Get Your Finances In Gear With A Reverse Mortgage Calculator
Apparently, reverse mortgages are much the same as a see saw, with a giant green dollar sign balancing back and forth with your green-roofed house.
I haven’t spent enough time mingling with financial advisor types to know all of the lingo they use when conveying money concepts and investment ideas like “reverse mortgages” and “market correction” and “cash flow”. Personally, I know a cash flow is my money flowing from my wallet into her purse, and a market correction is when I buy have to return the margarine because I was supposed to buy butter.
But a reverse mortgage? It sounds like a switch on a time machine to help you undo that agreement with the bank, a way of going back in time to warn yourself that you’re making a mistake with that beach-front condo. “Reverse mortgage!” you might say to your past-self, attempting to warn him/her/you without causing a space-time paradox.
Well, I was disappointed to learn that a reverse mortgage is NOT some fancy science-fiction device for financial analyst time-travelers, and really, it’s merely a term for a loan from the bank that allows you to get some money back from your home equity. But that doesn’t mean that somewhere in time, some scientist has devised a way to communicate to their past-selves that they should’ve invested in Google or Facebook or Chia Spock toys while they were still affordable.
I suppose that for one to truly appreciate the value of a reverse mortgage, you might need to use some sort of reverse mortgage calculator (this is a real thing, not some magical technology from the future) to estimate your reverse mortgage. I would highly recommend this sort of home equity aid which can provide you with an estimate based on the value of your home, because I know that neither I, nor my past or future beings, will be able to offer you anything remotely resembling accurate financial advice, least of all to do with mortgages, reverse or otherwise. However, my wife does know a thing or two about cash flow…
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