The HELOC is back. Someone unfamiliar with that term might be prompted to think that it's a tease for some horror film or the latest in Marvel Comic adventure movies. Well, even someone who is familiar with it might think there's cause for alarm because of fears it might mean resurgence in instances of a consumer being threatened with having a home taken away.
When it comes to the economy and the most recent recession, few states took it on the chin as hard as Tennessee. Things are beginning to rebound for the country overall, but many in Tennessee still face challenges.
Brokers in the past, advised couples seeking reverse mortgages to remove the younger spouse from a title to obtain higher payouts. This worked because the age of the individual determines the amount of a reverse mortgage.