Thanks for the post Boomer. I was hoping to find something new but agree with JohnN, not much has changed over the past year. It is a great read and a great reference to have on hand. It has helped me explain some ideas to my wife.
One thing has changed dramatically but was not mentioned. The limit on reverse mortgage home value was increased last Nov. to $625,000. Our plan was to sell our VA. Home than take out a reverse mortgage on a home in the Villages which would add $600 per month tax free income to our budget. Although interest rates aren't as good as they were a few months ago there seems to be an increase in the principle limit for HECM Fixed . I am now considering a reverse mortgage that would pay off my present mortgage and buy a house in TV. No payments.
Estimator. https://www.benefits-mortgage.com/ca...o?linkType=mps My concern now is the home appraisal. I would like to get my own appraisal first so that I can shop lenders. This may not be allowed.
Any advice?