Debt Elimination and Lifestyle Change: A community blog

Linda Chavey writes about how to change your lifestyle habits in order to eliminate debt.

Reverse Mortgages

Written by Linda Chavey, Community blogger | Dec 18, 2012 4:31 PM

See below for an informative article on reverse mortgages. I have seen numerous people get into jams because of uninformed decisions they are making with their mortgages such as HELOC loans, 2nd and 3rd mortgages and reverse mortgages. Serious financial problems can result with all of these mortgage options. 

My best would be a 15-year, fixed-rate mortgage. Pay it off as quickly as possible. 

http://www.interest.com/home-equity/news/4-reasons-to-be-wary-of-a-reverse-mortgage/?ec_id=cmctre_01_comm_RE_image_headline

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Comments: 1

  • Marie Cuevas img 2014-03-14 07:47

    Prior to the housing market imploding and a recession starting, a lot of people turned to flipping house. Obviously it was a good idea when people actually were buying houses and there was a profit to be made but since then, it hasn't been as lucrative.

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