Fixed Rate Reverse Mortgages - Stable Alternative Receives Enthusiastic Welcome

Fixed Rate Reverse Mortgages - Stable Alternative Receives Enthusiastic Welcome,

Time brings change. Nowhere could that be truer than in the world of reverse mortgages. During the past three years, there’’s been a huge increase in the choices and benefits that reverse mortgages provide to borrowers.

Many previously undecided homeowners are making the move and enjoying the benefits of a reverse mortgage. The big change that’’s helping them get started — the FRRM (Fixed Rate Reverse Mortgage)

While there are benefits in obtaining either a fixed or adjustable rate mortgage, for many elderly homeowners, the thought of not knowing what their interest rate will be 5 or 10 years from now presented an obstacle. “I owned a home when interest rates were very high,” said Carolyn Brandon, a retired state employee. Ms. Brandon had investigated reverse mortgages for over a year. “Everything looked great, but I waited until I could get a fixed rate reverse mortgage,” she added.

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Full post here Reverse Mortgage Loan Blog

Written by News & Feeds on October 7th, 2007 with comments disabled.
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