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  • Editorial 

    Editorial 
    NewRetirement

    San Francisco, CA

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  • Yes, you may absolutely sell a house with a Reverse Mortgage. With a Reverse Mortgage you maintain home ownership and may do most anything you could with a regular mortgage.

    And as with a regular mortgage, you would pay back the Reverse Mortgage with the proceeds from the sale of the home.

    It may be prudent to point out that it is probably not a good idea to secure a Reverse Mortgage if you intend to sell the home in the forseeable future -- within the next five years or so. Reverse Mortgages involve sizable fees that are best absorbed over at least a five year period.

    We wish you all the best! If you would like to estimate your Reverse Mortgage loan amount or find a Reverse Mortgage lender, here are some resources for you:
    --> Reverse Mortgage Calculator: https://www.newretirement.com/Services/Reverse_Mortgage_Calculator.aspx

    --> Screened Reverse Mortgage Lenders: https://www.newretirement.com/reverse-mortgage-marketplace.aspx

  • Login to rate this answer:   Answered on 10/10/2012
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  • Yes - a Reverse Mortgage works like a traditional Forward Mortgage in that sense. And after the house is sold, you can use another Reverse Mortgage to purchase your next home.

  • Login to rate this answer:   Answered on 10/12/2012
**All above answers are provided as general information only. No warranty is made regarding the fitness or accuracy of the information provided in this answer. You should seek advice from a licensed CPA, attorney or CERTIFIED FINANCIAL PLANNER™ as to your unique financial situation.