Reverse mortgages

One of the many ways in order to earn income, especially if you are getting older and have no need for your property, is to extract value from the property. A reverse mortgage is a way for seniors (age 62 and over) to tap the home equity in their home without having to make monthly payments. I recently came across this reverse mortgage service called Ameritek Mortgages which offers ca reverse mortgages.

They provide an online mortgage calculator to estimate your interest charges, a free mortgage quote and some very useful information about the different types of mortgage if you do not know what the markets have to offer. If you are interested in reverse mortgages, and live on the West Coast area, you may want to check out Ameritek Mortgage. They provide services extending to Colorado, Washington, Oregon and California reverse mortgages. Check them out as they provide some useful reading material on their site.

    12 thoughts on “Reverse mortgages”

    1. My in-laws are elderly (in their mid and late 80s) and own their home outright. The in home care expenses for my father in law are mounting and reverse mortgaging their home seems to be the answer. Does anyone have any suggestions about who to go with for the lowest rates or what any down sides to this type of financial product are? Thank you all.

    2. My mother took out a reverse mortgage 5 years ago. Now she can now longer afford the sky high property taxes. Does anyone know what happens? Is it like a Foreclosure? How long can she stay in her home? I am trying too get her an apt in her price range, but she needs to stay in the home until I can do so. Help!!!!

    3. From what I’ve heard, it sounds too good to be true and I don’t want my older family members to get into something bad because their home is paid for and worth good money, especially if they wait and don’t sell until the market gets better in I’d say about 2 years.

    4. My mother has talked to a consultant about a HUD reverse mortgage. She thinks she needs it to help in her retirement. Is it a good deal or a rip-off?

    5. I would like to pay for my parents upkeep . By having it strucutred as a reverse mortgage they are comfortable taking the money and it is tax free in their hands. As I am actually paying to buy the house I would also like to claim tax deduction on the monthly payments. Is it possible?

    6. I am thinking of getting a reverse mortgage to pay off my existing mortgage without any repercussions . Will the interest eat up the remaing equity? more?

    7. Can someone get a reverse mortgage on the property they live in but still collect rent from others they have? I don’t want to call one of these places because they are all 800 numbers, and I don’t want to be bothered by them until I’m more clear how these things work.

    8. I would like some info regarding a reverse mortgage. I am 73 yrs old and this sounds like something that I could benefit from. I have no idea where to start.

    9. I have a home in San Antonio, TX on which I have quiet a bit of equity. I would like to get a HECM Reverse Mortgage and need a lender that specializes in Reverse Mortgages in Texas.

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