Reverse Mortgage
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Reverse Mortgage

This forum promotes education about the FHA Guaranteed Home Equity Conversion Mortgage (HECM) and other proprietary reverse mortgage products.


MONTHLY PAYMENTS

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Reverse Mortgage :: Reverse Mortgage Basic Information :: Equity Management for Senior Citizens

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Post  Foster Brown Tue Feb 05, 2008 10:42 am

Can I have the money in monthly payments like I receive my SS

Foster Brown

Posts : 20
Join date : 2008-01-28

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Post  Paul Jamison Tue Feb 05, 2008 10:44 am

Yes you can receive monthly payments. I think that's the best way to receive the money, that way you know how much you are going to receive every month and you can spend

Paul Jamison

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Join date : 2008-01-28

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Post  Cherry Pearl Fri Feb 08, 2008 1:27 pm

I like that idea also, but I wonder what happens if I live longer than the monthly payments do.

Cherry Pearl

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Join date : 2008-01-29

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Post  Walter Cabe Fri Feb 08, 2008 3:49 pm

Monthly payments would be fine if that is the way you want to go. If you choose monthly advances you may change the amount and the frequency in which you receive your funds at any time. Sounds like a good plan to me.

Walter Cabe

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Join date : 2008-01-28

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