Why be creative with your Reverse Mortgage?  Everyone has the desire to save money.  Being creative enables you to save thousands of dollars over a period of years in Interest.  To be creative in the first instance you may be able to budget to decide how much additional money you could comfortably use each month and set up a monthly Income Stream.  By having a monthly Income Stream you are only accuring interest at the time your monthly payment is paid into your personal account.

 To go one step further you may elect to exercise more control over your funds by using it as a Line of Credit (Flexible Drawdown Facility)whereby you chose exactly when you would like the money to be deposited into your account, eliminating accruing interest until this actually happens.

This entry was posted on Friday, March 14th, 2008 at 5:57 pm and is filed under Reverse Mortgage Info. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.