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21-Oct-2016, 04:53 AM
Post: #6
RE: Icloud

I think RMs work a bit differently over here. We haven't been to see the expert yet, but I get the impression that, once the mortgage has been reversed, the accumulating post-reversal build-up of debt becomes the burden of your heirs, to be paid off by sale of the house, which should have appreciated. Looking at paperwork, it seems that our house is currently worth about $150,000 more than we owe on it We've been here almost 18 years.

We'll have to see, when we go talk to the guru, maybe early next month. We're hoping that we can roll over a home equity loan we used to buy our motor-home into the package. Getting out from under a $1300/month payment will make life a lot easier. Of course we'll still have to pay the rates, etc, but they're a relatively small percentage. Fingers crossed!
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Messages In This Thread
Icloud - Peter Harris - 07-Oct-2015, 06:11 PM
RE: Icloud - anacortesdamp - 18-Oct-2016, 10:26 PM
RE: Icloud - noel - 19-Oct-2016, 10:41 AM
RE: Icloud - anacortesdamp - 19-Oct-2016, 02:54 PM
RE: Icloud - noel - 20-Oct-2016, 06:38 PM
RE: Icloud - anacortesdamp - 21-Oct-2016 04:53 AM

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