Are Most Reverse Mortgages Fixed or Adjustable Rate???

Most people think it might be an easy choice to decide whether a fixed rate or adjustable rate reverse mortgage is best suited for them. But in this video you'll learn, that decision is actually not as easy as you may think. Watch to learn the differences between the two reverse mortgage loan types and see which options most people choose... Fixed or adjustable rate.
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If you or someone you know has questions about a reverse mortgage, give me a call. I'm always happy to educate you about your options and help you determine if a reverse mortgage is a good fit.
We are currently licensed in Arizona, California, and Colorado.
Taryn Proctor
[phone]
rheadvisors.com
[e-mail]
NMLS: 1457445 | DRE: 02116203
Branch NMLS: 2134579

[@baycreekhistorydetectives4830]

Learning so much from you!! Thank you so much. Been watching all your videos. Do you know if a disbursement is considered taxable income?

[@reversemortgageeducation]

My pleasure! So glad you are finding the videos helpful! Reverse mortgage proceeds are not considered taxable income for income tax purposes. However, it may be considered income when it comes to means tested programs, such as Medicaid. And it would be a good idea to speak with a tax professional, if that is a concern. As well, I’m always happy to chat in more detail, if you’d like.😊

[@destincasimiro6984]

With a reverse mortgage, when paying property taxs and home owners insurance. Can these expenses still be paid on a monthly basis???

[@reversemortgageeducation]

Hi there! The only way they can be paid monthly, is if the county allows that. I’m not aware of any that do though. So, because you would be paying the taxes directly to them, they would dictate how often those could be paid. Hope that helps!