Property values rise with inflation and have been increasing lately due to all the demand. As values increase, your equity generally increases and your ability to borrow against it also rises.
If you are reading this, you already have a reverse mortgage and have 50% or greater equity. You can probably draw cash from that equity, without disturbing your existing reverse.
The best part – you NEVER have to pay it back!
A HECM to HECM (reverse to reverse) mortgage:
- Requires little paperwork
- Rates are down!