giraffelending – Financial Security

Reverse mortgages may be expensive. Especially when you consider that, similar to conventional mortgage loans, you are responsible for the principal amount and any associated interest and fees. As previously stated, your debt continues to increase over time. Furthermore, there are certain upfront costs. You can pay for these costs out of pocket or with loan proceeds to avoid bringing cash to the closing. If you utilize your loan to pay these up-front expenditures, you will have less money for subsequent fees.