Upside down means you owe more than it’s worth. A reverse mortgage pays you based on the equity in your home, and takes the house when you pass on, so they aren’t compatible.
Plus, “flipping” a house is buying one cheap, and fixing it up and selling it at a profit.
juncarlo about 5 years ago
These days asking for a loan for a mortgage is also to get dizzy from worry.
dcdete. about 5 years ago
I turned my house downside-up because I heard in today’s real estate climate, “it’s a cellar’s market.”
YippiKiAyMofo about 5 years ago
Shhh! Don’t give the bankers any idea! We’re still getting over 2008, for crying out loud!
rickmac1937 Premium Member about 5 years ago
Good one Ziggy
tcayer about 5 years ago
Upside down means you owe more than it’s worth. A reverse mortgage pays you based on the equity in your home, and takes the house when you pass on, so they aren’t compatible.
Plus, “flipping” a house is buying one cheap, and fixing it up and selling it at a profit.