a senior wondering whether a reverse mortgage can help you keep your home, this book gives you the information you need to make smart, informed decisions that are vital to you, and your family’s, security. Reverse Mortgages For Dummies will help you keep your home and live the life you want.

User’s Reviews

Editorial Reviews: From the Back Cover Fully explains how reverse mortgages work With special advice for the adult children of seniorsReverse mortgages are a great way for you to keep your home, even on a retiree’s fixed income. But with so many loan options, where do you start? Relax! This friendly guide covers all the basics so you and your adult children can understand and take advantage of these handy loans — and keep the home you love.Discover how toDecide if a reverse mortgage is right for youShop for the best reverse mortgage productsFind out if your home is eligibleWalk through each step of the process with confidenceFind a counselor who can help you About the Author Sarah Glendon Lyons is Assistant Editor of Mortgage Originator Magazine, the leading U.S. trade publication and Web site on the mortgage origination business. John E. Lucas is a lecturer, educator, and reverse mortgage specialist with more than 38 years of experience in the mortgage industry.

Reviews from Amazon users which were colected at the time this book was published on the website:

⭐my fault, i should have realized that in this market, it is critical the book be the updated version because reverse mortgages are changing each year regarding rules and regulations that affect their sale and purchase. of course, how could i have known that before buying the book since i am a dummy. i’d sure like to get my money back and get a newer, more up-to-date version of this same book.

⭐Book typical of the Dummy series. Written so you can understand the topic of reverse mortgages.

⭐Very informative and easy to read. Learned a lot

⭐Very out of date.

⭐This is a good primer in reverse mortgages. I have been frustrated in querying my CPA and other financial authorities on the subject of the Reverse Mortgage and this book helps answer most of the important questions. I didn’t want to get an MBA by reading this book and so many of the books on the subject are too detailed for what the average homeowner needs. This one fills the bill.I’de recommend it.

⭐A must for someone trying to tap equity. Informative and easy to understand for us dummies.

⭐Answers basic questions

⭐Excellent information for those interested in reverse mortgages. Read this first

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