Reverse Mortgage as a Deal Saver
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- Actual case mentioned by REMAX Broker/Owner when farming
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- “Reverse Mortgages are great – they’ve helped us save deals”
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- Agent made resident grandmother who was going to be co-borrower sole purchaser with Reverse Mortgage due to credit issues
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- Home closed with Reverse Mortgage. Children have time to repair credit and/or establish job stability to qualify for financing to pay off the Reverse Mortgage at any time or within one year of the grandmother's death
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- Such arrangements must be analyzed closely to insure suitability