What happens if my property needs repairs during reverse mortgage?
What happens if I have to get repairs on my home during reverse mortgage? Does this cause any problems?
American Advisors Group | Robyn Perry
"When we loan you money in a reverse mortgage, one of the requirements we ask of you is to keep your property in a good state of repair. If your home does need some work, then we don't set any boundaries to what you can do. This is better for your quality of life, better for your reverse mortgage and better for your property value! If you want to discuss this some more, then call in to speak with one of the team here, we're always happy to clarify any points like this.
If you're looking for more information about reverse mortgages, feel free to request a free educational DVD from the website too. When you watch it, you'll find it will help you to make an educated decision about your future. "
Disclaimer: The response above is not intended to be anything other than the educated opinion of the author. It should not be relied upon as financial advice. America Advisors Group recommends speaking directly with an AAG Reverse Mortgage Professional regarding your specific situation and needs. Please call 1 (800) 466-0572 to receive AAG's information pack with a FREE DVD and Brochure featuring Former Senator Fred Thompson.
Replied: 10/21/2010
If you're looking for more information about reverse mortgages, feel free to request a free educational DVD from the website too. When you watch it, you'll find it will help you to make an educated decision about your future. "
Disclaimer: The response above is not intended to be anything other than the educated opinion of the author. It should not be relied upon as financial advice. America Advisors Group recommends speaking directly with an AAG Reverse Mortgage Professional regarding your specific situation and needs. Please call 1 (800) 466-0572 to receive AAG's information pack with a FREE DVD and Brochure featuring Former Senator Fred Thompson.
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Ask Your QuestionMore Questions
- Is there a set maturity date on the reverse mortgage?
- How will my reverse mortgage affect my eligibilty for other types of loans?
- Can I start paying off my reverse mortgage now?
- Do my property taxes differ with a reverse mortgage?
- Does the bank own my home after I sign up for a reverse mortgage?
- How do I apply for a reverse mortgage?
- How do I designate who will receive my reverse mortgage debt?
- Can I get a reverse mortgage if I have a part time job?
- Which reverse mortgage will cost me less?
- What are the pros and cons to a reverse mortgage?
- How do I know if I qualify for a jumbo reverse mortgage?
- What are the out of pocket expenses of a reverse mortgage?
- Would it be practical for me to get a reverse mortgage if I need financing for a short amount of time?
- Am I going to have to pay back my reverse mortgage if I choose to sell my home?
- What happens if my loan balance on my reverse mortgage is greater than my house value?
- How many lenders should I talk to before getting a reverse mortgage?
- What bills will I still be required to pay if I sign up for a reverse mortgage?
- What is the timeline and requirements I have to follow if I want to cancel a reverse mortgage?
- How long will I have to sign the paperwork once I get approved for a reverse mortgage?


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