Reverse Mortgage 2nd TD (similar to a HELOC)
Would you like a HELOC, extra cash, or a Line of Credit? Don’t want to disturb an existing 1st at a low-interest rate? A Reverse 2nd TD may be just the thing.
Total equity must match what it would be for a full reverse mortgage, and they can be put behind any standard, forward mortgage (as long as the existing lender will subordinate). Like any other reverse mortgage, your payment will always be ZERO. If you take it as a line of credit instead of cash, the line of credit will actually grow over time. And like any other reverse, you can pay it down or pay it off at any time without a penalty.
844-WHY-LOVE (844-949-5683)