How to use a jumbo reverse mortgage to create and ADU income stream
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2019 Mar 20, 5:05pm 1,237 views 3 comments
by tovarichpeter ➕follow (7) 💰tip ignore
https://www.sfgate.com/realestate/article/Just-Approved-Jumbo-reverse-mortgage-helps-13698101.php
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1
HeadSet
2019 Mar 21, 11:50am
HeadSet
2019 Mar 21, 11:50am
Problem: Too many people have paid off homes and are not paying banks interest and fees.
Solution: Reverse mortgage, and now jumbo reverse mortgages
Solution: Reverse mortgage, and now jumbo reverse mortgages
2
everything
2020 Jun 15, 10:53pm
everything
2020 Jun 15, 10:53pm
Why are Jumbo's about a half point rate higher than non-jumbos. Good racket because houses are not getting any cheaper, and I see more jumbo's in the future.
Or, how can we find one that isn't gouging. We have 20% equity, no PMI, etc. already. House is in a upscale neighborhood as well.
Or, how can we find one that isn't gouging. We have 20% equity, no PMI, etc. already. House is in a upscale neighborhood as well.
3
AD
2020 Jun 15, 11:00pm
AD
2020 Jun 15, 11:00pm
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I'm glad my folks did not get a reverse mortgage. Instead they secured a home equity line of credit at prime rate (5.5%).
Prime rate is usually 3% (i.e., 300 basis points) above the federal funds rate. It is now 3.25%.
.
I'm glad my folks did not get a reverse mortgage. Instead they secured a home equity line of credit at prime rate (5.5%).
Prime rate is usually 3% (i.e., 300 basis points) above the federal funds rate. It is now 3.25%.
.
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