People have unique needs. Some prefer to take their entire amount up front, while others prefer to receive steady monthly payments to supplement their other income. Regardless of which distribution plan you pick, you are able to adjust your plan as often as you wish to accommodate changing needs. There are five different kinds of Reverse Mortgage distribution plans to fit your needs and desires.
Five Payment Options to choose from . . .
1. Lump Sum Cash Advances: Cash is immediately available – often used
to payoff an existing mortgage
2. Term: Equal monthly payments for a fixed period of months selected
3. Tenure: Equal monthly payments as long as at least one borrower lives
and continues to occupy the property as a principal residence
4. Line of Credit: A credit line which the homeowner can draw upon as he
or she wishes
5. Combination: Any combination of the options listed above
Reverse Mortgage Man
(866) 800-0280
http://www.moneywise123.com/
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