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Updated about 5 years ago, 09/10/2019

Janet Taylor's profile image
Janet Taylor's profile image
Janet Taylor
  • from Shreveport, Louisiana
  • Member since Nov 26, 2014
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User Stats

34
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9
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Janet Taylor's profile image
Janet Taylor's profile image
Janet Taylor
  • from Shreveport, Louisiana
  • Member since Nov 26, 2014
Connect
Janet Taylor
  • Shreveport, LA
9
Votes |
34
Posts
Creative Real Estate Financing

Reverse Mortgage

Janet Taylor
  • Shreveport, LA
Posted

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. 

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