{"id":42,"date":"2009-08-18T15:11:37","date_gmt":"2009-08-18T15:11:37","guid":{"rendered":"http:\/\/www.goldenmaturity.com\/can-a-reverse-mortgage-be-used-to-purchase-a-property\/"},"modified":"2009-08-18T15:11:37","modified_gmt":"2009-08-18T15:11:37","slug":"can-a-reverse-mortgage-be-used-to-purchase-a-property","status":"publish","type":"post","link":"https:\/\/www.goldenmaturity.com\/senior-assisted-living-places\/can-a-reverse-mortgage-be-used-to-purchase-a-property\/","title":{"rendered":"Reverse mortgages can be used to purchase a property?"},"content":{"rendered":"<p><span style=\"FONT-SIZE: 11pt; LINE-HEIGHT: 115%; FONT-FAMILY: &#39;Trebuchet\nMS&#39;,&#39;sans-serif&#39;; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-\nlatin; mso-bidi-font-family: Arial; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-\nbidi-language: AR-SA\">Reverse mortgages have traditionally been used by people 62 and over<br \/>\nto access cash from the equity they may have in their primary residence.&#0160; A reverse<br \/>\nmortgage for purchase usually works best when a senior is looking to downsize.&#0160; When<br \/>\nusing a reverse mortgage for purchase, a substantial down payment is required.<span\nstyle=\"mso-spacerun: yes\">&#0160; <\/span>No monthly mortgage payments are<br \/>\nrequired.&#0160; The benefit of using a reverse mortgage to purchase in NY is there is no<br \/>\nmortgage tax.&#0160; Although some may feel closing costs on a reverse mortgage are high the<br \/>\nbenefit of never having to make a monthly mortgage payment is a benefit that probably outweighs<br \/>\nthe costs in many instances. <span style=\"mso-spacerun: yes\">&#0160;<\/span>Even with a<br \/>\nreverse mortgage purchase product you do not have to have income to qualify, and it does not<br \/>\nmatter what your credit score is.&#0160; If you are looking to downsize, a reverse mortgage for<br \/>\npurchase, might leave you with additional liquid funds you might not otherwise have had access<br \/>\nto.&#0160;This product is just one of the reverse mortgage programs approved by, FHA, Federal<br \/>\nHousing Administration, and is government insured. &#0160;Give Annette Fisher a call at 1-800-<br \/>\n380-4623 ext. 888 and she will send you a free, no obligation report on reverse<br \/>\nmortgages.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reverse mortgages have traditionally been used by people 62 and over to access cash from the equity they may have in their primary residence.&#0160; A reverse mortgage for purchase usually works best when a senior is looking to downsize.&#0160; When using a reverse mortgage for purchase, a substantial down payment is required.&#0160; No monthly mortgage&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[69,70,136,68,135],"class_list":["post-42","post","type-post","status-publish","format-standard","hentry","category-reverse-mortgages","tag-fha","tag-hecm","tag-ny","tag-reverse-mortgages-2","tag-reverse-purchase"],"_links":{"self":[{"href":"https:\/\/www.goldenmaturity.com\/senior-assisted-living-places\/wp-json\/wp\/v2\/posts\/42","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.goldenmaturity.com\/senior-assisted-living-places\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.goldenmaturity.com\/senior-assisted-living-places\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.goldenmaturity.com\/senior-assisted-living-places\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.goldenmaturity.com\/senior-assisted-living-places\/wp-json\/wp\/v2\/comments?post=42"}],"version-history":[{"count":0,"href":"https:\/\/www.goldenmaturity.com\/senior-assisted-living-places\/wp-json\/wp\/v2\/posts\/42\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.goldenmaturity.com\/senior-assisted-living-places\/wp-json\/wp\/v2\/media?parent=42"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.goldenmaturity.com\/senior-assisted-living-places\/wp-json\/wp\/v2\/categories?post=42"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.goldenmaturity.com\/senior-assisted-living-places\/wp-json\/wp\/v2\/tags?post=42"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}