6 Mortgage Options for Seniors - Total Mortgage
Abstract
There are several mortgage options for seniors to consider and some are designed with seniors in mind. Refinancing to lower monthly payments due to reduced income is a large amount of built-up equity. Cashing out part of the equity in your home is a possibility if you’ve built up your house and have paid off most of your mortgage. Cashing in your own house is a good option. If it is a new mortgage is a great way to get a new home. If the mortgage is the best option for a home that is not a mortgage, it can be a good way. The mortgage is also a good thing to pay off your debt. The Mortgage is an easy way to use a portion of your accumulated equivalent to get a loan that functions like a credit card with a HELOC (HECM) and a home equity loan that works like a bank credit line.
