Understanding Reverse Mortgages

Welcome to another video in the Ask Christee Smart homebuyers’ series.

In this video we will explore homebuying options for seniors without a monthly mortgage payment utilizing a reverse mortgage.

In the United States, there are over 55 million adults older the 65 which is almost 17% of the population.

Every year, a considerable number of seniors contemplate downsizing their housing and relocating to a more suitable home.

We compare buying a home with a reverse mortgage to:

• Renting
• Paying cash for a new home
• Buying a home with a conventional loan.

We also explore some of the myths surrounding reverse mortgage and why a reverse mortgage could be a viable alternative for you or someone you love.

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