(23/09/22)
Reverse Mortgages NSW: Loan Scenario of the Week
Mr W (75) lives by himself in a town house in Leichardt. He has a current Reverse Mortgages facility of $280,000, this was taken out 6 years ago and he has now used his maximum facility. As he is older and his property has increased in value since the last Reverse Mortgage, he can now borrow $410,000. Mr W is struggling with keeping up with the costs of living and so he will use his new facility to refinance his existing reverse mortgage and then setup a regular payment of $500 a fortnight to supplement his aged pension. This has allowed Mr W the ability to continue his quality of life and keep up with the cost-of-living increases. It has also given him peace of mind as he can also use his limit to cover large one of payments, and he has some large medical expenses coming up.
Reverse Mortgages NSW: Loan Scenario of the Week (30/09/22)
Reverse Mortgage NSW: Loan Scenario of the Week (16/09/2022)
Other blog posts
-
Granny Flat Finance: Reverse Mortgage Loan Tips for Seniors
... -
Can You Pay Out A Home Loan By Refinancing With a Reverse Mortgage?
For Australians 55 and over, a reverse mortgage is a regulated loan. It makes it possible for homeowners to access and turn a portion of the equity in their property into cash. There are no monthly payback obligations, in contrast to conventional home loans. When the property is sold or the... -
Reverse Mortgage Lenders in Australia: What Retirees Should Know
The family home is the most valuable possession for many Australian seniors. The cost of living is going up, which might place a strain on retirement income, even though property values have gone up. Reverse Mortgages NSW can help with this. As experts in retirement lending, we work with reliable...
