The Flexibility of Equity
Equity gains from real estate do more than just look good on paper. In this video, our CEO and founder, Scott Gordon, discusses why rising property values offer homeowners like you plenty of opportunities — and selling is just one of them. Some of the topics he covers:
- Equity can be accessed as cash, or as a line of credit
- Cash is available when refinancing, selling, or via a HECM
- A line of credit can increase over time as your equity increases
Things to know about Reverse Mortgages:
- At the conclusion of a reverse mortgage, the borrower must repay the loan and may have to sell the home or repay the loan from other proceeds
- Charges will be assessed with the loan, including an origination fee, closing costs, mortgage insurance premiums and servicing fees
- The loan balance grows over time and interest is charged on the outstanding balance
- The borrower remains responsible for property taxes, hazard insurance, and home maintenance, and failure to pay these amounts may result in the loss of the home
- Interest on a reverse mortgage is not tax-deductible until the borrower makes partial or full re-payment
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