Скачать или смотреть Myths & Misconceptions of the Reverse Mortgage - Part 3

MYTH #1:  The money I receive from the Reverse Mortgage will affect my Social Security and pension.
No, it will not. The money you receive from the Reverse Mortgage is TAX-FREE because it’s considered a loan, not income. Therefore, it will not affect your Social Security or pension.

MYTH #2: My spouse will be forced to pay back the reverse mortgage if I pass away first.
No, that’s not true! The loan becomes due only when BOTH original borrowers no longer live in the home.

If you have any questions, you can always give us a call at 1-800-420-5515. We know Reverse Mortgages aren’t for everyone but for those that are interested, you should educate yourself to see if this is the right decision for you. Please look out for our future editions of myths and misconceptions, coming soon.