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Updated over 5 years ago,
Reverse Mortgage
I am considering using a Reverse Mortgage with the house I am in or selling it and using a Reverse Mortgage tobuy my next house. I need more information and a better understanding of Reverse Mortgages in order to make a good decision.
Can I live in my garage apt and rent out my house and get a RM?
If I sell my house and used a RM to buy another house how much could I afford if my figures are as below?
Cash. $100,000
Income $ 24,000
Credit Score. 650
Thank you for your help.