They also discuss lesser-known strategies, including using a reverse mortgage alongside an existing low-interest first mortgage and the differences between fixed-rate and adjustable-rate reverse mortgage products. Cheryl highlights how each option serves different financial goals and why understanding the available choices is essential before making a decision.
In this episode, you will hear:
- How a reverse mortgage pays off an existing mortgage and removes the required monthly mortgage payment.
- Why some homeowners can keep a low-interest first mortgage while using a reverse mortgage to eliminate a second mortgage payment.
- The differences between fixed-rate and adjustable-rate reverse mortgages.
- How adjustable-rate reverse mortgages provide a line of credit that charges interest only on the funds used.
- Why understanding reverse mortgage options can help homeowners make more informed retirement planning decisions.
Connect with Cheryl Scheidell
Website: reversemortgageandbeyond.com
YouTube: @reversemortgageandbeyond
Facebook: @ReverseMortgageLoanOfficer
Instagram: reversemortgageandbeyond
LinkedIn: @cherylscheidell
Connect with Jonathan
Website: zenandtheartofrealestateinvesting.com
Website: streamlined.properties
YouTube: @JonathanGreeneRE
Instagram: @zenrealestateinvesting
Instagram: @trustgreene
Instagram: @streamlinedproperties
Zillow: zillow.com/profile/streamlinenj
Bigger Pockets: biggerpockets.com/users/jonathangreene
Facebook: @zenandtheartofrealestateinvesting
Facebook: @streamlinedproperties
Zen Substack: @trustgreene
Email: jonathan@trustgreene.com
This episode was produced by Outlier Audio
Listen on Apple Podcasts: podcasts.apple.com/us/podcast/zen-and-the-art-of-real-estate-investing
