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Real Estate
The Real Estate Adviser |
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August 9, 2001
Reverse mortgage can be flexible
By TOM KELLY
The Real Estate Advisor
The Real Estate Advisor
Dr. Elizabeth Duncan, age 82, doesn’t plan to keep her reverse mortgage very long. As soon as she builds up her professional psycho-therapy practice in Issaquah, she intends to refinance to a conventional mortgage.
“A lot of people think these mortgages are so final,’’ said Duncan, who used a reverse mortgage to buy a new home in the Providence Point retirement community. “But they aren’t final. You can end it when you feel like ending it. You still own your home, and you can still do what you want.’’
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Previous columns:
- Group aims to limit mortgage deduction, 08-02-2001
- Dreaming of a fancy house, 07-26-2001
- Court case a reminder for owners of houses, 07-19-2001
- Appraisers fear database, 07-12-2001
- Before you hit the road, 06-28-2001
- New index measures housing strength, 06-21-2001
- Great memories begin at home, 06-14-2001
- Should banks be allowed to sell real estate?, 06-07-2001