Reverse Mortgage Resource Center - 385-503-2224 - https://reversemortgageresourcecenter.com Does a reverse mortgage hurt your credit? No, a reverse mortgage does not hurt your credit score as long as the loan remains in good standing. Because there are no required monthly payments, you'll never get a late payment showing on your credit report. However, if the loan goes into default, that could have an impact on your credit score. Our team of experts is dedicated to answering any questions and concerns. Give us a call to schedule a no-obligation consultation, and let us show you how a reverse mortgage can benefit you. Reverse Mortgage Resource Center 11240 River Heights Dr Suite 100 South Jordan, Utah 84095 385-503-2224 https://reversemortgageresourcecenter.com

Reverse Mortgage Resource Center - 385-503-2224 - https://reversemortgageresourcecenter.com What is the downside to a reverse mortgage? Reverse mortgages, like all mortgages, come with loan closing costs and fees, which are typically financed as part of the loan. The main downside of a reverse mortgage is in the worst case scenario where in a depreciating market, the homeowner could end up owing more on their loan than their home is worth. This is due to interest that accrues each month. It's important to note that in this case, the bank would accept the home as collateral and NOT go after the beneficiaries for any balance. Our team of experts is dedicated to answering any questions and concerns. Give us a call to schedule a no-obligation consultation, and let us show you how a reverse mortgage can benefit you. Reverse Mortgage Resource Center 11240 River Heights Dr Suite 100 South Jordan, Utah 84095 385-503-2224 https://reversemortgageresourcecenter.com