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Last updated on 10th Sep 2013
When you choose reverse mortgage solutions in Houston Texas, you agree to begin repaying the loan at the reverse mortgage rate agreed upon if you vacate your home or if it ceases to be your primary residence. If you are thinking about leaving your home, you can use a reverse mortgage calculator to determine how much you would owe if you did so. Make sure you notify your servicer of any plans to relocate or to be out of your home for an extended period of time. Your servicer needs to know what you’re doing, and it makes things much easier on everyone if you are upfront and honest about your actions. Furthermore, if something unexpected causes you to leave your home for a temporary but extended period of time, as may be the case with a hospital or nursing home stay, you should let your servicer know. Usually, in cases such as these, your servicer can work it out so that you can remain outside of your home for a year without having to pay back the reverse mortgage loan.
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10th September 2013 @ 05:27